Debt Collector Job Description: Top Duties and Requirements

A Debt Collector, or Collections Agent, is an individual who contacts people with unpaid bills or accounts in search of overdue amounts. Their main duties include notifying the debtor of their unpaid balance, arranging payment over the phone or in-person, and locating or tracing debtors by calling friends, family, and neighbours if the individual is difficult to contact.

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Debt Collector duties and responsibilities

There are many daily duties and responsibilities a Debt Collector must perform daily. Some of the most common tasks include:

  • Keep records of overdue balances and payment plans
  • Suggest payment plans and options for the debtor to resolve their debt
  • Follow up on bounced cheques and report any fraudulent payment attempts to the local authorities
  • Answer customer questions and provide information to help the debtor understand how to resolve their unpaid account
  • Negotiate settlements on behalf of the lender
  • Report overdue accounts to collections agencies
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Debt Collector Job Description Examples:

 

Example 1

This dynamic, growing organization is currently recruiting for a Debt Collector/Legal Assistant – First Party Collections. We are looking to grow our team with people who share our energy and enthusiasm for creating the best experience for our customers. iFinance Canada Inc. is a national consumer financing company that’s offered an array of financing to Canadians since [phone number]This position is a great opportunity to build on existing legal and communication skills as well as to fine tune your multi-tasking abilities, while developing your debt resolution and problem-solving skills. *Key responsibilities of the position include: *
  • Legal debt collection through Small Claims Court paperwork and processes
  • Representing the company in Small Claims Court
  • Convincing debtors to repay debts outstanding
  • Inbound/outbound collection calls (no tele-marketing; no auto-dialer)
  • Reviewing accounts and make payment arrangements with clients
  • Skip Tracing
  • Customer service: update Client contact & account information; e payout balances etc
  • Responding to client enquiries
  • Providing superior professional service to valued clients *Position Benefits: *
  • Very stable company
  • Positive environment and good hours
  • Competitive salary with incentive program
  • Superior benefits including extended health care, gym membership and RRSP plan. *The ideal candidate will have the following *
  • Experience with legal paperwork preferred
  • Knowledge or experience of Small Claims Court is an asset
  • Debt collection knowledge or experience preferred
  • Positive individual with very good attention to detail
  • Excellent communication and problem solving skills, quick thinker
  • Must be able to work independently, as well as in a team environment
  • Punctual, professional and reliable
  • Exceptional customer service experience
  • Good references – a thorough background check is required
  • Bilingual French/English is an asset. *Must be willing to travel to Small Claims Court locations in Ontario and must have a valid Ontario Drivers License.* Must be willing to work full range of shifts within the following hours:
  • Monday to Friday: 8:30am to 9:00pm EST
  • Saturday: 9:00am to 5:00pm EST. Approximately once a month This is an excellent, full time permanent position with a well known company. The position is located in Yorkville (Bay /Bloor) and is easily accessible by TTC. *COVID-19 considerations: * We are looking to hire as soon as we find the right candidate. As a deemed essential service business, on-boarding will be done as a mix of safe and socially distant training in office (with masks and gloves provided if needed) and remote sessions (remote trainers contacting the new employee in the office). It is most likely that subsequent to initial training and demonstration of capability that the position will evolve into work from home while our office continues to be on minimal staffing. This position would then be work-from-home temporarily and would transition to our office location in the future iFinance Canada is an equal opportunity employer and will make accommodations available to applicants with disabilities upon request and throughout the entire recruitment process. *Due to the volume of applications we receive, only those candidates selected for telephone interviews will be contacted.* Job Types: Full-time, Permanent Benefits: * Dental care * Extended health care * Vision care Schedule: * 8 hour shift * Day shift * Monday to Friday * Night shift * Weekends Experience: * Legal Debt Collection: 1 year (preferred) Work remotely: * Temporarily due to COVID-19
  • Example 2

