Collections

• Monitor payments for late and/or delinquency status
• Follow up on delinquent, high-balance, and overdue credit balance accounts by phone and/or correspondence
• Contact delinquent members by telephone and email to determine reasons for delinquency and assist with plans to bring accounts current
• Develop workout plans and collect overdue accounts
• Notify co-signers regarding delinquent account status
• Keep abreast of credit union collection policies, procedures, and applicable regulations
• Perform skip tracing on loan accounts
• Update files and system accounts in the delinquent loan recovery system
• Maintain accurate data for repossessions, bankruptcy files, charge-off lists, and related records
• Research payroll deductions and status-code delinquency accounts
• Correct title issues manually and in the system
• Process and monitor GAP and VSI claims
• Determine when to compromise and settle balances or initiate repossession proceedings
• Liaise with attorneys or agencies regarding collateral repossessions
• Prepare information for collection agencies and post agency receipts
• Maintain credit reporting disputes

Explore Collections Specialist at Liberty Bay Credit Union. Review requirements and application details.