Education Career Articles

Connect Facebook Connect Twitter Connect Google+ Connect Pinterest Connect Stumbleupon

Consumer Loan Collector Job Description

Job Descriptions November 29, 2013

A consumer loan collector is a responsible job that all banks need to make sure they hire someone highly qualified for. According to the Consumer Loan Collector Job Description, these collection employees are responsible for contacting customers that are delinquent in the repayment of their loans and also to obtain these said payments.

They are responsible for establishing these payments and following set policies and procedures when doing so. You have to have knowledge in these concepts on a daily basis for everyday use and also be able to perform them perfectly in every facet of the job. Salary.com reports a median salary of about $28k for a consumer loan collector. This is only an entry level position of the banking, accounting, and finance industry which explains the median salary being on the lower end of the financial field. However, there is plenty of room for growth and plenty of room for improvement.

A Consumer Loan Collector Job Description explains how this job is mainly about contacting people and keeping in contact with customers that are not able to make payments. It is not just collecting on debts but also working with these individuals to find the resolution that is beneficial to both parties. There is a side to this profession that many people may not like, though. You will have to sell the collateral, most often a car or home, in order to settle the debt. This can be very stressful and very demanding, mentally and emotionally, for the loan collector.

The U.S. Department of Labor Statistics lists this job as a job with amazing outlook. According to the Consumer Loan Collector Job Description, it is estimated to grow about average pace and shows no signs of decreasing any time soon. Banks will always need loan collectors as people always need loans. But it is your job to collect on these loans in every way possible when they fall through.

It is a business model that has worked for many years and will continue to work for plenty of years to come. It is up to the loan officer to issue the loans and assess whether the loan is a good one to make. All of these decisions start somewhere, and they usually end with you, the consumer loan collector. You are the last line of defense when it comes to collect on a debt, and you have to make sure you are able to efficiently and strategically obtain any funds that may be lost.

Showing schools in your area

Matching School Ads
5 Program(s) Found
  • Boldly pursue your future in business with an online degree from Post University
  • Degrees at all levels with concentrations in Finance, Marketing, and much more
  • Ranked in the Best Online Bachelors Programs for Veterans by US News & World Report
  • Ranked in the Best Online Bachelor’s Programs by the US News & World Report
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
2 Program(s) Found
  • Online Bachelor's programs include BBA, Criminal Justice, Psychology, IT, Healthcare Management & Public Health
  • Over 115 years of delivering quality education and personalized attention to students
  • Provide a range of campus experiences and services online including advising, tutoring, student community, and career services
  • Give students and alumni access to career assistants who help with resumes, cover letters, job hunting, and more.
  • We're now Non-Profit.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
1 Program(s) Found
  • Our online program blends modern business theory with real-world applications
  • SACS accredited with associate's, baccalaureate, & master's degrees & diplomas
  • US News & World Report ranks Online Bachelor’s Programs among top 10%
  • Ranked one of the best for vets business schools by Military Times
  • Qualifying students can take faith in EPCI’s unwavering Fixed Tuition Pledge
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
  • Find Online Schools. 100% Online Accredited Courses
  • Get Matched to Programs In A Few Clicks!
  • Earn an Affordable Degree from Home at your own pace
  • Get College info today. Its Free and Easy!
  • Online Courses
  • eLearners.com Helps You Find the Right College within Minutes. 100% Free Match to Top Colleges.
  • Get Matched to the Perfect Business Degree Programs from Top Colleges Here.
  • Learn at Your Own Pace and Get Qualified to Pursue a Career You'll Love.
  • Answer a few questions and you are one step closer to enroll in a Top College!
  • Online Courses

Showing schools in your area

Matching School Ads
5 Program(s) Found
  • Boldly pursue your future in business with an online degree from Post University
  • Degrees at all levels with concentrations in Finance, Marketing, and much more
  • Ranked in the Best Online Bachelors Programs for Veterans by US News & World Report
  • Ranked in the Best Online Bachelor’s Programs by the US News & World Report
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
2 Program(s) Found
  • Earn your Bachelor of Business Administration (BBA) 100% online
  • Learn business and leadership skills through case studies and intensive projects, culminating in a capstone course
  • Program designed to teach students key concepts in accounting, financial services, and marketing
  • South University brings over 115 years of achievement and tradition to a supportive, online classroom
  • We're now Non-Profit.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
1 Program(s) Found
  • Our online program blends modern business theory with real-world applications
  • SACS accredited with associate's, baccalaureate, & master's degrees & diplomas
  • US News & World Report ranks Online Bachelor’s Programs among top 10%
  • Ranked one of the best for vets business schools by Military Times
  • Qualifying students can take faith in EPCI’s unwavering Fixed Tuition Pledge
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
  • Find Online Schools. 100% Online Accredited Courses
  • Get Matched to Programs In A Few Clicks!
  • Earn an Affordable Degree from Home at your own pace
  • Get College info today. Its Free and Easy!
  • Online Courses
  • Looking for an Online Business Degree Program That May Improve Your Career Options?
  • EarnMyDegree.com Can Help You Match Your Educational Goals With Your Desired Career.
  • Whether You Are Looking to Earn a Degree Online, or Study at a Nearby Campus, This Is The Place to Connect With a College That May Be Ideal for You.
  • Browse Through Our List Of Online Colleges and Traditional Schools to Determine Potential Places to Earn a Degree NOW!
  • Online Courses

Login to your account

Can't remember your Password ?

Register for this site!