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Debt collector vs collections, customer service

The differences between debt collectors and collectionss, customer service 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 a collections, customer service. Additionally, a debt collector has an average salary of $33,865, which is higher than the $32,870 average annual salary of a collections, customer service.

The top three skills for a debt collector include customer service, outbound calls and payment arrangements. The most important skills for a collections, customer service are strong customer service, customer service, and payment arrangements.

Debt collector vs collections, customer service overview

Debt CollectorCollections, Customer Service
Yearly salary$33,865$32,870
Hourly rate$16.28$15.80
Growth rate-8%-8%
Number of jobs23,385161,544
Job satisfaction--
Most common degreeHigh School Diploma, 34%High School Diploma, 33%
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 a collections, customer service do?

A collections customer service or collections agent is the person who is in charge of collecting past-due bill payments. Collections agents establish a list of individuals who failed to make their payments. They organize the list based on the severity of their delinquency. It is their task to find the location of the customers through background checks, credit bureau information, and loan documents. Those who are interested in this job should develop skills in intuition, quick thinking, problem-solving, and communication.

Debt collector vs collections, customer service salary

Debt collectors and collectionss, customer service have different pay scales, as shown below.

Debt CollectorCollections, Customer Service
Average salary$33,865$32,870
Salary rangeBetween $26,000 And $43,000Between $27,000 And $39,000
Highest paying CitySan Francisco, CADanvers, MA
Highest paying stateCaliforniaVirginia
Best paying companyMayor Ethan BerkowitzUniversity of California
Best paying industryConstructionAutomotive

Differences between debt collector and collections, customer service education

There are a few differences between a debt collector and a collections, customer service in terms of educational background:

Debt CollectorCollections, Customer Service
Most common degreeHigh School Diploma, 34%High School Diploma, 33%
Most common majorBusinessBusiness
Most common college--

Debt collector vs collections, customer service demographics

Here are the differences between debt collectors' and collectionss, customer service' demographics:

Debt CollectorCollections, Customer Service
Average age4646
Gender ratioMale, 30.7% Female, 69.3%Male, 29.3% Female, 70.7%
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, 11.4% Unknown, 4.2% Hispanic or Latino, 20.3% Asian, 3.8% White, 59.8% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between debt collector and collections, customer service 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

Collections, customer service example responsibilities.

  • Monitor all assign accounts by reviewing the client's aging, manage all potential bad debit, DSO, aging.
  • Provide excellent verbal, written, oral communication skills, attend ongoing training of collections and FDCPA regulations and guidelines.
  • Provide excellent interpersonal, negotiation, and customer service skills via telephone.
  • Research accounts to verify credits and debits make are accurately post against supporting documents showing timely reflect within the FDCPA guidelines.
  • Prevent impending loss and increase profitability through negotiation and enforcement of schedule collection campaigns.
  • Submit additional information request by insurance companies such as medical records, primary/secondary insurance explanation of benefits (EOB).
  • Show more

Debt collector vs collections, customer service skills

Common debt collector skills
  • Customer Service, 9%
  • Outbound Calls, 9%
  • Payment Arrangements, 8%
  • Delinquent Accounts, 8%
  • Credit Card Payments, 6%
  • FDCPA, 5%
Common collections, customer service skills
  • Strong Customer Service, 45%
  • Customer Service, 12%
  • Payment Arrangements, 5%
  • Credit Card Payments, 4%
  • Delinquent Accounts, 4%
  • Past Due Accounts, 3%

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