A Debt Recovery Specialist (also known as a Debt Recovery Agent or Collections Specialist) is responsible for recovering outstanding debts owed to a company or organization. Their primary goal is to maintain the financial health of the organization by ensuring timely repayment of debts, while also preserving positive relationships with clients and adhering to legal regulations. Key Responsibilities Contact debtors via phone, email, or mail to discuss overdue accounts and negotiate repayment plans. Negotiate and establish repayment arrangements within company guidelines and legal requirements. Maintain accurate records of all collection activities, communications, and payment progress. Monitor and follow up on payment commitments to ensure adherence to agreed schedules. Resolve disputes and discrepancies related to outstanding debts. Collaborate with legal and finance teams to escalate unresolved cases when necessary. Prepare regular reports on collection status and performance metrics. Ensure compliance with relevant debt collection laws and regulations. Required Skills and Qualifications Strong communication and negotiation skills to interact effectively with debtors and internal teams. Attention to detail for accurate record-keeping and compliance. Problem-solving abilities to handle disputes and find solutions. Knowledge of debt collection laws and regulations. Experience with collection software, CRM systems, and Microsoft Office. Ability to work under pressure and handle difficult conversations professionally. High school diploma or equivalent; a degree in finance or business is often preferred. Summary Table Responsibility Key Activities Debtor Contact Phone, email, mail outreach Repayment Negotiation Set up and monitor payment plans Record Keeping Maintain accurate documentation Dispute Resolution Investigate and resolve discrepancies Legal Compliance Follow relevant laws and regulations Reporting Prepare regular updates on recovery progress Collaboration Work with legal, finance, and management teams