How long does it take to become a Collections Specialist?

It takes 5 years of professional experience to become a collections specialist. That is the time it takes to learn specific collections specialist skills, but does not account for time spent in formal education.

Is collections a good career?

No, collections is not typically viewed as a good career. While there is some opportunity to make good money, it typically pays around average wages. In addition to not paying significantly well, this position is often viewed negatively due to the fact that people who interact with collections generally are in a bad financial situation. This makes these roles challenging as the collections specialist must find a way to navigate often volatile conversations.

What are the duties of a collection specialist?

The duties of a collections specialist are to resolve overdue bills and collect payments from the individuals or businesses responsible for the debt. Their duties include locating those responsible for unpaid bills and setting up acceptable repayment terms to protect the financial assets of their employer.

How To Become A Collections Specialist: What It Is and Career Path

What is a collections specialist and how to become one

Updated January 8, 2025

5 min read

A collections specialist collects on past-due accounts and debts owed by individuals or businesses. They work for collection agencies, law firms, financial institutions, and others. The main responsibilities of a collections specialist include contacting debtors to negotiate payment plans, updating account information, reviewing credit reports, and maintaining records of all communication with debtors. They must have excellent communication and conflict-resolution skills and an understanding of debt laws and regulations.

ScoreCollections SpecialistUS Average

Salary

2.7

Avg. Salary $35,164

Avg. Salary $59,228

Stability level

7.9

Growth rate -8%

Growth rate 0.3%

Diversity

5.9

Race

American Indian and Alaska Native 0.49%

Asian 3.65%

Black or African American 12.24%

Hispanic or Latino 18.50%

Unknown 4.07%

White 61.05%

Gender

female 69.48%

male 30.52%

Age - 46

Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 46

Stress level

7.9

Stress level is high

7.1 - high

Complexity level

4.9

Complexity level is intermediate

7 - challenging

Work life balance

7.6

Work life balance is good

6.4 - fair

What are the pros and cons of being a collections specialist?

Pros

Opportunity for high earning potential through commission
Develops strong negotiation and communication skills
Working with a variety of clients and industries
Opportunity for advancement within the company
Ability to work independently and manage own workload

Cons

Dealing with difficult or upset customers can be emotionally taxing
Requires persistence and patience when dealing with delinquent accounts
Can be challenging to balance the need to collect on accounts while maintaining positive client relationships
May require working with outdated or inefficient technology systems
May involve working with clients who are experiencing financial hardship or personal challenges, which can be emotionally draining

Key steps to become a collections specialist

Explore collections specialist education requirements

Most common collections specialist degrees

Bachelor's

33.8 %

Associate

24.8 %

High School Diploma

24.2 %

Start to develop specific collections specialist skills

Skills	Percentages
Customer Service	23.44%
Patients	7.71%
Customer Accounts	5.77%
Payment Arrangements	5.24%
Delinquent Accounts	4.34%

Complete relevant collections specialist training and internships

Accountants spend an average of 1-3 months on post-employment, on-the-job training. New collections specialists learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a collections specialist based on U.S. Bureau of Labor Statistics data and data from real collections specialist resumes.

Research collections specialist duties and responsibilities

Manage university A/R processes and enforce tuition payment policy.
Manage accounts for healthcare clients, review detailed patient information for payment resolution while abiding HIPPA privacy and security regulations.
Review denied Medicare and Maine Medicaid insurance claims for accuracy.
Analyze hospital insurance claims of individual patients for errors and contact major insurance carriers for claims dispute resolution.

Prepare your collections specialist resume

When your background is strong enough, you can start writing your collections specialist resume.

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Choose from 10+ customizable collections specialist resume templates

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