The economy has actually created a great platform for individuals who work within the collection industry. While unemployment is high, this industry is booming. However, prior to being able to work within this booming industry, individuals have to undergo credit and collections training.
When you are unable to pay your bills, due to whatever financial problem you may be facing, the last people that you want to talk to is a collector. To be honest, collectors do get a bad reputation, for simply doing their jobs. However, if you want to work in an industry that is never going to let you go, and give you job security, then working as a collector is a great way to go.
The tasks that these individuals perform, sound simple enough, but there is more to it than meets the eye. From the outside looking in, collectors receive accounts, and then place phone calls on those accounts, in order to get in contact with the individual who owes money. When they do speak with the individual, they try to persuade them to pay the money that is owed.
Training will include going over the debt recovery laws that exist, as well as learning how to use proper negotiation skills to get individuals to pay debts that are owed. The laws that govern this industry are known as the FDCPA, or in other words, the Fair Debt Credit Protection Act. This act was passed in 1973, to protect the individuals that are being collected from.
The law was set into place to protect the people that the collector is calling, it does not do anything to protect the collector at all. There have been a lot of court cases performed, regarding this law, and individuals not abiding by it. If a collector neglects to follow the law, they can be fined for it.
Being a collector can be extremely stressful. You are doing the one thing that you hate people doing to you, your job is to speak with individuals and convince them to give you money to cover debts that are owed. In a lot of the cases, the people that you will be speaking with, do not have the assets available to pay. That is the main reason why they ended up in collections in the first place.
You will need to convince the individuals that owe money, that it is their obligation to pay the debts that they have. It is also your job, to give the individual other options that they can try to get the money that they need to pay you for the money that they have borrowed. The job can be stressful, and the average amount of time that an individual spends working in this type of environment, is usually six months or less.
If you have a tough skin and can manage to speak to people, in an attempt to attain their money, then you could be successful working in this type of industry. With the right credit and collections training, it is possible to make a lucrative income, working in this type of business. In fact, there are some top collectors that make six figures, from the work that they do. Another great thing about this business, is the fact that debt is never going to entirely disappear, therefore, it's safe to say that this industry provides you with job security.
When you are unable to pay your bills, due to whatever financial problem you may be facing, the last people that you want to talk to is a collector. To be honest, collectors do get a bad reputation, for simply doing their jobs. However, if you want to work in an industry that is never going to let you go, and give you job security, then working as a collector is a great way to go.
The tasks that these individuals perform, sound simple enough, but there is more to it than meets the eye. From the outside looking in, collectors receive accounts, and then place phone calls on those accounts, in order to get in contact with the individual who owes money. When they do speak with the individual, they try to persuade them to pay the money that is owed.
Training will include going over the debt recovery laws that exist, as well as learning how to use proper negotiation skills to get individuals to pay debts that are owed. The laws that govern this industry are known as the FDCPA, or in other words, the Fair Debt Credit Protection Act. This act was passed in 1973, to protect the individuals that are being collected from.
The law was set into place to protect the people that the collector is calling, it does not do anything to protect the collector at all. There have been a lot of court cases performed, regarding this law, and individuals not abiding by it. If a collector neglects to follow the law, they can be fined for it.
Being a collector can be extremely stressful. You are doing the one thing that you hate people doing to you, your job is to speak with individuals and convince them to give you money to cover debts that are owed. In a lot of the cases, the people that you will be speaking with, do not have the assets available to pay. That is the main reason why they ended up in collections in the first place.
You will need to convince the individuals that owe money, that it is their obligation to pay the debts that they have. It is also your job, to give the individual other options that they can try to get the money that they need to pay you for the money that they have borrowed. The job can be stressful, and the average amount of time that an individual spends working in this type of environment, is usually six months or less.
If you have a tough skin and can manage to speak to people, in an attempt to attain their money, then you could be successful working in this type of industry. With the right credit and collections training, it is possible to make a lucrative income, working in this type of business. In fact, there are some top collectors that make six figures, from the work that they do. Another great thing about this business, is the fact that debt is never going to entirely disappear, therefore, it's safe to say that this industry provides you with job security.
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