What does a Collection Specialist do?
Learn all about Collection Specialist duties, skills and much more. Get expert advice on how to become a Collection Specialist.
Published 3 min read
A collection specialist is a professional who is responsible for collecting debts owed to a company. This may involve contacting debtors, negotiating payment plans, and taking legal action if necessary.
Collection Specialist job duties include:
- Locate and notify customers of delinquent accounts by telephone, mail, or in person
- Establish contact with customers and perform customer service to collect payments
- Investigate and resolve customer inquiries
- Update account status information
- Prepare monthly reports
- Generate computerized lists of delinquent accounts
- Forward accounts to credit bureau and collection agencies
- Perform skip tracing to locate customers with delinquent accounts
- Negotiate payment arrangements with customers
Collection Specialist Job Requirements
Most employers prefer to hire collection specialists who have at least a high school diploma. However, some jobs may require postsecondary education, and many employers prefer to hire candidates who have completed some college coursework. Certification is not typically required for entry-level positions, but it may be beneficial for career advancement. Collection specialists typically need at least one year of experience working in customer service or a related field.
Collection Specialist Skills
- Active listening
- Problem solving
- Critical thinking
- Time management
- Data analysis
- Collection strategies
How to become a Collection Specialist
A Collection Specialist is a professional who is responsible for collecting payments on behalf of a company. This individual must have excellent communication and negotiation skills in order to successfully collect payments from customers. In addition, a Collection Specialist must be well-organized and detail-oriented in order to keep track of customer accounts and payment history.
If you are interested in becoming a Collection Specialist, there are a few things that you will need to do. First, you will need to obtain a high school diploma or equivalent. Next, you will need to complete some formal training, which can be obtained through a vocational school or community college. Finally, it is important to have some experience working in customer service or collections in order to be successful in this role.
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