Debt Collectors collect consumer, commercial, insurance and other forms of debt for clients, make arrangements to settle overdue accounts, formalise payment arrangements and follow up until accounts are fully paid.
A Certificate II or III, or at least 1 year of relevant experience, is usually needed to work in this job. Around two in five workers have Year 12 as their highest level of education. Even with a qualification, sometimes experience or on-the-job training is necessary. Registration or licensing may be required.
- liaising with clients, credit staff, accounts receivable departments, process servers, Private Investigators, Barristers and Solicitors to find solutions to payment problems
- identifying, locating and notifying debtors of overdue accounts in writing, by telephoning and in person, and arranging for payments to be made
- tracing addresses of debtors who have moved
- arranging new repayment plans for debtors having difficulties making existing repayments
- referring debtors' disputes to creditors
- issuing instructions for the commencement of legal action and enforcement to recover money
- arranging for money and goods collected to be transferred to creditors' possession, and preparing statements of account for creditors
- recording amounts collected and noting any further action required
- complying with debt collection guidelines and relevant legislation
- Debt Collector, or Mercantile Agent