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6-10 years of experience
Initiated and received high volume customer calls regarding outstanding State of Virginia tax debts
- Negotiated immediate full payments or acceptable and timely payment arrangements
- Collected customer payments in accordance with payment due dates
- Identified and discussed issues attributing to account delinquency with management
- Provided timely follow-up on payment arrangements
- Reviewed and maintained all customer information for assigned accounts
- Consistently ranked among the top 5 collections specialists each year
0-5 years of experience
Handled a portfolio of service receivables from U.S. and Canadian accounts which averaged from $1.2 million to $1.5 million.
- Maintained an average DSO below 43 days.
- Maintained receivables over 90 days below 2% of total outstanding receivables.
- Identified billing discrepancies and immediately forwarded information to Discrepancy Specialist for investigation and resolution.
- Handled incoming customer account inquiries promptly, generally on the same day.
- Responded to incoming trade reference inquiries consistently within 24 hours of receipt.
- Sent bank and trade reference inquiries on prospective accounts and followed up for responses within the established processing timeline.
- Provided revised customer information to management in a timely manner.
6-10 years of experience
Mitigated losses by collecting on the highest degree of designated high risk delinquent accounts on auto loans.
- Located customers and collateral through advanced skip trace techniques.
- Maintained good customer relations with borrowers and effectively solved problems in an effort to resolve account delinquency and prevent losses.
- Negotiated account resolution, accurately inputted and documented all actions within the collections system on as happens basis.
- Recommended collateral for repossession due to loan history and worked with outside repossession agencies to secure collateral properly.
0-5 years of experience
Made daily collection calls to customers for past-due invoices and short-payments.
- Worked with Sales Team to insure that delinquent accounts are identified in a timely manner.
- Coordinated with Sales Operations team to resolve invoice disputes.
- Prepared detailed collection notes and recommended changes in customer terms.
- Identified accounts that needed to be written-off as uncollectible.
- Processed credit checks using D&B on new and existing clients and communicated results accordingly.
6-10 years of experience
Assisted four collections specialist with their day to day collections and billing issues
- Implemented special collections projects along with the manager
- Reviewed patient accounts
- Made claim status calls to Insurance carriers
- Provided customer service regarding collections/billing issues
- Rebilled rejected claims
- Monitored and maintained assigned accounts, customer calls, account adjustments, small balance write offs, customer reconciliations and processing credit memos
- Resolved client discrepancies and short pays
0-5 years of experience
- Responsible for collections for 200 commercial accounts.
- Worked with the Sales Department to resolve collections issues in a timely and highly professional manner.
- Established and monitored lines of credit for new and existing customers.
- Reduced delinquency over 60 days from 25% to less than 2% by maintaining ongoing and productive contact with customers.
- Managed daily check reconciliations and maintained daily accounts receivable.
- Received constantly superior performance evaluations.
0-5 years of experience
- Performed delinquency collections for office, retail and government properties consisting of over 3000 tenants.
- Reconciled and generated monthly delinquency report status to management.
- Implemented a collections module and created department efficiencies to become more automated and less manual intensive.
- Collaborated with Accountants, Managers and Lease Administrators in resolving tenant delinquency issues.
- Initiated verbal and written communication with Tenants, Legal Counsel, Management and other related clients.
- Served as liaison between Asset Managers, Property Managers, Accountants and Tenants.
- Represented company in all legal proceedings resulting from delinquencies.
- Successfully reduced 30-90 day delinquencies by 85%.
0-5 years of experience
- Verified insurance coverage, computed patient’s benefits and compiled item prepared forms outlining hospital expenses for governmental, welfare and other agencies paying bill of specified patients hospital bills
- Typed data on insurance assignment forms
- Telephoned, wrote and reviewed insurance-claim forms and related documents for completeness.
- Located customers to collect installments, overdue accounts and non-payable checks.
- Appraised improved and unimproved real estate property to determine value for payment of delinquent debt regarding the deceased patients
- Kept record of collections and status of accounts
0-5 years of experience
Worked with an inbound and outbound call team.
- Called customers and advised them of balances owed on their ADT account.
