Installment loan collector vs collections representative

Differences between installment loan collector and collections representative duties and responsibilities

Installment loan collector example responsibilities.

• Monitor all assign accounts by reviewing the client's aging, manage all potential bad debit, DSO, aging.
• Review and verify insurance, Medicare and/or Medicaid accounts against third party billing program provisions and procedures.
• Secure modification documents including HAMP and bank require documents.

Collections representative example responsibilities.

• Protect A/R assets by managing a portfolio of accounts to maximize gainful sales and reduce debt losses.
• Maintain effective communication and utilize negotiation skills with internal and external customers to effect collections while maintaining customer good will.
• Submit all reconsideration and appeals if need.
• Conduct periodic data cleaning of queues balances deny with deny appeals.
• Resolve valid or authorize NSF charges due to decline credit cards or ACH transactions.
• Collect and count inventories, reconcile purchases and scan UPC's and inputting price information.
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