Bill and Account Collectors
What is a Bill and Account Collector?
Bill and Account Collectors are professionals who are responsible for seeking payment on overdue bills and accounts. They play a crucial role in maintaining the financial health of businesses by ensuring that debts are collected in a timely manner. These collectors typically work for collection agencies, credit departments, or directly for businesses. Their primary responsibilities involve contacting debtors via phone, email, or direct mail to negotiate payment plans, verify account information, and discuss potential solutions for settling outstanding debts. They must often navigate challenging conversations, employing negotiation tactics and problem-solving skills to persuade individuals or businesses to make payments. Bill and Account Collectors need to understand financial regulations and consumer rights to ensure that their collection practices are ethical and compliant with the law. In addition to collecting debts, they may also maintain records of customer interactions and payment arrangements, analyze account information, and report back to their employers on the status of collections. The role requires strong communication skills, persistence, and the ability to remain calm under pressure, as collectors frequently deal with individuals who may be distressed or uncooperative.
Tasks
- Record information about financial status of customers and status of collection efforts.
- Locate and notify customers of delinquent accounts by mail, telephone, or personal visits to solicit payment.
- Locate and monitor overdue accounts, using computers and a variety of automated systems.
- Arrange for debt repayment or establish repayment schedules, based on customers' financial situations.
- Advise customers of necessary actions and strategies for debt repayment.
Technology Skills
- Customer relationship management CRM software
- Presentation software
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Data base user interface and query software
- Relational database software
- Accounting software
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Information retrieval or search software
- LexisNexis
- LexisNexis Bankruptcy Solutions
- TCI XML Credit Interface
- W3 Data BatchAppend411
Tools Used
- Notebook computers
- Personal digital assistant PDAs or organizers
- Autodialers
- Special purpose telephones
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Scanners
Knowledge
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English Language
Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
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Customer and Personal Service
Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
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Mathematics
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
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Economics and Accounting
Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
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Law and Government
Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
Skills
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Active Listening
Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
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Speaking
Talking to others to convey information effectively.
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Persuasion
Persuading others to change their minds or behavior.
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Social Perceptiveness
Being aware of others' reactions and understanding why they react as they do.
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Writing
Communicating effectively in writing as appropriate for the needs of the audience.
Abilities
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Oral Comprehension
The ability to listen to and understand information and ideas presented through spoken words and sentences.
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Oral Expression
The ability to communicate information and ideas in speaking so others will understand.
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Speech Clarity
The ability to speak clearly so others can understand you.
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Speech Recognition
The ability to identify and understand the speech of another person.
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Written Comprehension
The ability to read and understand information and ideas presented in writing.
Education
How much education does a new hire need to perform a job in this occupation?
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High school diploma or equivalent
or: GED, High School Equivalency Certificate
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Some college, no degree
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Bachelor's degree
Work Activities
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Working with Computers
Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
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Organizing, Planning, and Prioritizing Work
Developing specific goals and plans to prioritize, organize, and accomplish your work.
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Communicating with Supervisors, Peers, or Subordinates
Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
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Documenting/Recording Information
Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
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Resolving Conflicts and Negotiating with Others
Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.
Detailed Work Activities
- Maintain financial or account records.
- Monitor financial information.
- Provide notifications to customers or patrons.
- Negotiate financial arrangements.
- Discuss account status or activity with customers or patrons.
Work Interests
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Conventional
Work involves following procedures and regulations to organize information or data, typically in a business setting. Conventional occupations are often associated with office work, accounting, mathematics/statistics, information technology, finance, or human resources.
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Enterprising
Work involves managing, negotiating, marketing, or selling, typically in a business setting, or leading or advising people in political and legal situations. Enterprising occupations are often associated with business initiatives, sales, marketing/advertising, finance, management/administration, professional advising, public speaking, politics, or law.
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Social
Work involves helping, teaching, advising, assisting, or providing service to others. Social occupations are often associated with social, health care, personal service, teaching/education, or religious activities.
Job Outlook
Projected salary and job growth
$31960.0 - $62360.0
New job opportunities are less likely in the future. : Below Average
Assessment
Related assessments and tests
No assessment available.