Debt collection is a highly competitive, multibillion-dollar industry in many parts of the world. The most common ways to obtain debt collection training are on-the-job training, online courses, and college or private classes. Obtaining the necessary credentials to land a job, on the other hand, usually necessitates obtaining nationally recognized certification. To provide proper debt collection training and certification, the International Association of Professional Debt Arbitrators (IAPDA) was founded.
Those with the right skills and education can make a lot of money in the debt collection business. Many countries, on the other hand, have laws in place to ensure that debt collection practices are fair and do not harass debtors. Debt collection training is required for agencies and individuals to learn and understand their legal obligations as well as how to protect debtors’ privacy. As collection laws change, additional training may be required.
In most areas, obtaining an entry-level position with a debt collection agency does not require certification. On-the-job training can then be provided for a set period of time, with certification obtained later if necessary to advance that person’s career. Because it provides real-world experience that can be added to an agent’s resume, hands-on training may be preferred over classroom training. Other options include debt collection training courses offered by local community colleges. Some collection agencies may also charge a fee for classes held in the evenings or on weekends.
Learning trades online has grown in popularity as a viable alternative to traditional campus-based programs. Students may benefit from distance learning in a variety of ways, particularly in areas where debt collection classes are not available locally. Several online schools and independent agencies typically offer debt collection training classes, with certificates of completion or even an associate’s degree. Many people prefer online learning because it allows them to fit training into their current work or personal schedules, as well as to continue their education as the industry evolves.
After successfully completing their training course, the International Association of Professional Debt Arbitrators awards certification. Prior training and education may assist an agent in completing the IAPDA course and obtaining certification more quickly. The course and certification process are designed to adhere to the strict Uniform Debt-Management Services Act, and some companies require it for higher-level collection positions. In some areas, this certification is also required before a person can start his own debt collection business.