Job Role:-
US Customer Service – 3rd Party Collection
Location:-
Work From Home
Salary:-
₹25K/month – ₹30K/month
Pan India Job
About the job
Salary up to 30k
REMOTE
NIGHT SHIFT
MINIMUM 1 YEAR IN THIRD PARTY COLLECTION
Immediate Joiner
Overview
The US Third Party Collections’ role is vital to maintaining the financial health of the organization. This position involves tracking down individuals or businesses who owe money to the company, ensuring compliance with relevant laws and regulations while working to recover outstanding debts. The collector works closely with clients to negotiate payment terms, resolve disputes, and recommend financial actions. By understanding the nuances of financial obligations and utilizing strong communication and negotiation skills, the collector fosters positive relationships with debtors, contributing to higher recovery rates and an overall reduction in delinquent accounts. Ultimately, the US Third Party Collections role not only supports the organization’s revenue goals but also plays a key role in maintaining its reputation in the marketplace. An effective collections strategy can enhance cash flow, improve customer relations, and promote financial accountability across the board.
Key Responsibilities
- Contact debtors via phone, email, or mail to collect payment on outstanding accounts.
- Negotiate payment arrangements and settlements with debtors to facilitate recovery.
- Review account information to understand the debtor’s history and current financial situation.
- Maintain accurate records of all interactions with debtors.
- Report on collections performance and account status regularly to management.
- Resolve disputes related to outstanding balances in a professional manner.
- Ensure compliance with federal and state debt collection laws and regulations.
- Advise management on potential policy changes to improve collections processes.
- Utilize various collections software and tools to track progress and document efforts.
- Collaborate with legal advisors if necessary for collections beyond standard practices.
- Follow up on payment promises to ensure adherence to agreed-upon schedules.
- Identify potential risk factors and recommend further actions if recovery attempts are unsuccessful.
- Educate debtors on their payment options to aid the collection process effectively.
- Conduct skip tracing for individuals who cannot be found or are unresponsive.
- Participate in training programs to stay current on collections techniques and regulations.
Required Qualifications
- A bachelor’s degree in finance, business, or a related field is preferred.
- 2+ years of experience in collections, credit, or accounts receivable.
- Strong understanding of debt recovery processes and regulations.
- Excellent verbal and written communication skills.
- Proficient in using collections software and Microsoft Office Suite.
- Strong negotiation skills to maximize payment recovery.
- Ability to analyze financial statements and reports.
- Proven track record of meeting and exceeding collections targets.
- Demonstrated ability to manage stressful conversations with empathy.
- Knowledge of Fair Debt Collection Practices Act (FDCPA) and related laws.
- Ability to work independently and as part of a team.
- Attention to detail and strong organizational skills.
- Problem-solving mindset with a focus on results.
- Experience in customer service or client relations is a plus.
- Ability to handle sensitive information with discretion.
Skills: Microsoft Office Suite, financial analysis, financial literacy, compliance with debt collection laws, empathy in conversations, communication skills, knowledge of fdcpa, organizational skills, client relations, negotiation, customer service, collections software, communication, third-party collections, debt recovery, analytical skills, collections, debt recovery processes, negotiation skills,problem-solving mindset, time management,problem-solving, analysis of financial statements