A debt collector is a company or agency that is in the business of recovering money owed on delinquent accounts.
Below are steps to Become A Debt collector South Africa
Complete your high school diploma or an equivalent.
One of the largest industries is consumer debt collection. As a result, there are many positions, which require only a high school diploma or an equivalent.
If you don’t have a high school diploma, sign up to take the GED.
You can often earn your diploma in less than three months
Work in a call center or in customer service.
Though it’s not a mandatory requirement, most consumer debt collector positions, prefer candidates with call center or customer service experience.[2]
Customer service experience can be anything from working as a waiter or waitress, to being a barista at a local coffee shop. Regardless of your age, you can gain customer service experience by working at a minimum wage job.
If you’d like to gain call center experience, try doing a search online for “call center jobs.” Sites such as Careerbuilder.com and Monster.com are a good place to start. You’ll be able to find a wide range of jobs, where you can gain call center.
Create a resume.
Before applying for a consumer debt collector position, create a resume. The resume should include your contact information, education and related experience.[3]
Make sure your contact information is at the top of the page. This includes your name, address, telephone number and email address.
Include your education next. You should indicate the type of diploma you have, along with the institution where you received it. Indicate the date it was received as well.
What does it take to become a debt collector?
To be a debt collector, you should:
Have good verbal and written communication skills
Have an assertive but tactful approach
Be able to stay calm under pressure and work to strict deadlines
Have strong negotiation skills and the ability to explain financial matters firmly and clearly
What qualifications do you need to be a debt collector?
A high school diploma is required to work as a debt collector. Many people in the position of a debt collector have prior experience in telemarketing or negotiated sales positions. Individuals who work well in customer service and have experience with sales negotiations excel in the position of a debt collector.
How much do debt collectors charge in South Africa?
The Debt Collectors Act limits the fees a debt collector can charge to no more than the capital amount of debt or R814, depending on which is lower. Added to that, the debtor can be charged 10% on each instalment paid, although this, too, is capped at R407 per instalment.
Is debt collection legal in South Africa?
The National Debt Collection Act 114 of 1998 regulates the process of collecting debts in South Africa. If a debt collector charges for their services, they must be registered with the Debt Collectors Council. A debt collector is not allowed to: Use force or threaten to use force against you or your family.
How much does a debt collector make in South Africa ?
The average salary of a debt collector was R 196.96per hour or R 529043.63 annually in August . This salary could be higher in some positions, if the company offers bonuses and/or commissions on the accounts you’re able to collect on.
What happens if you have debt and leave South Africa?
If you move overseas and you decide to ignore your outstanding debt in South Africa, your creditor will take this as you defaulting on it and you will receive penalties for doing this. This could include debt collector fees, which can be hefty. You will also be charged interest on the entire lumpsum that’s outstanding.
What legal action can a debt collector take?
Creditors can usually seize and sell any property used as security for the loan or credit. This is unless you have repaid more than R142826.50or 25% of the amount of credit under the contract, in which case the creditor needs a court order to repossess the goods.
Is collections a stressful job?
Collections can be a stressful job. As a collection agent you’re dealing with intimate details of people’s businesses and their lives. You occasionally hear disturbing stories, and are faced with difficult decisions. Few people are happy to get a call from a collection agent and some are downright cruel or threatening.