- Sent collection notices to customer.
- Received calls from customers regarding their account.
- Won 3rd place collector for the month of January at $40,593
- Won 1st place collector for the month of February at $50,000
0-5 years of experience
- Reduced aging receivables from $9.5 million to $4 million
- Quickly gained proficiency in software applications: Intacct, Netsuite, Salesforce
- Granted the responsibility to manage collections efforts for all Enterprise level customers
- Performed account reconciliations resulting in the collection of an additional $175,000+
- Trained and managed six temporary workers to aid in collections efforts
- Led initiative to convert majority of customers with less than 10 users to credit card auto-payment system
- Developed relationships with international customers located in Asia-Pacific, Europe, and India
- Assisted in the restructuring of the cash application process
0-5 years of experience
- Resolved tax delinquency problems by initiating federal payroll levies, bank levies and federal tax liens on property and assets
- Coordinated payment arrangements for delinquent taxpayers, mailed collections and delinquent notices to taxpayers
- Prepared tax returns for the low income persons
- Conducted training sessions on the various new developing tax law regulations
0-5 years of experience
Inbound and outbound collection calls to customers to collect on payments owed on pass due or charged off accounts. Call center environment.
- 1st party collections on 1-120 day late accounts
- Followed company appropriate negotiation techniques
- Set up payment plans appropriate for the customer based investigation of circumstances
- Maintained a collection goal of 90% or more every month
0-5 years of experience
- Visited and phoned customers and attempted to persuade customers to pay amount due, or arranged for payment at later date.
- Located customers to collect installments, overdue accounts, damage claims, and no payable checks.
- Kept record of collections and status of accounts.
- Trained employees and achieved significant improvements in their productivity.
- Delivered bills, if necessary.
- Recommended criminal prosecutions and civil penalties.
0-5 years of experience
Spoke with customers daily to settle on reason for overdue payment
- Reconciled discrepancies with various clients
- Recorded information regarding financial status of client and status of collection efforts
- Granted extensions of credit
- Coordinated collection efforts with sales force
- Reviewed terms of sales, service, or credit contract
- Negotiated payment arrangements on past owing receivables
- Received incoming telephone calls and gave professional customer service help to customers about questions on delinquent accounts
6-10 years of experience
Managed all domestic and international accounts receivables (A/R)
- Utilized ELITE Collections system to track daily collections, trends, A/R total balances, and A/R over 120 days
- Conducted attorney’s monthly meetings to review A/R balances over $20,000 and associated action plans
- Handled all attorney and client inquiries regarding account status and follow-up
- Prepared monthly A/R and risk reports for attorneys
- Prepared and offered offset payment proposals to clients
- Worked with outside collection agencies for accounts the firm deemed uncollectible
- Processed all statement of accounts for all domestic and international clients
- Performed billing activities including opening and assigning new client numbers, file numbers, and processing monthly pre-bill reports, daily check and wire payments
0-5 years of experience
Extensive customer face-to-face interaction in order to reconcile delinquent accounts
- Responsible for collection of SBC business accounts rendered “severely delinquent”
- Responsible for the interface collection of auto / unit deficiency accounts involving repossessions, including businesses undergoing foreclosure and or bankruptcy
- Responsible for “Dialer”, handling incoming queries from customers
- Knowledge of legal process/procedures to collect on “high-risk” delinquent accounts
6-10 years of experience
Making outbound collection calls in a professional manner while keeping and improving customer relations
- Collect customer payments in accordance with payment due dates
- Provide timely follow-up on payment arrangements
- Develop and negotiate payment plans with the patients
- Resolve inconsistencies and prepare adjustments
- Prepare AR payments on an Excel spreadsheet
0-5 years of experience
Make outbound collection calls to customers and influence and negotiate with customers to make payments on the past due account.
- Verify customer information on account is correct and update as necessary using computer screens.
- Advise customers of the status of their account (paid current or past due) by reviewing account information on collections system.
- Educate customers regarding their account, interest accruals, late fees, credit reporting, payment options and account management options.
- Process customer payments via inter-company computer systems.