    _*National Recovery Corp*_ is looking for a *Third Party Debt Collector *to join their active Collections Team. This is a huge opportunity for someone who is driven and goal oriented as *_National Recovery Corp_* rewards performance with a bonus and commission package above and beyond base salary pay. Your income is not capped or limited. *Duties and Responsibilities include, but are not limited to: * - Perform outbound and inbound calls to connect with account holders, discuss delinquency and recover debt - Use tools such as letters, skip-tracing and call strategies to maximum contact and performance - Negotiate settlements - Achieve / Exceed monthly performance objectives *The right candidate will possess the following qualifications: * - Detail Oriented - Ability to Multitask - Ability to follow Company Processes, Rules, & Policies - Motivation to succeed - Positive, Energetic Attitude - 3rd Party Collections Experience is an asset *Hours of Work: * Monday-Friday 8:00am-4:30pm (Thursdays 11:00am-8:00pm) *Salary: * Salary: $3,000.00 to $5,000.00 /month salary base pay plus structure, depending on relative experience. National Recovery Corp is a leading edge and innovative Collections Agency with a close team of positive and driven employees. Join our Team today! Application deadline: [phone number]06-21 Job Types: Full-time, Permanent Salary: per month Additional pay: * Bonus pay * Commission pay Benefits: * Casual dress * Dental care * Extended health care * On-site parking * Vision care Schedule: * 8 hour shift * Day shift * Monday to Friday * No weekends COVID-19 considerations: Until Ontario reaches 3rd stage of reopening, all of our collection agents are working from home. Once the office is able to reopen, we will require proof of vaccination, daily health check ins, bi-weekly COVID tests administered on site, and distancing! Experience: * Third Party Collection Agency: 1 year (preferred) Language: * English (required) * French (preferred) Work remotely: * Temporarily due to COVID-19

    Example 3

    Action Collections & Receivables Management is one of the fastest growing collection agencies in Canada. Due to our ongoing success and growth we are in the process of expanding our Legal Division in Toronto, Ontario. We are conveniently located at Steeles Ave and Victoria Park and provide collection services to a broad range of Canadian corporations. Our clients include many of Canada’s largest banks, leasing companies, utilities and government sectors that have come to rely on ACRM for proven results and assistance in managing their portfolios by controlling delinquency and increasing recoveries. The successful candidate must have a minimum of 5 years’ experience in Legal collections and/or in a law firm and or a third party collections agency environment. Duties and responsibilities include: * Excellent written, oral, and interpersonal communication skills * Thorough knowledge of legal policies and procedures * Conduct daily outbound calls * Handle all daily follow ups on accounts * Handle inbound call volume specific to the Legal department * Ability to maintain a very high level of confidentiality * Ability to work in a fast paced environment on a volume basis * Excellent PC-based software application skills: Excel, Word, etc. * Strong ability to analyze information * Ability to organize, plan and execute multiple activities on a daily basis which require close attention to detail * Excellent oral communication skills Skilled at overcoming while negotiating * Sound, proficient and direct practical experience in Small Claims Court processes and litigation in Ontario and throughout Canada We are interested in hearing only from experienced, career-minded individuals seeking a long term opportunity. Successful Candidates will receive: * Competitive salary relative to experience * Performance bonuses and incentives * Employment & Health Benefits program is available All candidates will be required to undergo background checks, including comprehensive and mandatory reference checks – we are seeking only those candidates with proven and direct track records Job Types: Full-time, Permanent Salary: per year Additional pay: * Bonus pay * Commission pay Benefits: * Casual dress * Dental care * Extended health care * Life insurance * On-site parking * Vision care Schedule: * Monday to Friday COVID-19 considerations: ACRM adheres to all Health and Safety measures to ensure a SAFE working environment Work remotely: * No

    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.

    Job description samples for similar positions

    If a Debt Collector isn’t exactly what you were looking for, consider some similar job description samples including:

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    Debt Collector job description FAQs

    What is the difference between a Debt Collector and a Collections Specialist?

    A Debt Collector is an agent who handles unresolved payments and overdue accounts. They contact debtors to advise them of their debt and work out a repayment plan. A Collections Specialist has more experience and often serves as a managerial member of the team. They have specialized training in dealing with problem cases, training new staff members, and overseeing other Debt Collectors in their department.

    How can you make a Debt Collector job description stand out?

    A good Debt Collector job description will include a detailed list of daily requirements such as the types of clients (personal or business) to work with, the usual number of reports expected, the types of settlements the company expects debt collectors to make, and the number of files to oversee each month. You should also be sure to include information about any competitive benefits you’re offering such as pension and paid leave.

    What qualities should you look for in a Debt Collector candidate?

    A strong Debt Collector candidate is someone who is very comfortable speaking with others. They should be good listeners, patient, and willing to help. Debt collection can sometimes be difficult, so persistence is a major key to being a successful Debt Collector. Strong candidates are excellent communicators who don’t shy away from a challenge or give up easily. 

    What are the different types of Debt Collectors?

    A Debt Collector may be an Internal Debt Collector, working for a private institution like a utility provider, bank, credit card company, or loan company. They seek repayment of overdue accounts owed directly to the company they work for. If the debtor does not repay the amount they owe, the situation is escalated to Collections Agency Debt Collectors, who are third-party Debt Collectors. They are also often responsible for finding the debtor and getting the payment to their clients.

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