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Debt collector vs account specialist

The differences between debt collectors and account specialists can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both a debt collector and an account specialist. Additionally, an account specialist has an average salary of $42,586, which is higher than the $33,865 average annual salary of a debt collector.

The top three skills for a debt collector include customer service, outbound calls and payment arrangements. The most important skills for an account specialist are customer service, patients, and account management.

Debt collector vs account specialist overview

Debt CollectorAccount Specialist
Yearly salary$33,865$42,586
Hourly rate$16.28$20.47
Growth rate-8%-8%
Number of jobs23,385116,010
Job satisfaction--
Most common degreeHigh School Diploma, 34%Bachelor's Degree, 54%
Average age4646
Years of experience1212

What does a debt collector do?

Debt collectors are also known as collection agencies and are responsible for recovering past due debts. Most of them are hired by companies to collect debt either for a fee or a percentage of the total amount recovered. Also, some debt collectors buy delinquent debts at a discount and seek to collect the debt's full amount. They have many strategies to collect debts, including calling debtor's phones, sending letters, and even visiting them at their home. However, if debtors fail to pay their due, debt collectors can either update the debtor's credit report or sue them over debt. Once sued and debtors ignore court hearings and lose by default, results could either be garnishment on debtor'debtors' wages or levies on their bank.

What does an account specialist do?

An account specialist is responsible for reaching out to customers or potential clients through calls, emails, and other forms of correspondence to secure sales and strengthen business relations. An account specialist may also perform other tasks such as arranging appointment schedules with clients, providing price quotes and responding to further inquiries, process orders, generating sales leads, and handling complaints and resolving issues. Furthermore, an account specialist may also be involved in developing strategies, finding new opportunities, producing and completing necessary documents, and preparing reports, all in adherence to the company's policies and regulations.

Debt collector vs account specialist salary

Debt collectors and account specialists have different pay scales, as shown below.

Debt CollectorAccount Specialist
Average salary$33,865$42,586
Salary rangeBetween $26,000 And $43,000Between $28,000 And $62,000
Highest paying CitySan Francisco, CAWashington, DC
Highest paying stateCaliforniaVirginia
Best paying companyMayor Ethan BerkowitzMicrosoft
Best paying industryConstructionFinance

Differences between debt collector and account specialist education

There are a few differences between a debt collector and an account specialist in terms of educational background:

Debt CollectorAccount Specialist
Most common degreeHigh School Diploma, 34%Bachelor's Degree, 54%
Most common majorBusinessBusiness
Most common college--

Debt collector vs account specialist demographics

Here are the differences between debt collectors' and account specialists' demographics:

Debt CollectorAccount Specialist
Average age4646
Gender ratioMale, 30.7% Female, 69.3%Male, 32.2% Female, 67.8%
Race ratioBlack or African American, 12.2% Unknown, 4.0% Hispanic or Latino, 20.0% Asian, 3.4% White, 59.9% American Indian and Alaska Native, 0.5%Black or African American, 13.2% Unknown, 4.1% Hispanic or Latino, 17.8% Asian, 3.7% White, 60.8% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between debt collector and account specialist duties and responsibilities

Debt collector example responsibilities.

  • Prevent impeding loss and increasing profitability through negotiation and enforcement of schedule collection campaigns, consistently achieving high success standards.
  • Work with FHA, obama programs at the time.
  • Educate customers on ways to get medical assistance such as Medicaid, Medicare etc.
  • Prevent foreclosure by putting people on repayment plans, submitting requests for modifications, or deed in lieu.
  • File Medicaid, Medicare and commercial claims consisting of PPO discounts, nurse practitioner discounts, humanitarian discounts, etc.
  • Maintain security and confidentiality of company and client information, following FDCPA regulations.
  • Show more

Account specialist example responsibilities.

  • Cultivate productive long-term relationships with all assign accounts, and manage all reporting and presentation needs for RFP's.
  • Manage a portfolio of accounts end to end RFP program execution inclusive of pricing, contracting, process and technology solutions.
  • Manage the daily correspondence from assign practices with keeping doctor/patient confidentiality under consideration along with HIPPA regulations.
  • Deliver exceptional customer service to hospital accounts and internal sales representatives in accordance to revenue recognition policies and HIPAA regulations.
  • Experience with CMS 1500 and UB-04 claims using HCPC/CPT codes as well as NDC codes
  • Monitor CMS and real time aux codes.
  • Show more

Debt collector vs account specialist skills

Common debt collector skills
  • Customer Service, 9%
  • Outbound Calls, 9%
  • Payment Arrangements, 8%
  • Delinquent Accounts, 8%
  • Credit Card Payments, 6%
  • FDCPA, 5%
Common account specialist skills
  • Customer Service, 25%
  • Patients, 13%
  • Account Management, 6%
  • PowerPoint, 4%
  • Data Entry, 4%
  • Catheter, 3%

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