Debt Collector Kaikohi Nama
Debt collectors help businesses and individuals collect money or goods from people with overdue debts.
Debt collectors may do some or all of the following:
- keep track of client accounts and contact them to find out why they haven't paid their debts
- work with clients to implement payment plans
- organise the repossession of items or legal action against clients to settle overdue debts.
Useful Experience
Useful experience for debt collectors includes:
- work as a legal clerk
- call centre work
- customer service work
- credit control work
- work in a bank or insurance company.
Personal Qualities
Debt collectors need to be:
- good communicators, including with people who are angry or upset
- good negotiators
- emotionally intelligent and able to relate different people
- confident, resilient and self-motivated
- able to work well under pressure
Skills
Debt collectors need to have knowledge of:
- the Credit Contracts and Consumer Finance Act
- relevant sections of the Consumer Guarantees Act and Privacy Act
- District Court rules and procedures.
Conditions
Debt collectors:
usually work regular business hours or do shift work that includes weekends and evenings- work in call centres and offices
- may travel locally or nationally to visit clients.
Subject Recommendations
No specific secondary education is required for this job, but economics, maths and accounting to at least NCEA Level 2 is useful.
Related Courses
Debt Collectors can earn around $48K-$65K per year.
Pay for debt collectors varies depending on skills and experience.
- Debt collectors usually earn between $48,000 and $65,000 a year
- Senior debt collectors who manage teams may earn more than this.
Source: Kelly Services, 'Kelly Services Salary Guide 2019', 2019; and careers.govt.nz research, 2020.
Debt collectors may move into team management roles or other finance industry roles.
Years Of Training
There are no specific requirements to become a debt collector. However, employers may prefer you to have contact centre experience or a New Zealand Certificate in Contact Centres (Level 3 or 4).
Debt collectors gain skills on the job and can also study for their certificate while working.