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Loan Collector Jobs (NOW HIRING)

Community Trust Bank

Loan Collector

Pikeville, KY · On-site

Negotiate extensions and modifications of loans, and arranging payment schedules. * Review assigned accounts to determine if collection methods have been effective. Recommend to collections manager ...

Community Trust Bank

Loan Collector

Pikeville, KY · On-site

Negotiate extensions and modifications of loans, and arranging payment schedules. * Review assigned accounts to determine if collection methods have been effective. Recommend to collections manager ...

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Loan Collector information

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How much do loan collector jobs pay per hour?

As of Aug 30, 2026, the average hourly pay for loan collector in the United States is $17.40, according to ZipRecruiter salary data. Most workers in this role earn between $15.62 and $17.31 per hour, depending on experience, location, and employer.

What does a loan collector do?

A Loan Collector is responsible for contacting individuals or businesses with overdue loan payments and working to recover the owed funds. They communicate with borrowers via phone, email, or mail to arrange payment plans, provide information about outstanding debts, and help resolve financial issues. Loan Collectors may also negotiate settlements, keep detailed records of interactions, and follow legal guidelines regarding debt collection. Their main goal is to minimize losses for lenders while maintaining professionalism and compliance with regulations.

What are the key skills and qualifications needed to thrive as a loan collector, and why are they important?

To thrive as a Loan Collector, you need a solid understanding of debt collection practices, financial regulations, and basic accounting, often supported by a high school diploma or relevant experience. Familiarity with collection management software, customer relationship management (CRM) tools, and knowledge of Fair Debt Collection Practices Act (FDCPA) compliance are essential. Strong negotiation, communication, and problem-solving skills help build rapport and resolve delinquent accounts effectively. These abilities are crucial for maximizing recovery rates while maintaining compliance and customer relationships.

What are the most common challenges faced by loan collectors and how can they be addressed?

Loan Collectors often encounter challenges such as dealing with unresponsive or distressed borrowers, managing high call volumes, and meeting collection targets within tight deadlines. To address these challenges, effective communication skills, empathy, and persistence are essential. Many organizations provide training in negotiation and conflict resolution, along with robust support from supervisors and access to customer management tools. Building rapport with borrowers and working collaboratively with team members can also help improve recovery rates and job satisfaction.

What is the difference between Loan Collector vs Debt Collector?

AspectLoan CollectorDebt Collector
Required CredentialsHigh school diploma; some roles may require collections or finance certificationsHigh school diploma; often similar certifications or training
Work EnvironmentOffice setting, sometimes fieldwork for repossessionsPrimarily office-based, may involve field visits
Employer & Industry UsageBanks, credit unions, finance companiesDebt collection agencies, third-party firms
Common Search & ComparisonOften compared due to similar roles in debt recoveryRelated but broader, includes various types of debts

In summary, Loan Collectors focus on recovering loans for financial institutions, often working within banks or credit unions, while Debt Collectors handle a wider range of debts for collection agencies. Both roles require similar skills and certifications but differ in employer type and specific responsibilities.

What qualifications do you need to be a loan collector?

To become a loan collector, candidates typically need a high school diploma or equivalent. Strong communication, negotiation skills, and knowledge of debt collection laws are important; some employers prefer experience in customer service or finance. Certification is not usually required but can enhance job prospects.

What cities are hiring for Loan Collector jobs?

Cities with the most Loan Collector job openings:

Who are the top companies hiring for Loan Collector jobs?

The top employers for Loan Collector jobs are:

What states have the most Loan Collector jobs?

States with the most job openings for Loan Collector jobs include:

What are popular job titles related to Loan Collector jobs?

For Loan Collector jobs, the most frequently searched job titles are:

Loan Collector jobs near you
Infographic showing various Loan Collector job openings in the United States as of August 2026, with employment types broken down into 1% As Needed, 82% Full Time, 13% Part Time, and 4% Contract. Highlights an 96% Physical, 2% Hybrid, and 2% Remote job distribution, with an average salary of $36,200 per year, or $17.4 per hour.

Mortgage Loan Collector

Boise, ID • On-site

Idaho Housing and Finance Association
Finance and Insurance • 201 - 500 employees
Learn more about Idaho Housing and Finance Associationexternal

Other

Re-posted 18 days ago

Job description

Mortgage Loan Collector

We are seeking a dedicated and detail-oriented Mortgage Loan Collector to join our Loan Servicing team. We have opportunities to join our team as an Early Stage, Mid-Stage, or Late-Stage Loan Counselor, depending on experience. In any of these positions, you will be responsible for collecting payments from borrowers, responding to customer inquiries, and resolving delinquent accounts. You will use your excellent communication and interpersonal skills to negotiate payment arrangements and provide exceptional service.

Responsibilities:

  • Initiate outbound calls and receive inbound phone calls from borrowers, negotiating payment arrangements to avoid mortgage delinquency and maintain a high standard of quality during every call
  • Develop and implement customized payment plans to delinquency and prevent accounts from progressing to the next stage
  • Review borrowers for Home Retention Programs based on loan type, ensuring that they are matched with the most appropriate support and resources
  • Ensure compliance with regulatory requirements, including FDCPA, RESPA, and FCRA, while issuing demand letters and managing required timelines
  • Monitor assigned portfolio performance, maintain a downward trend in roll rates, and meet established department goals and standards
  • Other job duties as assigned

At our organization, we are dedicated to improving lives and strengthening Idaho communities. We believe that housing opportunities, self-sufficiency, and economic development are the pillars of progress. Join us and be part of a professional and mission-driven organization that makes a meaningful impact on the lives of Idahoans.

Requirements:

  • Strong verbal communication and interpersonal skills
  • Experience in a call center environment preferred
  • Bilingual in Spanish and English preferred
  • Ability to work independently and as part of a team
  • Experience in loan servicing, collection, or a related field preferred
  • Excellent problem-solving and analytical skills
  • Strong organizational and time management skills
  • High school diploma or equivalent required

Apply