Bill and account collector essential career information:
- 2012 median pay: $32,480
- 2012, number of jobs: 385,890
- Employment growth forecast, 2010-2020: 14 percent
- Entry level education requirements: High school diploma or equivalent
Bill and account collectors; what they do:
Account collectors and bill collectors work with the financially challenged to help them find alternatives to get out of debt and back on the road to a responsible lifestyle. Bill collectors and account collectors recover payment on outstanding bills, initiate repossession or other collection proceedings if necessary and negotiate repayment plans to help those in debt get the assistance they need to settle overdue bills and charges.
Account collector careers include tracking down people and businesses which have outstanding bills, using the internet or credit bureaus to investigate consumers who have out-of-date addresses and preparing statements to credit offices if consumer fails to return calls or respond. Account collector careers also include negotiating payments with those in financial crisis and suggesting helpful ways to overcome debt or referring the consumer to a debt counselor.
Bill collectors and account collectors job titles:
- Account Representative
- Collections Manager
- Credit Clerk
- Patient Access Specialist
- Debt Collector
- Accounts Receivable Specialist
- Patient Account Representative
Bill and Account Collectors Education, Certification and License Requirements
Typically, most account collectors and bill collectors need a high school diploma to enter the field. However, some employers prefer candidates who have call center experience and have completed college courses in areas such as computers and accounting.
To begin a bill collector career, training consists of learning policies, understanding specific debt collection regulations, following laws such as those required through the Fair Debt Collection Practices Act, learning negotiating skills and computer software programs. The training can take up to three months to complete.
Bill and account collector programs cover subjects such as:
- Negotiating skills
- Computer skills
- Records management
- Communication skills
Bill and Account Collectors Job Outlook
Forecast: 14 percent employment growth for bill and account collectors from 2010 to 2020, as fast as the average for all occupations.
However, outsourcing debt collector jobs oversees; automated calling systems and new computer software programs have slowed the bill and account collector occupation growth.
Nevertheless, account collector careers should remain steady because there is higher success when workers negotiate with debtors. In addition, the rise in the nations’ medical debt as well as credit card companies selling their debts to third party companies increases the demand for bill and account collectors.
Bill and Account Collectors Salary
- 2012 median annual wage: $32,480
- 2012 workers at the 75th percentile annual wage: $39,420
- 2012, workers at the 25th percentile annual wage: $26,450
- Physician offices
- Business support services
- Credit intermediation
- Wholesale trade