0-5 years of experience
Counseled consumers regarding delinquent payments, payment method programs, loan histories according to the default guidelines.
- Handled collection calls and/or correspondence in a fast paced goal oriented collections department.
- Accountable for reducing delinquency for assigned accounts.
- Perform other assigned tasks and duties necessary to support the Accounts Receivable Department.
6-10 years of experience
Responsible for Accounts Receivable management for six major health care clients
- Serves as financial liaison between vendors and clients
- Senior Specialist for high dollar claim management
- Performs look back analysis on payer trends and collectability
0-5 years of experience
Responsible for managing 350+ North American customers’ credit and collection accounts.
- Review daily bank reports for incoming payments.
- Perform customer credit reviews
- Coordinate with sales, accounts payable and customer service departments.
- Review outgoing wire transfers and ACH payments.
- Prepare monthly Accounts Receivable report for orders over $75K for senior management.
- Maintain monthly past due of 2%.
- Prepare documentation for audits.
- Maintain tax exempt database.
0-5 years of experience
Effectively communicate with defaulted student loan borrowers via telephone and written notices in order to obtain repayment in full or to establish acceptable payment arrangements
- Resolve issues of a non-routine nature as necessary
- Perform skip tracing and due diligence functions to ensure compliance of all Federal Regulations
- Adheres to the Fair Debt Collection Practices Act as well as all bankruptcy laws both state and federal
- Solicits loan consolidation and rehabilitation as appropriate
0-5 years of experience
Monitoring and administering customer accounts for a 219 room upscale conference hotel.
- Preparing account invoices, statements and bills.
- Generating weekly account aging reports.
- Initiated collection efforts to increase A/R aging from 58% to 98% and maintained this goal.
- Contacting delinquent accounts/ customers to secure payments.
- Investigating and resolving billing and account discrepancies.
- Managing, resolving and responding timely to customer and chargeback inquiries.
- Leading and conducting monthly credit meeting with Executive Committee and Senior Management.
- Manage 200+ fitness memberships; new fitness member implementation, billing and collection.
- Assisting the Director of Finance and Assistant Director of Finance with month-end closing.
0-5 years of experience
Run office Lease-to-Purchase Program and maintain database
- Perform skip tracing and verification for employment information
- Worked a volume of 350 accounts
- Review credit for loan eligibility
- Review accounts identified as eligible for collections litigation
- Handle incoming customer service calls and outgoing collection calls
0-5 years of experience
- Served as liaison to medical providers to gather information regarding patient eligibility for studies for the US Department of Health and Human Services
- Verified controls and processes were implemented to ensure privacy compliance with federal regulations
- Extracted and loaded data (including CPT-4, ICD-9 codes, and financial information) into Case Management System databases
0-5 years of experience
Collection of commercial advertiser accounts
- Auditing of invoices to ensure accuracy of billing
- High volume of internal and external customer contact
- Submission of collections reports to management
- $7 to $10 million collection portfolio
0-5 years of experience
Responsible for approximately 1500 warehouse accounts, with about 200 of these accounts being on the 60+ reports
- Reconciliation of payments
- Work in conjunction with the sales department
- Research credits and incorrect billings
- Working knowledge of SAP
- Maintained excellent customer service for the inside and outside clients
0-5 years of experience
Responsible for assigned portfolio of business to business accounts to obtain lowest possible DSO while retaining customer business
- Negotiates payment arrangements which keep the account from being forwarded for 3rd-party collections
- Work proactively with customers to confirm receipt of invoices and ensure payment will be issued in a timely manner
- Apply cash on account
- Reconcile payments and discrepancies on customer accounts
6-10 years of experience
Interfaced with 450 institutions of higher education to address concerns that interfered with timely payment of software licenses, maintenance, consulting services and travel expenses
- Interfaced with consultants and their managers to address client concerns that interfered with timely payment of consulting fees and travel expenses
- Discussed the feasibility of fiscal relief for the client consultant managers to expedite closure of disputes and have the customer remit immediate payment
- Issued manual invoices requested by institutions to conform with fiscal year budgets
10+ years of experience
- Reviewed payer correspondence to determine appropriate action.
