Payment collector vs debt collector

The differences between payment collectors and debt collectors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both a payment collector and a debt collector. Additionally, a payment collector has an average salary of $36,353, which is higher than the $33,865 average annual salary of a debt collector.

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

Payment collector vs debt collector overview

	Payment Collector	Debt Collector
Yearly salary	$36,353	$33,865
Hourly rate	$17.48	$16.28
Growth rate	-8%	-8%
Number of jobs	11,144	23,385
Job satisfaction	-	-
Most common degree	High School Diploma, 32%	High School Diploma, 34%
Average age	46	46
Years of experience	12	12

Payment collector vs debt collector salary

Payment collectors and debt collectors have different pay scales, as shown below.

	Payment Collector	Debt Collector
Average salary	$36,353	$33,865
Salary range	Between $31,000 And $42,000	Between $26,000 And $43,000
Highest paying City	-	San Francisco, CA
Highest paying state	-	California
Best paying company	-	Mayor Ethan Berkowitz
Best paying industry	-	Construction

Differences between payment collector and debt collector education

There are a few differences between a payment collector and a debt collector in terms of educational background:

	Payment Collector	Debt Collector
Most common degree	High School Diploma, 32%	High School Diploma, 34%
Most common major	Business	Business
Most common college	-	-

Payment collector vs debt collector demographics

Here are the differences between payment collectors' and debt collectors' demographics:

	Payment Collector	Debt Collector
Average age	46	46
Gender ratio	Male, 23.1% Female, 76.9%	Male, 30.7% Female, 69.3%
Race ratio	Black or African American, 14.0% Unknown, 3.8% Hispanic or Latino, 19.8% Asian, 3.7% White, 58.2% American Indian and Alaska Native, 0.5%	Black 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%
LGBT Percentage	8%	8%

Differences between payment collector and debt collector duties and responsibilities

Payment collector example responsibilities.

Prevent impeding loss and increasing profitability through negotiation and enforcement of schedule collection campaigns, consistently achieving high success standards.
Post payments, EOB's, billing, call insurance's, patient statements and follow up
Prevent impeding loss and increasing profitability through negotiation and enforcement of schedule collection campaigns, consistently achieving high success standards.
Utilize various skip-tracing services such as Accurint and TheWorkNumber in order to locate consumers and verify employment for account recovery purposes.

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.

Payment collector vs debt collector skills

Common payment collector skills

Customer Service, 28%
Payment Arrangements, 10%
Outbound Calls, 8%
Credit Card, 8%
EOB, 7%
Patient Accounts, 6%

Common debt collector skills

Customer Service, 9%
Outbound Calls, 9%
Payment Arrangements, 8%
Delinquent Accounts, 8%
Credit Card Payments, 6%
FDCPA, 5%