Commercial Loan Collection Officer

Coordinate activities to collect delinquent commercial loans.
picture of Commercial Loan Collection Officer

Quick Stats

Salary Range
$31,000 – $112,000

Data from U.S. Department of Labor

What do Commercial Loan Collection Officers do?

Coordinates activities to collect delinquent commercial loans: Reviews files of commercial loans in default to determine collateral held by bank. Writes letter to customer to demand payment of loan balance. Calls or visits customer to determine if repayment plan can be established. Computes repayment schedule, using calculator. Determines if status of customer’s financial position prevents repayment of loan and justifies re-classifying loan as non-revenue producing. Initiates collateral liquidation when customer does not repay loan. Petitions court to transfer title and deeds of collateral to bank. Coordinates maintenance and repairs to property. Coordinates activities to maintain income flow related to seized assets, such as notifying renters to mail payments to financial institution. Calls real estate broker to initiate sale of real estate. Calls auctioneer or liquidation specialist to sell specified property, such as machines, equipment, and inventory at public auction. Specifies changes to bank records on value of loan. May testify at legal proceedings.

Should I be a Commercial Loan Collection Officer?

You should have a bachelor's degree or higher and share these traits:
  • Calm Under Pressure: You keep your cool when dealing with highly stressful situations.
  • High Achiever: You love the challenge of tackling difficult work.
  • Detail Oriented: You pay close attention to all the little details.

  • How to Become a
    Commercial Loan Collection Officer

    Commercial Loan Collection Officers often have a Bachelor's degree. Chart?chd=s:vxx9aa&chl=no+college+%2826%25%29|certificate+%2827%25%29|associate%27s+%2813%25%29|bachelor%27s+%2834%25%29||&cht=p3&chs=466x180&chxr=0,26,34
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