Loan Collector, Consumer Salary
Earnings for Consumer Loan Collectors in the United States come in at around $16.04 per hour on average. Job satisfaction is high and work is enjoyable for most Consumer Loan Collectors. A fair number report receiving medical and dental coverage from their employers and a strong majority collect vision insurance. Female Consumer Loan Collectors make up most of the survey respondents at 70 percent. Participants in PayScale's salary questionnaire provided the particulars of this report.
Job Description for Loan Collector, Consumer
- Monitors the sale of collateral property to recover value of the loan.
- Negotiates repayment plans, recommends accounts for legal action.
- 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.
Loan Collector Job Listings
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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.
Consumer Loan Collectors with a lot of experience do not necessarily enjoy more money. Average salaries for inexperienced employees average out to around $33K, but folks who have five to 10 years of experience earn a higher median of $35K. Consumer Loan Collectors see a median salary of $40K after reaching one to two decades on the job. Individuals who report more than two decades of experience seem to make only slightly more than folks in the 10-to-20 year range; the more senior group sees median earnings in the comparatively modest ballpark of $42K.