Installment loan collector vs collector

The differences between installment loan collectors and collectors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both an installment loan collector and a collector. Additionally, an installment loan collector has an average salary of $36,109, which is higher than the $34,872 average annual salary of a collector.

The top three skills for an installment loan collector include customer service, and . The most important skills for a collector are patients, customer service, and payment arrangements.

Installment loan collector vs collector overview

	Installment Loan Collector	Collector
Yearly salary	$36,109	$34,872
Hourly rate	$17.36	$16.77
Growth rate	-8%	-8%
Number of jobs	11,966	23,948
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 31%	Bachelor's Degree, 31%
Average age	46	46
Years of experience	12	12

Installment loan collector vs collector salary

Installment loan collectors and collectors have different pay scales, as shown below.

	Installment Loan Collector	Collector
Average salary	$36,109	$34,872
Salary range	Between $27,000 And $48,000	Between $27,000 And $44,000
Highest paying City	-	Los Angeles, CA
Highest paying state	-	Alaska
Best paying company	-	Uline
Best paying industry	-	Finance

Differences between installment loan collector and collector education

There are a few differences between an installment loan collector and a collector in terms of educational background:

	Installment Loan Collector	Collector
Most common degree	Bachelor's Degree, 31%	Bachelor's Degree, 31%
Most common major	Business	Business
Most common college	-	-

Installment loan collector vs collector demographics

Here are the differences between installment loan collectors' and collectors' demographics:

	Installment Loan Collector	Collector
Average age	46	46
Gender ratio	Male, 52.7% Female, 47.3%	Male, 36.0% Female, 64.0%
Race ratio	Black or African American, 8.4% Unknown, 3.8% Hispanic or Latino, 18.1% Asian, 3.7% White, 65.5% American Indian and Alaska Native, 0.5%	Black or African American, 12.1% Unknown, 4.1% Hispanic or Latino, 20.1% Asian, 3.8% White, 59.5% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between installment loan collector and collector 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.

Collector example responsibilities.

Manage patient focuse reports, collection modules, provider/facility A/R, collections, patient discharge letters.
Monitor all assign accounts by reviewing the client's aging, manage all potential bad debit, DSO, aging.
Prevent impeding loss and increasing profitability through negotiation and enforcement of schedule collection campaigns, consistently achieving high success standards.
Provide customer service via telephone and correspondence for patients and authorize representatives regarding outstanding patient accounts in accordance with facility protocol.
Verify and run eligibility on the following insurance, Medi-Cal, Medi-Cal HMO, Medicare, Medicare HMO.
Provide excellent customer service while following HIPPA confidentiality laws.

Installment loan collector vs collector skills

Common installment loan collector skills

Customer Service, 100%

Common collector skills

Patients, 14%
Customer Service, 10%
Payment Arrangements, 10%
Excellent Interpersonal, 9%
Delinquent Accounts, 8%
Student Loans, 5%