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Repossession In Jobs in Illinois (NOW HIRING)

... in making timely payments. Directs use of proven collection practices, including skip tracing, revocation of credit lines, and liquidation of security when required. Initiates repossession process ...

... in making timely payments. Directs use of proven collection practices, including skip tracing, revocation of credit lines, and liquidation of security when required. Initiates repossession process ...

Participate in the development, execution, and monitoring of workout strategies designed to improve ... Coordinate with internal and external legal counsel on foreclosure, replevin, repossession ...

Recovery Specialist I

Canton, IL · On-site

$19.24 - $30/hr

... with repossession, legal, and recovery processes as assigned * Monitoring assigned accounts and escalating issues as appropriate * Maintaining confidentiality and exercising sound judgment in ...

Recovery Specialist I

Canton, IL · On-site

$19.24 - $30/hr

... with repossession, legal, and recovery processes as assigned * Monitoring assigned accounts and escalating issues as appropriate * Maintaining confidentiality and exercising sound judgment in ...

Recovery Specialist I

Macomb, IL · On-site

$19.24 - $30/hr

... with repossession, legal, and recovery processes as assigned * Monitoring assigned accounts and escalating issues as appropriate * Maintaining confidentiality and exercising sound judgment in ...

Use collection software/system and accurately document accounts in a clear, concise manner * Provide recommendations for effective charge-off and repossession using supporting evidence * Achieve ...

Recovery Specialist I

Henry, IL · On-site

$19.24 - $30/hr

... with repossession, legal, and recovery processes as assigned * Monitoring assigned accounts and escalating issues as appropriate * Maintaining confidentiality and exercising sound judgment in ...

Collections Officer

Moline, IL · On-site

$21.28 - $29.80/hr

Use collection software/system and accurately document accounts in a clear, concise manner * Provide recommendations for effective charge-off and repossession using supporting evidence * Achieve ...

Recovery Specialist I

Macomb, IL · On-site

$19.24 - $30/hr

... with repossession, legal, and recovery processes as assigned * Monitoring assigned accounts and escalating issues as appropriate * Maintaining confidentiality and exercising sound judgment in ...

Recovery Specialist I

Henry, IL · On-site

$19.24 - $30/hr

... with repossession, legal, and recovery processes as assigned * Monitoring assigned accounts and escalating issues as appropriate * Maintaining confidentiality and exercising sound judgment in ...

Collections Officer

Moline, IL · On-site

$21.28 - $29.80/hr

Use collection software/system and accurately document accounts in a clear, concise manner * Provide recommendations for effective charge-off and repossession using supporting evidence * Achieve ...

Let us help you develop the skills you need for a successful career in the credit union industry ... repossession and charge off recommendations. Assist Member Solutions management team with ...

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Showing results 1-20

Repossession In information

How badly does a repossession affect you?

A repossession can negatively impact your credit score, making it more difficult to obtain loans or credit in the future. It may also lead to additional financial obligations and can stay on your credit report for up to seven years, affecting your ability to secure housing or employment that requires credit checks. Repossession specialists often review credit reports and financial history as part of their job responsibilities.

What is the 3 month rule for jobs?

The 3 month rule in repossession jobs typically refers to a probation or trial period lasting three months, during which an employee's performance and suitability are evaluated before permanent employment is confirmed. This period allows employers to assess skills such as attention to detail and decision-making in the field of asset recovery. It is common for job roles in repossession to include training and supervision during this initial phase.

How do repo workers get paid?

Repossession workers are typically paid either hourly wages or a flat fee per successful recovery. Some may also receive commissions or bonuses based on the number of vehicles recovered, and payment structures can vary depending on the employer or contract terms. They often work in environments requiring knowledge of legal procedures and safety protocols.

What is the law on repossession?

Repossession professionals must follow laws that regulate the process, including providing proper notice to the borrower and conducting the repossession without breaching peace. Laws vary by jurisdiction but generally require adherence to specific procedures to ensure the repossession is lawful and enforceable. Understanding local regulations and maintaining proper documentation are essential for repossession agents to operate legally.

What is the difference between Repossession In vs Repossession Agent?

AspectRepossession InRepossession Agent
Primary RoleManaging the process of repossessing assets after initial collection effortsLocating, recovering, and returning assets from defaulted borrowers
CredentialsOften requires knowledge of legal procedures and sometimes licensingRequires knowledge of repossession laws, sometimes licensing or certification
Work EnvironmentOffice-based with field visits for legal or administrative tasksPrimarily fieldwork, visiting locations to recover assets
Industry UsageUsed in finance, leasing, and loan recovery sectorsCommonly used in auto, equipment, and property repossession sectors

In summary, Repossession In focuses on managing the legal and administrative aspects of repossession, often involving legal procedures, while Repossession Agent is more hands-on, physically locating and recovering assets. Both roles are essential in the repossession process but differ in responsibilities and work environment.

