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.

Searching Searching ...

Matching School Ads
5 Program(s) Found
  • Which career path will you take – Business, Nursing, Education, Psychology? Something else? GCU offers more than 100 majors to get you started!
  • Colangelo College of Business: Features more than 25 programs from the bachelor through the master's level, including several high-demand MBA programs and an accelerated accounting degree.
  • College of Nursing and Health Care Professions: Rich 25-year history providing outstanding health care and nursing degree programs, including an RN to BSN program & master's in nursing degrees.
  • College of Education: Whether you are looking to start or advance your career as a teacher or administrator, GCU offers bachelor’s and master’s in education degrees in key areas.
  • College of Humanities and Social Sciences: Provides a job focused education and features a variety of programs from counseling and psychology to justice studies, history and English literature.
  • Does something else interest you? GCU also offers programs in Doctoral Studies; Theology; Science, Engineering & Technology; and Fine Arts & Production. Speak with an enrollment counselor today!
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Kaplan University Online Degree Programs
  • Attend college on your terms. Kaplan University offers fully online degree programs that fit any schedule.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
2 Program(s) Found
  • Designated as a 2015 Military Friendly® School by Victory Media, publishers of G.I. Jobs®.
  • Each program is designed to instill the knowledge, ethical values, and interpersonal skills of professional practice and to foster values of social responsibility.
  • Offers several flexible learning options, including a blended format that combines campus and online learning.
  • Several scholarship opportunities are available for students who qualify.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits

Searching Searching ...

Matching School Ads
5 Program(s) Found
  • Do you have entrepreneurial visions to advance your career in the business world? Learn about the options available at GCU.
  • Earn a competitive bachelor's or master's degree in the areas of business administration, business analytics, accounting, marketing and more.
  • Many of our business degrees have attained elite accreditation from the Accreditation Council for Business Schools & Programs (ACBSP).
  • GCU nurtures the startup spirit, propelling your entrepreneurial visions on a powerful platform with opportunities to help you thrive.
  • Pursue a next-generation education with an online program or join Grand Canyon University's vibrant and growing campus community in beautiful Phoenix, Arizona.
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Kaplan University Online Degree Programs
  • Attend college on your terms. Kaplan University offers fully online degree programs that fit any schedule.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
2 Program(s) Found
  • Designated as a 2015 Military Friendly® School by Victory Media, publishers of G.I. Jobs®.
  • Each program is designed to instill the knowledge, ethical values, and interpersonal skills of professional practice and to foster values of social responsibility.
  • Offers several flexible learning options, including a blended format that combines campus and online learning.
  • Several scholarship opportunities are available for students who qualify.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits

Login to your account

Can't remember your Password ?

Register for this site!