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Loan Collector Jobs (NOW HIRING)

Credit Human

Home Loans Collector

New Orleans, LA · On-site +1

$23.78 - $24.76/hr

We are seeking a Home Loans Collector for the Home Loans Department in New Orleans, LA. This role manages delinquent mortgage accounts and supports loss mitigation, foreclosure processing, chargeoffs ...

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Loan Collector information

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$24

How much do loan collector jobs pay per hour?

As of Jul 27, 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.

How much do debt collectors make?

Debt collectors typically earn a median annual salary of around $40,000 to $50,000, with some earning higher based on experience, location, and commission or bonus structures. Entry-level collectors may start lower, while experienced professionals or those working in high-volume environments can earn more. Compensation often includes base pay plus incentives for successful collections.

What is the 7 7 7 rule for debt collectors?

The 7 7 7 rule for debt collectors refers to a guideline that limits the number of calls to a debtor to no more than seven times per week, seven times per month, and seven times per year. As a loan collector, adhering to such rules helps ensure compliance with the Fair Debt Collection Practices Act (FDCPA) and maintains respectful communication with borrowers.

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 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 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 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 is the work of a loan collector?

A loan collector is responsible for contacting borrowers to recover overdue payments on loans or credit accounts. They often communicate via phone, email, or mail, negotiate repayment plans, and maintain records of collection efforts. Strong communication skills and knowledge of debt collection laws are essential for this role.

Is it hard to become a debt collector?

Becoming a loan or debt collector typically requires a high school diploma or equivalent, strong communication skills, and sometimes a license or certification depending on the state. The job can involve challenging interactions with debtors and may require persistence and negotiation skills, but it generally does not require extensive formal education or training.
What cities are hiring for Loan Collector jobs? Cities with the most Loan Collector job openings:
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 July 2026, with employment types broken down into 3% Locum Tenens, 63% Full Time, 31% Part Time, 1% Temporary, and 2% Contract. Highlights an 89% Physical, 1% Hybrid, and 10% Remote job distribution, with an average salary of $36,200 per year, or $17.4 per hour.
Auto Loan Collector

Auto Loan Collector

EMPIRE FINANCIAL COMPANY

Kansas City, MO • On-site

$15 - $17/hr

Full-time

Posted 8 days ago

Job description

Job Description: We are seeking a motivated and detail-oriented Auto Loan Collector to join our team. The ideal candidate will be responsible for managing the collection of overdue auto loan accounts, communicating with customers, and ensuring compliance with all regulatory requirements.

Schedule:

  • You will be asked what day of the week you will like to have off between Tuesday, Wednesday and Thursday. You will have the day off that you decide and Sunday off. The following week you will alternate and work Monday to Friday with Saturday and Sunday off.

Key Responsibilities:

  • Contact customers to collect overdue payments via phone, email, and mail.
  • Negotiate payment plans and settlements with customers.
  • Maintain accurate records of customer interactions and payment agreements.
  • Work with the team to resolve disputes and ensure customer satisfaction.

Qualifications:

  • Previous experience in collections or customer service is preferred.
  • Strong communication and negotiation skills.
  • Ability to work independently and as part of a team.
  • Bilingual in Spanish is a plus.

Job Type: Full-time

Expected hours: 40 per week

Experience:

  • Customer service: 1 year (Required)

Language:

  • Spanish (Preferred)