Recovery Specialist Sr.

Overview

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. Evaluates charged-off consumer loan losses for potential assignment to outside counsel, repossession, collection agency, or post judgment recovery.

Responsibilities

• 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.
• Assesses charged-off consumer loan losses for collectability and evaluates accounts for potential assignment to outside counsel, repossession, or collection agency.
• Assists the Manager in assigning accounts to collection agencies and/or external legal counsels.
• Coordinates reporting to credit bureaus, Chex-Systems, and appropriate parties on account updates and settlement arrangements.
• Communicates and negotiates settlement and payment agreements within established guidelines; adheres to all pertinent federal and state regulations.

Qualifications

• Bachelor's degree preferred.
• 6–8 years of collections experience; at least 1 year of repossession experience preferred.
• Knowledge of the legal aspects of collection, bankruptcy and repossession, and of the Fair Debt Collection Practices Act.