An insolvency administrator is a professional who works with consumers who cannot pay their debt. Also referred to as bill or debt collectors, these professionals attempt to collect payments or make settlement payment arrangements.
Educational requirements include a high school diploma or GED. Excellent communication skills are necessary because this professional speaks with consumers daily and some may be in stressful financial situations.
On-the-job training is offered by the employer in customer service, company procedures and laws related to debt collection in each state.
Attempting to collect debt from consumers includes contacting consumers and making payment arrangements, taking payments over the phone and sending related correspondence electronically or through the mail. This occupation also find consumers who have moved or changed phone numbers to attempt to collect the debt.
The Bureau of Labor Statistics expects 19 per cent growth for these occupations between 2008 and 2018. Growth is expected in industries such as health care and financial services due to rising prices in these industries, and consumers being unable to pay related debts.
The Bureau of Labor Statistics also lists a national average salary of £9.50 per hours in 2008 for this occupation.