What does a Debt Collector do?
A Debt Collector is responsible for recovering overdue payments from debtors. They maintain excellent records and answer all communications. If they have trouble recovering payment, they may escalate the case to a higher level of collections. A Debt Collector can be employed by a collections agency, utility company, bank, loan company, credit union, or government financing institution.
Debt Collector skills and qualifications
There are several skills and qualifications that are important in a good Debt Collector candidate, including:
- Excellent communication skills
- Exceptional organizational and record-keeping skills
- Strong analytical skills
- Excellent negotiation and conflict resolution skills
- In-depth knowledge of legal recourse for overdue accounts
- Knowledge of software programs and reporting systems used by the company
- Ability to multitask and prioritize as needed
- Strong attention to detail
Debt Collector experience requirements
Ideal Debt Collector candidates will have previous experience in debt collection or another related finance role. They will have experience dealing with related financial regulations and laws. However, for entry level positions, Debt Collector candidates do not need any prior experience in debt collection, as they can be trained on the job. If the Debt Collector position requires the supervision and training of other employees, look for a minimum of three years experience in candidates.
Debt Collector education and training requirements
A Debt Collector should generally have a high school diploma. In some provinces, such as British Columbia and the Yukon, Debt Collectors require a collections license from the governing body in their province. For the rest of Canada, no licences are necessary.
Debt Collector salary expectations
According to Indeed Salaries, average Debt Collector pay in Canada is $16.76 per hour. Wages may vary based on factors like geographical location, size and type of industry, and the candidate’s level of experience.
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