The average rate for a Loan Collector is $14.83 per hour. Most people with this job move on to other positions after 20 years in this field. Pay for this job does not change much by experience, with the most experienced earning only a bit more than the least.

$24,328 - $40,828
(Median)
$24K
$33K
$41K
MEDIAN: $33,412
10%
50%
90%

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$11.76 - $18.47
(Median)
$12
$15
$18
MEDIAN: $14.00
10%
50%
90%

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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$15K$30K$45K
Salary
$24,328 - $40,828  
   
Bonus
$783 - $15,456  
Commission
$6,180  
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).
)
$24,867 - $44,614  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 11
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$9$18$27
Hourly Rate
$11.76 - $18.47  
   
Overtime
$21.00  
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$18K$36K$54K
Bonus
$783 - $15,456  
   
Commission
$6,180  
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).
)
$24,867 - $44,614  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 54
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Job Description for Loan Collector

  • 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.

Loan Collector Job Listings

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Pay by Experience Level for Loan Collector

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

Related Job Salaries

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Experience Affects Loan Collector Salaries

Late-Career
up arrow 16%

Experienced
up arrow 14%

Mid-Career
up arrow 4%

National Average
$32,000

Entry-Level
up arrow 4%

Skills That Affect Loan Collector Salaries

National Average
$32,000

Collections
up arrow 1%

bill collections
up arrow 1%

Customer Service
up arrow 15%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 10 votes.

Gender

Female
67 %
Male
33 %

Years of Experience

Less than 1 year
6%
1-4 years
40%
5-9 years
22%
10-19 years
25%
20 years or more
8%

Common Health Benefits

medical benefits
Medical: 77%
dental benefits
Dental: 71%
medical benefits
Vision: 58%
dental benefits
None: 19%
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