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It often takes a certain kind of person to work as a collections
specialist. Unfortunately for many who work in the collections
field, their job title automatically subjects them to
an often undeserved reputation. When many people think
of collections work, they immediately envision the stereotypical
collections scenario and assume the worst. They might
imagine phone calls at all hours of the day, coming from
pushy, irate, and often unreasonable collections agents
regarding the payment of bills and outstanding debt. However,
there is much more to collections than this somewhat embarrassing
segment of the industry. In many cases, those who work
in the collections field are educated, polite, and well
intentioned, and work for a number of well-known and respected
companies and organizations.
JOB FUNCTIONS AND DUTIES
A large portion of your work as a collections specialist
will be based around finding solutions to payment issues
with clients and customers. Utilizing your customer service
skills, your job in collections will likely require you
to work with a number of accounts to find methods for
customers to pay outstanding balances or negotiate payment
terms. Depending on your employer’s policies and
your level of expertise, you may also be allowed to make
determinations on certain aspects of payment terms or
writing off bad debt balances. In almost any case, expect
to communicate closely with your manager or supervisor
to keep them informed of collection processes and the
status of payment for your accounts.
While these job functions might not sound exciting at
first, your work as a collections specialist can be very
gratifying. Finding ways to effectively communicate with
clients and reach mutual understandings that behoove both
your employer and them can be quite rewarding.
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QUALIFICATIONS AND SKILLS
There will likely be a close correlation between the level
of qualifications and skills that you bring to the table,
and the size and number of accounts, as well as level
of responsibility with which you will be entrusted as
a collections specialist. The higher level of responsibility
needed for the position, the more likely you will need
certain qualifications to obtain such a position.
For larger accounts, high volume or corporate collections,
an employer may want anywhere from 1-3 years experience
or more in collections or related positions such as an
accounts receivable or customer service representative.
You can increase your chances of landing a position by
highlighting work or experience in roles that required
negotiating skills, a strong customer service background,
a high level of communications ability, and great organization
skills. The ability to work and make decision independently
is also a plus.
HOW CAN HAVING AN EDUCATION HELP?
So what if you don’t have the hands on experience
an employer is calling for in their job description for
a collections specialist position? What if your work background
isn’t chocked full of customer service experience?
This is where having a degree or educational background
to fall back upon can be helpful.
Employers are often more likely to take a chance on hiring
an individual with less experience if the candidate has
some sort of educational background. Whether this background
is an associate’s degree, a bachelor’s degree,
or even just college level courses in industry related
subject matter such as business or communications, it
can increase the chances of landing a job in the collections
field by replacing limited experience with online or college
campus coursework.
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