how much collecting
Date: Mon, 10/18/2010 - 23:39
not sure what do you mean by 'you'. this site help members with
not sure what do you mean by 'you'. this site help members with free advice
Every collector at every agency will have a different goal based
Every collector at every agency will have a different goal based on inventory, client and how much that client is paying.
For example...I was a veteran collector. My goal was usually $250,000-$500,000 per month for student loans. A new collector coming in might only have a goal of $10,000.
My agency earned on average about 10% on fees on federal student loans so on a good month, I would earn my agency about $50,000. My commission minus my base salary on $500,000 would have been maybe $7500, so I would earn about 2% at that level. My record high commision was $16k for one month.
On our credit card side, the fees were higher but the paper was harder to collect. A veteran collector in credit cards might only have to collect $25,000 to earn a $2000 commision.