- Contacted insurance payers and patients to collect payment while working Accounts Receivable aging report.
- Made adjustments to accounts as required.
- Documented all account activity in collections notes.
0-5 years of experience
Communicated with customers regarding collection accounts
- Provide a high level of customer service to visitor, callers and staff
- Accountable for reducing delinquency for assigned accounts
- Communicated and follow up effectively with sale department regarding customer accounts on a timely basis
- Established and maintain effective and cooperative working relationship with customers
- Responsible for monitoring and maintaining assigned accounts-customer calls, account adjustment, small balance write-off, customer reconciliations and processing credit memos
- Enter system notes pertaining to collection and disputes
- Negotiate payment plans and resolve disputed items
- Handle all faxes, email and other customer/sales request for action
- Provided accurate and timely follow up information to client and management
0-5 years of experience
Worked part of a select team with high expectations to perform collections efforts on delinquent accounts
- Correspond with customers to fully understand financial situations and calculate income/expenses to provide all options available to cure accounts and prevent foreclosure proceedings
- Communicate with customers, real estate agents, and attorneys to assist Portfolio Specialist with the completion of loan modifications and other loss mitigation options
- Assist with the training of new Customer Service Specialist
0-5 years of experience
Effectively dropped DSO from 100 to 45 days within three months.
- Responsible for collections, management and resolution of all escalated past due accounts.
- Process financial transactions, credits, short pays, sales tax for cost adjustments in a timely manner to maintain delinquent accounts.
- Research and analyze data to create aging reports for disputed invoices regarding damaged product and pricing issues for accurate resolution.
6-10 years of experience
Process worker’s compensation claims
- Accurately account for and post insurance payments to patient accounts
- Analyze and research all accounts that have been outstanding for more than 120 days
- Work closely with billing to ensure that accounts have been worked and codes have been accurately changed on denials
- Work to resolve patients complaints from the billing/collection department
0-5 years of experience
Managing assigned accounts and handling inbound/outbound calls
- Skip tracing, sending letters/emails, and generating customer contact
- Notating and modifying repayment terms on delinquent accounts
- Drafting specific amounts and dates with customers’ banking information
- Resolving on pre legal accounts/recommending attorney placement
0-5 years of experience
Customer Service Representative for open accounts receivable
- Review rejected invoices for validity
- Resend invoices and customer statements of account as needed or requested
- Review daily cash application report for discrepancies
- Verify payment status of outstanding invoices
- Notify and work with customers who are close or over their assigned credit limit to keep within limit
- Make collection calls to customers & prepare/maintain demand letters
0-5 years of experience
- Responsible for collections of Mortgage, 2nd Mortgage, Auto, RV, Motorcycle and Boat Loans
- Daily communications via telephone and mail
- Updated system with customer contact and results
- Meet with customers to resolve delinquencies
- Prepared all accounts for Foreclosure, Repossession or Lawsuit
- Proceeded Right of Set Off Transactions
- Continuously exceeded bank set collection goals
0-5 years of experience
- Responsible for the international and intercompany accounts receivable portfolio of USD10 million
- Total past due reduced from 1.8 million Jun 2011 to 382 thousand Jul 2014
- Intercompany accounts past due 181+days reduced from 524KUSD to $5Kusd.
- Responsible for training new employees and preparation of excel aging reports.
- Attend monthly finance meetings and biweekly executive interaction for development goals.
- Prepare legal documentation for filing suits, personal/corporate guaranties, and letters of credits
- Maintain daily contact with sales, customers, cash applications, and customer service
0-5 years of experience
- Business to Business Collections on over 100 high-risk accounts
- Successfully collected 90% plus of all accounts each month
- Record information about financial status of clients/debtors and status of collection efforts
- Managed account reconciliation, collections and ensured customer satisfaction
- Excelled in a fast paced environment
- Negotiate payment arrangements with customers under company policy
- Account Management/ Customer service
- Extensive skip tracing
0-5 years of experience
Recovery on inbound and outbound collection calls with care in a timely manner
- Managed large volume of calls on a daily basis
- Document necessary account information
- Offer custom solutions that benefit the customer
- Quickly balance customer interest with the interest of the company
0-5 years of experience
Process patient’s payments and insurance billing
- Provide clerical and accounting support
- Document and maintain accurate accounting entries
- Collect and prepare worksheets for collections
- Answer customers request in a professional and timely manner
0-5 years of experience
- Make outbound collection calls to customers who are at the 30-90 stage of delinquency on CAF accounts.
