Debt collector qualifications to consider:
- Education
- Years of debt collections experience
- Years with this collections agency
- Collection training received
- FDCPA for retail collections
- Script Reading for standardized collections
- Collection skills
- ACA or IACC certification
- Negotiation expertise (for larger claims)
- Other relevant experience
- Management experience
- Entrepreneurial history (relate to business owners)
- Clerical experience (attention to detail)
- Customer service (dealing with anger and emotions)
The debt collector pay structure can provide a clue to an agency’s philosophy:
- Base versus incentive
- Tilt towards incentive may also mean tilt towards fast and furious
- Potential for less success on more difficult claims
- Higher base can lead to greater persistence and appropriate patience for ultimate success
So now that we’ve looked at indicators of the collection agency success, we want to know – how fast do they collect.
Next: Speed in collecting money
How to Select a Collection Agency