The Bill Collector is responsible for locating and notifying customers of delinquent accounts either by mail, telephone, or a personal visit to solicit payment. They negotiate repayment plans with the debtors and help them find solutions to make paying their overdue bills a little easier. The entire process includes receiving payments and posting the amount to the customer’s account, preparing statements to the credit department if the customer fails to respond, initiate any repossession proceedings or service disconnection, and keep a record of all collection and the status of the accounts. The main responsibility of the Bill Collector is finding a solution that is acceptable to the debtor and maximize payments to the creditor. Being able to listen and respond to the debtor while paying close attention to their concerns can help the collector negotiate a simplified, easier solution for both parties.
Bill Collectors use computer systems to update contact information and record past collection attempts. These records are critical for collectors to help any future negotiations. If the collector and debtor agree on a repayment plan, the collector must continually check in with the debtor to ensure that they are paying on time and with the correct amount. If they are not complying with their repayment plan, the collector is obligated to submit a statement to the creditor, who can then take legal action. With very extreme cases, this legal action may even include taking back goods or discontinuing a service.
Many Bill Collectors work for a third-party collection agency or in-house for a creditor such as a credit-card company or health care provider. Both collectors have similar day-to-day activities except the third-party agency will have the collector visit different types of organizations and their debtors. They usually have goals to meet for their employer such as a standard number of calls per day, success rates on collecting the debt, and how quickly they achieve a debt collection, if at all. To be successful at their job, they should know principles and processes for providing customers with personal service. Collectors must also have knowledge of administrative and clerical procedures and systems to manage files and records. Lastly, an understanding of economic and accounting principles and practices are an excellent trade skill to further understand the debt and the creditors.
If applying for a Bill Collector position, your resume should include your daily call numbers or contacts with a debtor and the success rate you have with obtaining a successful repayment plan with the debtor. Higher success rates make you a more desirable candidate to have. Reporting and managing records is the most important aspect to the position since you need to look back on notes on what the debtor needs to be happy on a repayment plan, what actions have taken place, and whether or not they are actually making on time required payments. Without keeping track, you won’t know if the debtor is on time with the creditor and you’ll lose your credibility. Your resume should include any software used to update these records and how they helped you be more successful. Lastly, communication is key for both parties and being able to work with the debtor calmly and effectively as well as the creditor makes for a more successful repayment. Add how you effectively communicated with both parties to ensure a quick repayment.
Bill Collector Resume Builder Power Words: bill, collector, debt, creditor, reporting, repayment plan, success rate, and collection.