- Conduct skip tracing necessary to prepare account for next level of collections.
- Work with customers, repair shops, and insurance companies to obtain status of damaged vehicles and insurance claims.
- Understand and adhere to company collection policies, procedures, and collection laws.
0-5 years of experience
- Monitor insurance claims by generating appropriate reports and contacting insurance companies to resolve claims that are not paid in a timely manner.
- Identify and correct coding or billing issues.
- Work with guarantors to secure payment on outstanding account balances.
- Research each patient’s claim to ensure the patient is billed correctly.
- Evaluate all claims that are denied and provide the patient and the insurance provider with the reason for the denial as requested.
- Analyze insurance denials to determine appropriate appeal or write off protocol.
6-10 years of experience
Perform periodic credit reviews to set credit lines for new and existing customers
- Advise business leaders on credit risk for individual accounts
- Work with business teams to establish consistent credit policies
- Evaluate and review credit worthiness of the customer portfolio to minimize credit risk
- Take appropriate actions to resolve late payments and disputed invoices
- Build relationships with inside/field sales, leadership and legal advisors on credit assessments
- Respond to complex inquires and handle difficult account situations via phone, fax and email
- Excellent negotiation and communication skills to resolve delinquency and credit inquires
- Well organized and able to manage several projects independently as well as on a team
- Responsible for implementing and coordinating training to other credit & collection associates
0-5 years of experience
- Monitor insurance claims by running appropriate reports and contacting insurance companies to resolve claims that are not paid in a timely manner.
- Identify coding or billing problems from EOBs and work to correct the errors in a timely manner
- Call insurance companies from assigned account work pools to secure payments in a timely manner.
- Work with patients and guarantors to secure payment on outstanding account balances
- Identify coding or billing problems from EOBs and work to correct the errors in a timely manner.
- Update the patient account record to identify actions taken on the account
- Identify problem accounts and escalate as appropriate.
0-5 years of experience
- Collect on past due payments
- Call individuals with delinquent accounts
- Make customers aware of late fees for payments not made on time
- Set up payment arrangements for individuals unable to pay in full
- Follow up with payment arrangements on a consistent basis
- Process payments for customers seeking to bring accounts current
0-5 years of experience
Receive payments and post amounts paid to customer accounts.
- Locate and monitor overdue accounts, using computers and a variety of automated systems.
- Record information about financial status of customers and status of collection efforts.
- Locate and notify customers of delinquent accounts by telephone in order to solicit payment.
- Confer with customers by telephone to determine reasons for overdue payments and to review the terms of sales, service, or credit contracts.
- Advise customers of necessary actions and strategies for debt repayment.
- Persuade customers to pay amounts due on credit accounts, damage claims, or non-payable checks, or to return merchandise.
- Sort and file correspondence, and perform miscellaneous clerical duties such as answering correspondence and writing reports.
- Perform various administrative functions for assigned accounts, such as recording address changes and purging the records of deceased customers.
- Arrange for debt repayment or establish repayment schedules, based on customers’ financial situations.
0-5 years of experience
- Negotiated payments to bring customers current on accounts
- Maintained and updated all customers information within payment plan options for qualified customers
- Trained new hires on the collections software system.
