Debt Collection Jobs
Role Overview
Debt collectors help businesses and individuals collect overdue payments for goods or services. They may also help people manage their finances and establish plans to pay the money they owe.
Debt collectors may do some or all of the following:
- discuss with businesses the details of the money owed to them
- contact people by phone or letter to inform them of an unpaid account
- explain the terms of sale, credit or contract conditions
- provide credit reports for clients
- advise people on how to pay the overdue account
- arrange payment of overdue accounts
- arrange for legal action on unpaid accounts organise the repossession of goods secured by a hire purchase agreement in order to settle unpaid bills
- arrange for businesses to receive the repossessed goods or the money owed
- train staff
- keep records and prepare statements
- prepare legal documents.
Qualifications, Skills & Experience
Debt collectors must have good oral and written communication skills. They need to have good computer skills. They should have good organisational and decision-making ability.
Debt collectors need to be polite, tactful, honest and firm in dealing with people. They also need to be persuasive and persistent, and self-motivated. They should work well under pressure and be able to relate well to people from a variety of backgrounds.
There are no specific educational requirements to become a debt collector; however, a tertiary entrance qualification is useful to enter further training. Useful subjects include English, legal studies, economics and accounting.
Experience working as a law clerk or as a clerk of courts is useful. Police work and credit control work may also be helpful.
Career Progression
The outlook for debt collectors is good and the number of people employed in this occupation is expected to remain stable or increase moderately over the next two to three years.
As your experience and knowledge grows, it is easy to progress into 'Credit Control' or senior 'Collections Management' positions.
Useful Debt Collection Links
The Association of Credit Professionals
Institute of Credit Management
Credit Services Association
CIFAS
Civil Court Users Association
Credit, Collections & Risk Magazine
Credit Today Magazine
