We are independent & ad-supported. We may earn a commission for purchases made through our links.
Advertiser Disclosure
Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.
How We Make Money
We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently of our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.

What are the Different Debt Collector Jobs?

By Christy Bieber
Updated Mar 02, 2024
Our promise to you
Practical Adult Insights is dedicated to creating trustworthy, high-quality content that always prioritizes transparency, integrity, and inclusivity above all else. Our ensure that our content creation and review process includes rigorous fact-checking, evidence-based, and continual updates to ensure accuracy and reliability.

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

Editorial Standards

At Practical Adult Insights, we are committed to creating content that you can trust. Our editorial process is designed to ensure that every piece of content we publish is accurate, reliable, and informative.

Our team of experienced writers and editors follows a strict set of guidelines to ensure the highest quality content. We conduct thorough research, fact-check all information, and rely on credible sources to back up our claims. Our content is reviewed by subject-matter experts to ensure accuracy and clarity.

We believe in transparency and maintain editorial independence from our advertisers. Our team does not receive direct compensation from advertisers, allowing us to create unbiased content that prioritizes your interests.

Debt collector jobs can be in a number of different industries, but generally fall into several broad categories. Debt collector jobs can be found in in-house collection agencies or in collection houses that debts are sold to after the in-house creditors fail to collect the unpaid balance of debts. Often, those who work in the field of debt collecting work partially on a commission basis, receiving a relatively low base salary with the opportunity to earn a percentage of any debts collected.

The function of a debt collector is to contact individuals who are behind in their bills and attempt to obtain payments from those debtors. Thus, debt collectors can work in any industry in which a person may owe money. Commonly, debt collectors work for credit card companies, student loan companies, car loan or financing companies, mortgage companies and banks. Debt collector jobs may also exist in other fields in which a person assumes a legal responsibility to pay; for example, a debt collector could work for a cellular telephone company and attempt to collect unpaid monthly bills from consumers. It is also very common for debt collectors to collect unpaid medical bills.

Some debt collector jobs are in house, which means the debt collector works for the original lender. For example, if Citibank issues a credit card and someone defaults, Citibank will utilize an in-house collector first to try to collect the debt. The in-house collectors are all employees of Citibank and collect debts only for that company.

Other collectors work for debt collections companies whose only purpose is to collect unpaid debts. These external collections agencies do not actually lend money to consumers themselves. Instead, they buy debt for pennies on the dollar from other creditors who have proven unable to collect the debt. If they are able to collect even a small amount of the unpaid balance, they often make a profit since they paid so little to purchase the debt in the first place.

Debt collectors can use a number of tactics, including guilt or repeated telephone calls, to attempt to collect the unpaid balance of debts. The debt collectors, however, must comply with laws such as the Fair Debt Collection Practices Act, which prohibit them from making overt threats or harassing a debtor. The more persuasive a debt collector is at getting individuals to send in debt payments, the more lucrative the debt collector jobs can be.

Practical Adult Insights is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.
Discussion Comments
Practical Adult Insights, in your inbox

Our latest articles, guides, and more, delivered daily.

Practical Adult Insights, in your inbox

Our latest articles, guides, and more, delivered daily.