- Located debtors through skip tracing
- Handled inbound and outbound calls on delinquent account representing various banks
- Setup payment plans options for qualifying customers
- Follow and comply with FDCPA regulations
- Meet monthly expectation quotas
- Provided customer service support
- Lien processing and data entry
0-5 years of experience
Provide excellent customer service
- Operate phone, PC, and collection software
- Collects accounts in a professional and consistent manner for major hospital clientele
- Accurately and timely document/input all telephone conversations
0-5 years of experience
- Contact customers with delinquent accounts to determine reason for overdue payment
- Arranges debt repayment/establish repayment schedule based on customers financial situation
- Maintains daily payment spreadsheets for customer payments within the Greater Chicago region to meet and exceed daily collection goals
Collection Specialist Duties and Responsibilities
In their daily work, collection specialists must complete several tasks to meet job demands. After examining several job listings, we have the found the following to be among the most commonly discussed for this occupation:
Call Delinquent Customers to Collect Debt In their main role, collection specialists contact customers who have stopped making payments on their debt in order to discuss methods for satisfying that debt. They use phone calls and emails to contact these customers to provide details about the amount of debt owed, penalties, and payment options. They must also maintain accurate records regarding dates and times of contact and customer account status.
Arrange Payment Options Once a customer has been contacted and is willing to discuss their debt payments, a collection specialist describes various options and plans available to the customer. This can involve working with accounting managers to create individual plans and talking with lawyers, insurance agents, and other parties.
Approve Payments and Extensions Collection specialists often have the authority to approve partial or other payment arrangements made by customers on their delinquent accounts. They can also approve time extensions on late payments and negotiate payment of late fees, fines, and other charges.
Collection Specialist Skills
Success in this role depends on the ability of a collection specialist to display strong communication, customer service, and negotiation skills. Collection specialists should be able to work independently, make quick decisions, and adhere to schedules. In addition, collection specialist should have above-average listening skills and be empathetic toward those who relate stories of personal and financial difficulties. Other traits that hiring managers look for include:
- Displaying excellent problem-solving, time-management, organizational, and math skills
- Maintaining customer account status information and contact documentation
- Respecting customers’ privacy and treating them with empathy
- Communicating with people from all walks of life
Collection Specialist Education and Training
While no formal degree or education is required to become a collection specialist, there are some training requirements that must be satisfied. Company-led training must usually be completed regarding the use of necessary software; collection specialists should also be trained in federal- and state debt collection laws and regulations. Several voluntary designations are available in this field, including professional collection specialist (PCS), credit and collection compliance officer (CCCO), and professional collection management (PCM).
Collection Specialist Salary
The BLS reports that collection specialists earn a median annual salary of $35,350. In the 10th percentile, these professionals earn $23,610 and in the top ten percent, $54,970. Collection specialists working for debt collection companies typically realize the highest salaries. Geographically, the highest mean annual salaries for collection specialists are seen in District of Columbia ($61,250), Connecticut ($44,820), and Massachusetts ($44,280). California ($43,460) and Alaska ($43,420) round out the top five states for collection specialist wages.
Collection Specialist Resources
To learn more about what it takes to become a collection specialist, follow links to blogs, books, professional organizations and more in the list below:
Association of Registrars and Collection Specialists (ARCS) – From professional development to networking opportunities, ARCS has been providing support to collection specialists since 1977, though its roots can be traced back to the 19th century. ARCS also hosts workshops, conferences, and educational webinars. Association of Credit and Collection Professionals (ACA – International) – Established in 1939, ACA – International provides more than 230,000 professionals with educational and training seminars and webinars and is heavily involved in advocacy activities.
InsideARM – This website for professional collection specialists provides detailed information about debt collection laws and regulations and trends in the field. Also contains links to webinars, conferences, and forums. COLLECTMore – Filled with tips and discussions about professional practices, this blog offers articles about everything from partial payment plans to collection specialist roles.
The Kaplan Group Blog – This insightful blog provides articles about best practices, professional strategies,
client care, and more.
The Debt Collection Industry is Calling: An Introduction to Your Career – This book follows the career path of a professional collection specialist and provides useful information for anyone considering or just beginning in this occupation.
Debt Collection Simplified – Get a detailed look at the realities of this career with this book, which recounts the personal stories of a certified professional collection specialist.
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Last edited by: Gabriela Barcenas, CPRW, Content Writer II -
Gabriela Barcenas
CPRW, Content Writer IIGabriela is a Certified Professional Resume Writer (CPRW) and career adviser. With 10 years of digital media experience and five years of resume writing expertise, her publication history includes fashion, education, travel, social justice, equitable design and career advice.