Loan Collector, Consumer Salary

For Consumer Loan Collectors, hourly average wages total $15.35 per hour. Female Consumer Loan Collectors make up most of the survey respondents at 70 percent. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. Job satisfaction is considered about average by most people in this profession. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.

$24,696 - $45,768

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$12.02 - $19.70

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$16K$32K$48K
Salary
$24,696 - $45,768  
   
Bonus
$0.00 - $8,970  
Profit Sharing
$290.00 - $2,396  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$25,850 - $45,411  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 47
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$10$20$30
Hourly Rate
$12.02 - $19.70  
   
Overtime
$16.23 - $28.00  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$20K$40K$60K
Bonus
$0.00 - $8,970  
   
Profit Sharing
$290.00 - $2,396  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$25,850 - $45,411  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 106
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Job Description for Loan Collector, Consumer

  • Maintains files and documentation, handles issues that may arise in the effort to recover money from loans.
  • Contacts customer in order to collect money on charged-off loans or existing delinquent loans.
  • Monitors the sale of collateral property to recover value of the loan.
  • Negotiates repayment plans, recommends accounts for legal action.

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Pay by Experience Level for Loan Collector, Consumer

Median of all compensation (including tips, bonus, and overtime) by years of experience.


The average inexperienced worker's salary is approximately $34K, and people with five to 10 years of experience bring in more at around $34K on average. People with 10 to 20 years of experience make an average of about $39K in this role. Consumer Loan Collectors who have stuck around for more than two decades see earnings that are no higher than those of folks who have worked for 10 to 20 years.

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Experience Affects Loan Collector, Consumer Salaries

Experienced
up arrow 13%

Late-Career
up arrow 13%

National Average
$35,000

Mid-Career
up arrow 1%

Entry-Level
up arrow 3%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 38 votes.

Gender

Female
70 %
Male
30 %

Years of Experience

1-4 years
32%
5-9 years
35%
10-19 years
22%
20 years or more
11%

Common Health Benefits

medical benefits Medical: 83% dental benefits Dental: 77%
vision benefits Vision: 59% employee benefits None: 14%
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