Bankruptcy Specialist, Consumer Loan Center
Conducts bankruptcy process functions and ensures applicable laws, compliance statutes and bankruptcy code guidelines are followed. Reviews and interprets all documents (legal and otherwise), including loan documents, bankruptcy plans and schedules, dockets, pleadings, etc. Develops and maintains working relationships with inside and outside counsel, trustees, and bankruptcy courts.
Directs, monitors, and audits processes including, the following in all Comerica markets:
* Proofs of Claim, Stip Orders; reaffirmations with court, Lift of Stay Orders, and instructs outside legal counsel to file objection where applicable
* Cram Downs (principal reductions) and objects, where applicable
* Monitors expenses, discharges and dismissals, restructuring plans, and analyze and submits accounts for write-downs.
Recovery, Reporting, Communication & Back-up:
* Monitors all legal and bankrupt accounts to dismissal, discharge or completed plans.
* Negotiates and accept settlements on accounts within authority level.
* Monitors monthly reporting for all bankrupt accounts.
* Reviews and establishes payment arrangements to maximize dollars collected.
* Manages all internal and external attorney relationships to ensure that performance standards are achieved in the most cost effective manner, while maintaining all compliance standards.
* Reviews and processes invoices and submits for approval within required authority.
* Recommends appropriate write-downs required per Credit Policy.
* Appears in court, if necessary, as an expert witness on behalf of Comerica, for trial or settlement conferences, or for any other departmental need.
* Backs up Foreclosure/ORE functions, as necessary, in all Comerica markets.
* Assists internal and external customers on account status inquires and problem resolution.
* Bachelor's degree or 3 years managing bankruptcy portfolios
* 3 years bankruptcy experience including knowledge of bankruptcy chapters 7, 11 and 13 along with applicable consumer regulations federal and state laws
* 2 years word processing and spreadsheet software experience.
Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled