Bankruptcy Officer III

The Bankruptcy Officer III performs duties relating to bankruptcies including all correspondence with courts, trustees, attorneys and members; tracking effected loans until discharge or dismissal and referring them to Loan Resolution for future follow up, charge/off or continued collection efforts. Works with attorneys, schedule court dates and make appearances on behalf of the credit union for legal actions.

• Updates and logs activity on accounts in bankruptcy through the delinquent loan recovery system.           
• Responsible to review chapter 7 & 13 bankruptcy filing for dischargeability and reviews bankruptcy schedule and checklist.    
• Prepares and files with Bankruptcy court proof of claim, service notice to attorney, trustee and debtor.    
• Prepares reaffirmations and sends to attorney and file with bankruptcy court.              
• Responds to attorney's requests for additional information on member accounts in bankruptcy.  
• Reviews and authorizes payment for all bills relating to bankrupt legal activity.              
• Reviews and updates delinquent recovery system on status of loans as it pertains to bankruptcy proceedings.    
• Requests legal action and prepares forms required by attorney for legal referral as it pertains to bankruptcy proceedings.          
• Tracks loans involved in bankruptcies until discharged/dismissed and recommends either collection activity or charge/off and update in delinquent recovery system.
• Reviews all accounts that have filed bankruptcy and recommends to Manager the appropriate action, which includes obtaining files, filing all claims, and coordinating with trustees.       
• Follows up bankruptcy notices with proper system coding and attempt to determine intentions for repayment from the attorney and/or member.
• Follows up on Member Payments for Judgments or Settlement Agreements, assigns to attorney for wage garnishment, levy, etc.    
• Determines if legal action is necessary and assigns cases to attorney for relief from the automatic stay, objection to confirmation of plan, non discharge/ability complaints, enforcement of judgments, etc. and follow up     
• Works collection queues           
• Reviews and updates Bankruptcy policies and procedures      
• Reviews and audits new EA’s for accuracy and delinquency     
• Verifies accuracy of liens when reviewing bankruptcy filings.  
• Utilizes Kelly Blue Book and Black Book to assist in determining collateral values when determining whether to object to offers of reaffirmation on vehicle loans.              
• Responds to telephone calls regarding inquiries when loans are in bankruptcy and /or have been discharged or dismissed.
• Establishes and maintains close follow up on those loans that are past due and submit for charge off as required.
• Answers general collection questions from members and staff regarding loan payments.
• Determines when to compromise and settle balances and when to refer loans for potential foreclosure or repossession proceedings.
• Secures credit bureau reports as appropriate.
• Works within and directly impacts their function, occasionally interacts with other departments.

Education

Min/Preferred: Preferred

Education Level: 4 Year / Bachelors Degree     

Description: Bachelor’s degree preferred        

Experience

Minimum Years of Experience: 4

Preferred Years of Experience: 6

Comments: 4-6 years of experience    

• Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public.
• Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume. Ability to apply concepts of basic algebra and geometry.
• Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
• Must have experience in collections and repossession; using an on-line collections system and five years bankruptcy experience in a financial institution.
• Must also possess a working knowledge of the legal aspects of collection, bankruptcy and repossession Must have thorough knowledge of the laws and fundamentals of lending, plus loan collection concepts and practices
• Must have thorough knowledge of the Fair Debt Collection Practices Act.
• Must have working knowledge of the Microsoft suite of office products.
• Knowledge of the Symitar system preferred.
• Contribute to large projects and are a force of proposition on their scope of work towards improvements and achievement.