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Collection Agency Jobs in Chicago, IL (NOW HIRING)

IMI Agency

Project Manager, Hospitality

Chicago, IL · Hybrid

$65K/yr

IMI Agency Project Manager Beer, Wine amp; Spirits Chicagoland Area Status: Full Time | Hybrid ... collection. * Assist in planning small and large-scale meetings and conferences, including ...

Busey

Special Assets Officer

Glenview, IL

$103K - $134K/yr

Responsibilities include developing collection strategies, action plans, negotiating, and ... Regulatory agencies, third party loan review, and internal/external auditors * Legal/regulatory ...

Busey-Bank-2

Special Assets Officer

Glenview, IL · On-site

$103 - $134/hr

Responsibilities include developing collection strategies, action plans, negotiating, and ... agencies, third party loan review, and internal/external auditorsLegal/regulatory requirements ...

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All JobsCollection Agency JobsCollection Agency Jobs in Chicago, IL

Collection Agency information

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How much do collection agency jobs pay per hour?

As of Sep 4, 2026, the average hourly pay for collection agency in Chicago, IL is $20.64, according to ZipRecruiter salary data. Most workers in this role earn between $16.59 and $23.75 per hour, depending on experience, location, and employer.

What is a collection agency?

A collection agency is a company hired by lenders or creditors to recover funds that are past due or in default. These agencies contact debtors by phone, mail, or email to request payment and may negotiate payment plans or settlements. If unsuccessful, they can report the delinquent debt to credit bureaus, potentially affecting the debtor's credit score. Collection agencies must follow laws such as the Fair Debt Collection Practices Act (FDCPA) to ensure ethical and legal practices.

What are the key skills and qualifications needed to thrive as a collection agent?

To thrive as a Collection Agent, you need strong negotiation skills, knowledge of debt collection laws, and typically a high school diploma or relevant experience. Familiarity with collection management software, CRM systems, and sometimes certification from organizations like the ACA International are valuable. Excellent communication, resilience, and problem-solving abilities help build rapport and handle challenging conversations effectively. These skills are crucial for maximizing debt recovery while maintaining compliance and positive client relationships.

What are some common challenges faced by professionals working in a collection agency, and how can they be addressed?

Professionals in a collection agency often encounter challenges such as handling difficult conversations with customers, meeting collection targets, and managing high volumes of accounts. Building strong communication and negotiation skills is essential for addressing customer concerns empathetically while remaining firm on payment expectations. Many agencies provide ongoing training, team support, and access to technology that streamlines account management, helping employees overcome these challenges and succeed in their roles.

What is the difference between Collection Agency vs Debt Collector?

AspectCollection AgencyDebt Collector
CredentialsVaries; often no specific license, but some states require licensingOften licensed or registered, depending on state laws
Work EnvironmentOffice-based, handling multiple accounts for various clientsField or office-based, focusing on individual debt accounts
Employer & Industry UsageHired by creditors or debt buyers to recover debtsTypically employed by collection agencies or working independently
Search & Comparison IntentYes, often compared for services and reputationYes, often compared for debt recovery practices

In summary, a collection agency is a company that manages debt recovery for multiple clients, often working with various accounts and industries. A debt collector is an individual who works either for a collection agency or independently to recover specific debts. While both roles focus on debt collection, agencies operate as organizations, whereas debt collectors are individuals involved in the process.

What cities near Chicago, IL are hiring for Collection Agency jobs?

Cities near Chicago, IL with the most Collection Agency job openings:

Collection Agency jobs near you
Infographic showing various Collection Agency job openings in Chicago, IL as of August 2026, with employment types broken down into 1% As Needed, 71% Full Time, 13% Part Time, 14% Contract, and 1% Nights. Highlights an 88% Physical, 3% Hybrid, and 9% Remote job distribution, with an average salary of $42,988 per year, or $20.7 per hour.

