Debt collectors usually earn between $44,000 and $55,000 a year.
Source : Hays, 'Hay's Salary Guide', 2015.
This information is a guide only. )
What you will do
Debt collectors may do some or all of the following :
contact people by phone or letter to inform them of unpaid accounts
advise people on how to pay overdue accounts
arrange for legal action to be taken on unpaid accounts
organise the repossession of goods to settle unpaid bills
keep records and prepare statements and legal documents.
Skills and knowledge
Debt collectors need to have :
knowledge of the relevant sections of the Sale of Goods Act, Hire Purchase Act, Privacy Act and Possession of Chattels Act
knowledge of District Court rules and procedures.
Debt collectors :
usually work regular business hours, but may do shift work that includes weekends and evenings
work in call centres, offices and in people's homes
work in stressful situations, as they often have to deal with angry people
may travel locally to collect money or goods.
Although there are no specific entry requirements to become a debt collector, contact centre employers prefer you to have a tertiary qualification such as the National Certificate in Contact Centre Operations (Level 3).
Debt collectors gain most skills on the job.
NCEA Level 2 is recommended for entering the National Certificate in Contact Centre Operations. Useful subjects include English, legal studies, maths and accounting.
Debt collectors need to be :
polite, tactful and honest
persuasive, persistent and firm when dealing with people
able to work well under pressure
able to keep calm when communicating with people who are angry or upset
able to relate well to people from a variety of backgrounds
good with numbers
good at written communications
organised and motivated
good at making decisions
confident using computers.
Useful experience for debt collectors includes :
work as a law clerk or clerk of courts
call centre work
customer service work
credit control work
work in a financial environment such as a bank or insurance company.
Repossession agents need to be physically fit and able to lift heavy objects.