Debt counselor vs credit and collections analyst

The differences between debt counselors and credit and collections analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 1-2 years to become a debt counselor, becoming a credit and collections analyst takes usually requires 6-12 months. Additionally, a credit and collections analyst has an average salary of $49,262, which is higher than the $37,932 average annual salary of a debt counselor.

The top three skills for a debt counselor include outbound calls, inbound calls and customer service. The most important skills for a credit and collections analyst are customer service, credit limits, and past due accounts.

Debt counselor vs credit and collections analyst overview

	Debt Counselor	Credit And Collections Analyst
Yearly salary	$37,932	$49,262
Hourly rate	$18.24	$23.68
Growth rate	-8%	-8%
Number of jobs	27,258	18,105
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 41%	Bachelor's Degree, 52%
Average age	45	46
Years of experience	2	12

Debt counselor vs credit and collections analyst salary

Debt counselors and credit and collections analysts have different pay scales, as shown below.

	Debt Counselor	Credit And Collections Analyst
Average salary	$37,932	$49,262
Salary range	Between $27,000 And $51,000	Between $35,000 And $69,000
Highest paying City	-	Bridgewater, NJ
Highest paying state	-	Connecticut
Best paying company	-	Vishay
Best paying industry	-	Finance

Differences between debt counselor and credit and collections analyst education

There are a few differences between a debt counselor and a credit and collections analyst in terms of educational background:

	Debt Counselor	Credit And Collections Analyst
Most common degree	Bachelor's Degree, 41%	Bachelor's Degree, 52%
Most common major	Business	Business
Most common college	-	-

Debt counselor vs credit and collections analyst demographics

Here are the differences between debt counselors' and credit and collections analysts' demographics:

	Debt Counselor	Credit And Collections Analyst
Average age	45	46
Gender ratio	Male, 46.8% Female, 53.2%	Male, 30.0% Female, 70.0%
Race ratio	Black or African American, 9.3% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.1% White, 63.4% American Indian and Alaska Native, 0.5%	Black or African American, 12.0% Unknown, 4.0% Hispanic or Latino, 20.5% Asian, 3.6% White, 59.4% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between debt counselor and credit and collections analyst duties and responsibilities

Debt counselor example responsibilities.

Manage patient focuse reports, collection modules, provider/facility A/R, collections, patient discharge letters.
Comply with all of the FDCPA guidelines.
Perform numerous acts of repossession and litigation on a daily basis.
Complete standard legal garnishment forms for review, and forward to litigation department.
Provide administrative support by the filing electronic claims to Medicare, Medicaid and private insurers for emergency and non-emergency transports.
Utilize FDCRA and NFCC guidelines.

Credit and collections analyst example responsibilities.

Represent and lead the collections' team during executive management weekly conference calls providing updates on the delinquent A/R reports.
Identify and submit financial adjustments using SOX controls and GAAP accounting principles, increasing monthly AR collection.
Develop and maintain detailed spreadsheets on all UCC activity for the branch for tracking purposes and follow-up.
Establish the UCC filing template and liaise with agent bank to get UCC filing in due time.
Oversee the DSO level and negotiate account settlements, payment plans, and attend small claims court for small businesses.
Attend regular credit meetings with order management, sales, treasury, and revenue recognition groups to resolve business issues.

Debt counselor vs credit and collections analyst skills

Common debt counselor skills

Outbound Calls, 20%
Inbound Calls, 15%
Customer Service, 14%
Delinquent Accounts, 9%
Payment Arrangements, 6%
Credit Reports, 4%

Common credit and collections analyst skills

Customer Service, 18%
Credit Limits, 5%
Past Due Accounts, 5%
Delinquent Accounts, 4%
Financial Statements, 4%
Credit Card Payments, 3%

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Debt Counselor
Debt Counselor vs Credit And Collections Analyst

Updated January 8, 2025

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