Loan Agency Services, Sr. Associate (Private Credit) - Nick Keelan

Alter Domus

Chicago, IL • On-site

$60 - $105/hr

Other

Posted 15 days ago

Job description

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Loan Agency Services, Sr. Associate (Private Credit) - Nick Keelan

Location: Chicago, US


ABOUT US:


As a world leading provider of integrated solutions for the alternative investment industry, Alter Domus (meaning “The Other House” in Latin) is proud to be home to 90% of the top 30 asset managers in the private markets, and more than 6,000 professionals across 24 jurisdictions.


With a deep understanding of what it takes to succeed in alternatives, we believe in being different - in what we do, in how we work and most importantly in how we enable and develop our people. Invest yourself in the alternative, and join an organization where you progress on merit, where you can speak openly with whoever you are speaking to, and where you will be supported along whichever path you choose to take.


Find out more about life at Alter Domus at careers.alterdomus.com


JOB DESCRIPTION:



  • Act as a primary owner of assigned deals.

  • Work with Loan Agency support staff to manage and communicate deal information to the borrower and lending group.

  • Review and negotiate administrative issues within credit agreements.

  • Oversee the maintenance of the agency system to reflect attributes of each credit agreement and related governing documents.

  • Oversee the calculation, invoicing, and disbursement of all deal-related fees; Assume responsibility for the coordination of funds movement related to initial funding and closing, managing closings for lenders, transferring positions by assignment, and working closely with the borrower and lending group.

  • Oversee ongoing maintenance of facility commitments and processing of loan/facility-related activity, including rollovers, rate settings, conversions, prepayments, assignments, amendments, waivers, et cetera0

  • Oversee accurate and timely collection and disbursement of interest/principal/fee payments to lenders.

  • Ensure collection of new borrowings from lenders and disbursement to borrower.

  • Act as senior liaison between borrowers and lenders, ensuring compliance with the terms of the credit agreement and other governing documents.

  • Maintain expert knowledge of all relevant portfolios and deal-related documentation.

  • Train and coach support staff on the life cycle of a loan, deal documentation, industry standards, and professional communication and execution of client workflow deliverables.

  • Exhibit an elevated level of professionalism and a client-focused approach that is responsive, proactive, accountable, and reliable, adjusting communication appropriately for various levels and parties.

  • Work in a dynamic team environment and participate in strategic initiatives, identifying and implementing best practices and operational efficiencies.

  • Use judgment, interpretation, and problem-solving skills to understand loan information to successfully resolve exceptions.


QUALIFICATIONS:



  • Bachelor’s degree in finance, accounting, business, or economics (or commensurate work experience).

  • 3+ years of investment management operations experience or bank loan agency/syndication experience.

  • Ability to quickly learn new concepts and independently research and resolve issues.

  • Ability to collaborate with internal groups and external clients.

  • Ability to excel in a deadline-driven environment.

  • Excellent organizational skills with exceptional attention to detail and follow-through.

  • Demonstrated analytic skills, strong working knowledge of fundamental financial/accounting/business concepts, and a proactive interest in learning and mastering new concepts.

  • Strong Microsoft Excel skills and experience.

  • Knowledge or familiarity with Bloomberg, performance systems, and other loan research and analysis tools.


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Salary range depending on experience: $60,000-105,000


WHAT WE OFFER


We are committed to supporting your development, advancing your career, and providing benefits that matter to you.


Our industry-leading Alter Domus Academy offers six learning zones for every stage of your career, with resources tailored to your ambitions and resources from LinkedIn Learning.


Our global benefits also include:



  • Support for professional accreditations such as ACCA and study leave

  • Flexible arrangements, generous holidays, plus an additional day off for your birthday!

  • Continuous mentoring along your career progression

  • Active sports, events and social committees across our offices

  • 24/7 support available from our Employee Assistance Program

  • The opportunity to invest in our growth and success through our Employee Share Plan


Alter Domus is an Equal Opportunity Employer: Equity Statement
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, or protected veteran status.

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