Debt Collector (225-727)

A Debt Collector is a vital part of the financial services industry, responsible for recovering overdue funds and managing overdue accounts. This role involves contacting individuals or businesses with outstanding debts and negotiating repayment plans that are suitable for both the debtor and the organization. The Debt Collector needs to demonstrate strong communication skills, patience, and persistence while adhering to all legal guidelines and regulations. They play a crucial role in maintaining the financial health of the company by ensuring that outstanding debts are minimized and cash flow is optimized. The ideal candidate will have a keen eye for detail, excellent negotiation skills, and the ability to handle challenging conversations with professionalism and empathy.

Responsibilities

• Contact individuals by phone or mail to address and collect debts.
• Negotiate repayment terms with debtors and formulate payment plans.
• Maintain accurate records of debtor communication and payment agreements.
• Monitor and update account statuses regularly in the company database.
• Ensure compliance with all federal and state regulations during debt collection.
• Research and locate debtors using various tracking techniques and databases.
• Collaborate with legal counsel when necessary on persistent delinquent accounts.
• Evaluate debtor financial circumstances to propose viable solutions for repayment.
• Provide comprehensive reports to management on monthly collection activities.
• Resolve disputes and negotiate settlements on accounts in a timely manner.
• Respond promptly to inquiries from debtors to facilitate timely resolutions.
• Inform debtors of possible legal repercussions of non-payment and manage risks.

Requirements

• High school diploma or equivalent is required; a degree is an asset.
• Previous experience in a customer service or collections role is preferred.
• Solid understanding of collections procedures and practices is essential.
• Strong negotiation skills with the ability to resolve disputes effectively.
• Excellent verbal and written communication skills are mandatory.
• Familiarity with relevant state and federal debt collection laws is important.
• Proficiency in using databases and accounting software for record-keeping.
• Ability to manage stressful situations and handle difficult conversations tactfully.