Debt Collector
Debt collectors help businesses and individuals collect overdue payments for goods or services. They may also help people manage their finances, including setting up payment plans to help people clear their debts.
Tasks & duties
Debt collectors may do some or all of the following:
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discuss with client businesses what money is owed to them
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contact people by phone or letter to inform them of unpaid accounts
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explain the sale, credit or contract terms
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provide credit reports for clients
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advise people on how to pay overdue accounts
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arrange payment of overdue accounts
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arrange for legal action to be taken on unpaid accounts
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organise the repossession of goods to settle unpaid bills
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arrange for businesses to receive repossessed goods or money owed
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keep records and prepare statements
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prepare legal documents
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train staff
Skills & knowledge
Debt collectors need to have:
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knowledge of the relevant sections of the Sale of Goods Act, Hire Purchase Act, Privacy Act and Possession of Chattels Act
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knowledge of District Court rules and procedures
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basic accounting and maths skills
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good oral and written communication skills
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organisational skills
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decision-making ability
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computer skills
Entry Requirements
Although there are no specific entry requirements to become a debt collector, some employers prefer you to have a tertiary qualification such as a Bachelor of Arts.
Secondary Education
A tertiary entrance qualification is required to enter further training. Useful subjects include English, legal studies, economics and accounting.
Training on the job
Most skills in debt collection are gained on the job.
Useful Experience
Useful experience for debt collectors includes:
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work as a law clerk or clerk of courts
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police work
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credit control work
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work in a financial environment such as a bank or insurance company
For more information, please refer to myfuture.
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