What cities in Illinois are hiring for Repossession In jobs? Cities in Illinois with the most Repossession In job openings:
Installment Loan Collection Representative

Installment Loan Collection Representative

CEFCU

Peoria, IL • On-site

$20.20 - $23.75/hr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 17 days ago


CEFCU rating

9.1

Company rating: 9.1 out of 10

Based on 9 frontline employees who took The Breakroom Quiz


Job description

Are you ready to make the most of your talents and abilities, while helping others make the most of their finances?
Apply to join Team CEFCU!

CEFCU member service team members are critical to the success of the credit union. They provide a professional, knowledgeable, and caring experience when members contact us. We are looking for individuals who are personable, articulate, and positive to add to our already awesome team!

Contacts members to arrange payments on delinquent installment loans and MasterCard accounts to mitigate loan losses for CEFCU. Coordinates with other departments to set up convenience services, such as automatic payments, payroll deductions, and Automated Clearing House (ACH) origination to assist members in making timely payments. Directs use of proven collection practices, including skip tracing, revocation of credit lines, and liquidation of security when required. Initiates repossession process with third party repossession company. Uses professional techniques to limit losses on delinquent loans. Uses creative payment arrangements or modifications to help members in need when appropriate.
Provides the highest quality member experience, for both internal and external members.
Hours:
Monday - Thursday 8:30 a.m. - 5:00 p.m.
Friday 9:30 a.m. - 6:00 p.m.
Saturday 8:00 a.m. - 2:00 p.m.
*Flexibility in scheduling is required. Saturdays are required with a day of throughout the week

Required:
High school diploma or equivalent.

0-2 years collection experience.
Thorough understanding of loan process.
Ability to understand and navigate through CEFCU mainframe systems and screens: Automated Loan Processing System (ALPS), Member Account File (MIF), and Collection Screen (COL).
Proven ability to resolve conflict, think critically, and respond appropriately to members in heightened emotional state.
Ability to communicate with tact and professionalism.
Preferred:
Experience/familiarity with MasterCard screens.
Knowledge of collection law and procedures or Fair Debt Collection Practices Act.
Familiarity with CEFCU's Loan and Collection policies.
Interviewing and probing/interrogation skills.
Applicable college courses and/or commensurate credit and collection experience.
Working knowledge of Temenos Collection System

Summary Pay Range

The anticipated starting pay range for this position is $20.20 - $23.75.

The pay range listed represents the anticipated starting range for a successful candidate. Final compensation will be based on factors such as experience, skills, and qualifications.

Please note that salary is only one component of total compensation at CEFCU.

Benefits

Financial

Merit-based raises

Health and Welfare

Generous paid time off (Holiday, Personal or Sick Time, Vacation)

Comprehensive Medical, Dental, and Vision coverage (PPO, HDHP)
Flexible Spending Plan (Medical Reimbursement Account and Dependent Care Reimbursement Account)

Health Savings Account

Voluntary Benefits (Accident Plan, Critical Illness Plan, Hospital Indemnity Plan, Identity Theft & Fraud Protection Plan, Legal Plan)

Life Insurance

Accidental Death & Dismemberment Insurance

Disability Benefits

Defined Benefit Plan - Pension

Defined Contribution Plan - 401K

Additional Benefits

Employee Assistance Program

Tuition reimbursement

Career growth through internal job postings

Management Development Program: formal mentoring and training

Opportunities to help improve and build the CEFCU of tomorrow through process teams

Opportunities to personally contribute to corporate financial literacy and community initiatives

Casual days to support local charities

Employee discounts on entertainment, cell phone plans, theme park tickets, and more

On-site fitness center, fitness classes, and wellness program

It is CEFCU's policy and intent to provide equal opportunity to all persons without regard to race, color, religion, political affiliation, sex/gender (including gender expression/identity, pregnancy, childbirth and related medical conditions), marital status, registered domestic partner status, sexual orientation, age, ancestry, national origin, veteran status, disability, medical condition, genetic characteristics, and/or any other basis protected by law. This policy covers all facets of employment including, but not limited to: recruitment, selection, placement, promotions, transfers, demotions, terminations, training, and compensation.