Collection workers—sometimes known as bill collectors, collection correspondents, or collection agents—are employed to persuade people to pay their overdue bills. Some work for collection agencies (which are hired by the business to which the money is owed), while others work for department stores, hospitals, banks, public utilities, and other businesses. Collection workers contact delinquent debtors, inform them of the delinquency, and either secure payment or arrange a new payment schedule. If all else fails, the...
Minimum Education Level
Collection workers might receive a salary plus a bonus or commission on the debt amounts they collect. Others work for a flat salary with no commissions. Since the pay system varies among different companies, incomes vary substantially. In May 2018, the median hourly wage for bill collectors working full time was $17.32, according to the U.S. Department of Labor (DOL). This hourly wage translat...
Most collectors work in pleasant offices, sit at a desk, and spend a great deal of time on the telephone. Because they spend so much time on the phone, many collectors use phone headsets and program-operated dialing systems. The collection worker sits in front of a computer, reviewing and entering information about the account while talking to the debtor on the phone.
Rarely does a colle...
Employment of bill and account collectors is projected to decline approximately 8 percent from 2018 to 2028, according to the U.S. Department of Labor (DOL).
The collection industry has undergone consolidation in recent years, as larger agencies have increased market share, and smaller agencies have downsized. This has decreased employment, as overlapping positions have been terminated. ...