What does a Collection Specialist do?

Collectors recover overdue payments and past due accounts by tracking debtors down using the phone or mail. They work with them to make payments, negotiate repayment plans, and encourage them to find alternative solutions. Collectors locate clients using skip tracing methods and often interview them over the phone once they connect with them. During the interviews, they establish the ability to pay and encourage clients to utilize options including a credit card to process payment. Collectors negotiate settlements and arrange client payments over a longer period and confirm information and payment agreements with them.

Collectors must comply with applicable laws, regulations, policies, and procedures and inform management regarding a strategy’s effectiveness with various accounts. Collectors report client information to creditors and convey delinquent accounts’ status while reporting repayment plans and negotiations. Collectors also stay mindful of clients’ possible fears about being contacted for past due accounts and sometimes refer them to debt counselors for additional assistance. Collectors need a minimum high school diploma, GED, or equivalency and previous work experience in customer service, sales, collections, or related fields

Work/Life Balance
3.4 ★
Salary Range--
Career Opportunity
3.2 ★
Avg. Experience8+ years

Collection Specialist Salaries

Average Base Pay

$37,053 /yr
Same as national average
Not including cash compensation
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Median: $37K
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Glassdoor Estimated Salary

Collection Specialist Career Path

Learn how to become a Collection Specialist, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.

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Collection Specialist Insights

Read what Collection Specialist professionals have to say about their job experiences and view top companies for this career.
Top Stack GroupTop Stack Group
Data Collector
Oct 8, 2019

“They are awesome and we’re able to help me find a job in line with my career path.”

Senior Payment Specialist
Jul 7, 2020

“I was a highly respected employee and consistently recognized for my performance and work ethic.”

Collections Senior
Feb 13, 2020

“The training is great and they really focus on getting you to work to your full potential.”

Cardinal HealthCardinal Health
Aug 25, 2021

“Career development is highly encouraged meaning it is not uncommon for people to move around roles every 2”

American ExpressAmerican Express
Credit and Collections Specialist
Jun 19, 2019

“She sold it to me as a client relationship management role which is a very different thing.”

Preting ConsultingPreting Consulting
Senior Intelligence Collection Manager
Feb 11, 2021

“Some of the best opportunities working with some of the most elite individuals in the field.”

Collections Representative
Aug 2, 2021

“Great work life balance; there isn't many days I ever feel work stressed.”

Apria HealthcareApria Healthcare
Collections Representative
Sep 16, 2021

“I’ve never received a raise above 2% even though I received a good performance appraisal.”

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Collection Specialist Interviews

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Collection Specialist Jobs