Recovery Specialist Sr-Hybrid

The Recovery Specialist Sr. recovers charged-off consumer loan losses on behalf of Logix. Locates and contacts members whose accounts were previously charged-off and deemed uncollectable to attempt to make arrangements for repayment, including negotiating potential settlement agreements. Establishes and follows up on repayment schedules on accounts where applicable for debt repayment based on member financial situations, including negotiating potential lump sum settlement agreements. Evaluates charged- off consumer loan losses for potential assignment to outside counsel, repossession, collection agency, or post judgment recovery.

Contacts members of charged-off loans for the purpose of recovering charged-off dollars and mitigating losses.
• Establishes repayment schedules on accounts where applicable for debt repayment based on member financial situations, including negotiating potential lump sum settlement agreements.
• Utilizes credit reports and skip tracing tools when needed to locate customers and update account information, when applicable.
• Assesses charged-off consumer loan losses for collectability and evaluates accounts for potential assignment to outside counsel, repossession, or collection agency.
• Reviews and follows up on Impound and Lien Sale Notices on previously charged-off and unlocated collateral to determine whether value of vehicle exceed fees for recovery and assigns to repossession desk, if applicable.
• Utilizes Charged-off Member Collateral report to locate previously charged-off unlocated collateral and/or members.
• Assists with locating member employment information and assets for post judgment recovery.
• Assists the Manager in assigning accounts to collection agencies and/or external legal counsels; provides tracking reports to assist in monitoring recovery progress.
• Prepares, gathers and organizes post charge-off account file information in preparation for asset sales.
• Coordinates reporting to credit bureaus, Chex-Systems, and appropriate parties on account updates and settlement arrangements.
• Communicates and negotiates settlement and payment agreement within established guidelines; adhere to all pertinent federal and state regulations at all time.
• Assists in developing, implementing, and maintaining effective operational procedures to maximize efficiency and quality of work to provide consistent quality service to members.
• Coordinates, monitors, and maintains effective collection procedures.
• Assists with answering general collection questions from members and staff regarding loan payments and past due notices.
• Prepares forms, form letters, reports, and correspondence for collections purposes.
• Reviews requests for credit information and for corrections on credit files of members.
• Reviews accounts assigned to collectors where action beyond routine collection procedures must be approved.
• Works with peers and leadership from different functions and has an impact across the department.

Education

• Min/Preferred: Preferred
• Education Level: 4 Year / Bachelors Degree
• Description: Bachelors' degree preferred.

Experience

• Minimum Years of Experience: 6
• Preferred Years of Experience: 8
• Comments:
• 6-8 years of collections experience
• At least 1 year of repossession experience preferred

Disclaimer

Equal Opportunity Employer/Veterans/Disabled