What is a Bill and Account Collector?
Bill and account collectors are professionals who work to recover payments on overdue bills or accounts. They contact customers, negotiate payment arrangements, and maintain records of collection efforts. Their primary goal is to retrieve funds owed to a company while adhering to legal guidelines and maintaining customer relationships where possible.
Typical Education
A high school diploma or equivalent is the typical entry-level education, with most training provided on the job.
Salary Range (United States)
According to the U.S. Bureau of Labor Statistics (BLS), the median annual wage for bill and account collectors was $46,040 in May 2024. The lowest 10% earned less than $31,540, while the highest 10% earned more than $65,830.
Source: U.S. Bureau of Labor Statistics, Bill and Account Collectors: Occupational Outlook Handbook
Day in the Life
https://www.youtube.com/watch?v=1h4A1I2H1Ps
How to Become a Bill and Account Collector
Obtain a High School Diploma: This is the foundational educational requirement.
- Gain Customer Service Experience: Experience in customer service is highly beneficial.
- Apply for Entry-Level Positions: Many roles offer on-the-job training.
- Learn Relevant Laws: Familiarize yourself with regulations like the Fair Debt Collection Practices Act (FDCPA).
- Develop Key Skills: Focus on improving communication, negotiation, and problem-solving abilities.
Essential Skills
Communication: Clear, persuasive, and patient verbal communication is vital for interacting with debtors.
- Negotiation: The ability to work with individuals to set up feasible payment plans.
- Problem-Solving: Finding solutions for complex financial situations.
- Active Listening: Understanding the debtor's situation to find common ground.
- Stress Management: The role can be challenging, requiring a calm demeanor.
- Record Keeping: Meticulously documenting all interactions and payment arrangements.
Key Responsibilities
- Contacting Debtors: Reaching out to individuals or businesses with overdue accounts via phone, mail, or email.
- Negotiating Payments: Discussing payment options and establishing payment plans.
- Maintaining Records: Documenting all collection activities, including communications and payment promises.
- Locating Debtors: Using various methods to find contact information for individuals with delinquent accounts.
- Adhering to Regulations: Ensuring all collection practices comply with federal and state laws, such as the FDCPA.
- Reporting: Providing updates on collection efforts and account statuses to management.
Common Interview Questions
- "How do you handle a difficult or angry customer on the phone?" (The interviewer is looking for your emotional intelligence, de-escalation skills, and ability to remain professional under pressure.)
- "What methods do you use to locate a customer with a past-due account?" (This assesses your knowledge of skip tracing techniques and your resourcefulness in finding contact information.)
- "Tell me about a time you successfully negotiated a payment plan with a customer." (This is a behavioral question that evaluates your negotiation skills and ability to find a mutually beneficial solution.)
- "How do you ensure you are compliant with all federal and state debt collection laws?" (The interviewer wants to see your understanding of the legal landscape, such as the Fair Debt Collection Practices Act (FDCPA), and your commitment to ethical practices.)
- "What is your strategy for prioritizing accounts? How do you decide who to call first?" (This tests your organizational skills and your ability to work efficiently and strategically to maximize collections.)
Questions?
Ask in our Career Community.