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Commercial Debt Collector Jobs

Commercial debt collectors handle B2B, or business-to-business, accounts. You will find many commercial debt collection positions will require two or more years of experience in the field of debt collection, and may require a college level education.

A Bachelor's degree is a normal pre-requisite for commercial collection jobs. Business to business collectors often collect on credit accounts that are still being used by customers, or will be available for use once a specific past due amount is paid. Since the accounts belong to current clientele, excellent customer service skills are mandatory in this type of position. Commercial collections may also entail customer account reconciliation and the resolution of billing disputes. Therefore, desirable skills are in math and accounting.

Some companies combine the department that extends credit with the department that collects on past due accounts. In this situation, it is beneficial to learn what distinguishes good credit from bad credit and what constitutes a financial risk for the business. It is common for commercial collectors to have an earnings potential greater than a consumer collector. Commercial collectors may have commission structures as well. Because the Fair Debt Collections Practices Act and Fair Credit Reporting Act protect individual consumers, these laws do not govern commercial collections. However, there are various contract and business laws that are applicable. Some businesses will choose to implement the FDCPA, or parts of it, into their collection policies.