How to Become a Recovery Agent in Maryland
A debt recovery agent works as a collection agent with collection agencies or in the loss mitigation departments of various financial institutions. The agent helps in the recovery of late payments on credit cards, automobile loans and mortgages. There is no special license required to be a debt recovery agent in Maryland, but most employers require basic education and some customer service experience. However collection agencies need a special license to be able to operate in Maryland. See a link in Resources below on getting a collection agency license in Maryland.
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Instructions
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Have a high school diploma. Some collection agencies also require college education but most require that you have a high school diploma before you are hired.
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Get customer service experience. Before becoming a debt recovery agent it would help to get customer service experience at any job that allows you contact with the public. This is valuable experience that most collection agencies and banks look for before hiring potential candidates. If you need help finding a customer service job, see a link in Resources below for customer service jobs in the state of Maryland.
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Research debt recovery jobs and decide whether you want to work at collection agency or a bank. A collection agency is a good place to start and gain experience if you want to move on to becoming a loss mitigator with major banks. See a link in the Resources section below for collection agencies in Maryland.
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Apply for jobs. Be patient and systematic with your job search. According to the Bureau of Labor Statistics, the job outlook for bill and account collectors (another name for recovery agents) is good. The demand for these jobs is expected to rise between now and 2016.
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Begin your on the job training. If a bank or other financial institution hires you, you will be enrolled in a job training program that will familiarize you with the debt recovery process and applicable Maryland laws. Be conscientious and work your way up. You may one day become a supervisor or senior loss mitigator.
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