Bankruptcy Specialist is responsible for the documentation and filing of loan bankruptcy materials with the appropriate attorneys. Ensures full compliance with loan bankruptcy regulations. Being a Bankruptcy Specialist monitors accounts throughout the loan bankruptcy process and contacts appropriate party when necessary. Verifies the bankruptcy is secured and acquires a copy of the proposed Chapter 13 Plan on all secured accounts. Additionally, Bankruptcy Specialist captures Chapter 7 reaffirmation agreements to management for approval. Distributes account balances and interest rates to the secured and unsecured balances. Stays current with changing state specific bankruptcy laws. Typically requires a bachelor's degree or its equivalent. Typically reports to a supervisor. The Bankruptcy Specialist works on projects/matters of limited complexity in a support role. Work is closely managed. To be a Bankruptcy Specialist typically requires 0-2 years of related experience. (Copyright 2024 Salary.com)
Responsible for coordinating all legal activities of the collections, loan servicing, and lending departments. Organize, plan, and manage all activities associated with member accounts, including Visa credit and debit cards, lines of credit, secured loans, real estate loans, shares and home equity lines of credit involved in bankruptcy or legal proceedings. Reviews accounts, determines Credit Union position and, as circumstances dictate, directs and assists internal/external legal counsel in proceedings. Performs periodic evaluation of bankruptcy procedures and modifies as needed. Ensures that established policies, procedures, and legal requirements are followed. Coordinates activities, ensuring that the credit union is protected and supports Credit Union objectives. Ensures that services are delivered professionally and efficiently.