Bill collection is an important process in banks, credit card companies, telecommunication service providing organizations, and many other organizations. However, some clients fail to pay their bills on time, while others do not pay at all. Subsequently, the company suffers losses in the long run and the progress is hampered. To avoid these situations, the organizations employ bill collectors who work towards recovery on the unpaid bills.
Although collecting payments is the primary task of a bill collector, there are many other activities that a bill collector performs on a regular working day. First of all, he is required to prepare a database of clients who have not paid the bill. He contacts these clients either through telephone, e-mail, or a personal visit to their office, residence, or any other venue.
A bill collector is required to explain the possible payment methods to the clients and other terms and conditions related to late payment. Sometimes, the bill collector has to visit clients at odd hours and in remote places in case they are not available at their residence or office. In case where clients refuse to make payments even after repeated reminders, the bill collector has to escalate the incident to the team leader or collection's manager to decide further course of action.
Sometimes, the clients may not be able to repay the whole amount. In this case, the bill collector is required to collect whatever payment they can make and inform the accounts department to close the account after adjusting the amount received.
The bill collector responsibilities have been elaborated below for further reference.
Review Unpaid Bills
A bill collector reviews the unpaid bills and calculates the total amount to be received. He prepares a database of the clients based on this information.
Contact Clients
The bill collector contacts the client to inform them about the unpaid amount and the various options to pay that amount. He may do so either by calling them or by sending an e-mail or letter. He is also required to explain the various charges added in the bill in case the client is unwilling to pay the whole amount.
Meet Clients
The bill collector is required to meet the clients who fail to make the payments despite repeated reminders. He may have to visit them at their office, residence, or any other venue.
Record Payments
The bill collector records the payments received from the clients and shares this report with the accounts department.
An excellent bill collector is a person who can:
The minimum educational qualification to become a bill collector is a high school diploma. Previous experience of working in a customer service or sales department will be beneficial, as it will help you to communicate with different types of clients. Organizations generally conduct training sessions for new recruits to make them aware of the company policies and processes.
While working as a bill collector, you can expect to earn an average salary of $35,000 annually. Apart from the basic salary, you can earn performance incentives, bonuses, and other allowances and benefits.
The work responsibilities of a bill collector make it easy for the organization to reduce losses that may occur as a deliberate or unknowing action of the clients.