Legal Recovery Specialist

Vibrant Credit Union•Moline, IL

1d•Onsite

About The Position

The Legal Recovery Specialist supports Vibrant Credit Union's Collections department by assisting with the full range of asset recovery and collections matters, including bankruptcy tracking, litigation support, probate claims, and coordination with outside legal counsel and recovery vendors. The Specialist creates and maintains accurate account files, monitors and manages shared and departmental email inboxes, and prioritizes time-sensitive communications. This role produces outbound mail for accounts as required by statute and account servicing needs, processes payments and Collections-specific transactions, and generates and securely uploads daily operational file exports to vendor platforms while maintaining data integrity and meeting established deadlines.

Requirements

Associate or bachelor’s degree in paralegal studies, Legal Studies, or a related field; paralegal certificate from an ABA-approved program preferred. Equivalent experience will be considered.
Minimum three to five years of paralegal or legal support experience, preferably in a financial institution, law firm, or collections/asset recovery environment.
Working knowledge of bankruptcy law and proceedings (Chapters 7, 11, and 13), including proof of claim filing and court docket monitoring.
Experience coordinating with outside legal counsel and managing legal files across multiple active matters.
Familiarity with legal research tools and court filing systems (e.g., PACER); experience drafting demand letters, affidavits, or settlement documents preferred.
Experience with financial adjustments, payment application, reconciliation, or general ledger management is a plus.
Strong analytical, organizational, and written communication skills; ability to manage competing deadlines independently.
Ability to operate related computer applications and office equipment; proficiency in Microsoft Office suite required.
Adheres to the Credit Union’s core values and Service Standards in conducting Vibrant’s mission and vision.
Demonstrates a positive member service focus (internal and external) and strong teamwork in all interactions.
Ensures confidentiality of member and account information at all times.

Nice To Haves

paralegal certificate from an ABA-approved program preferred
Experience with financial adjustments, payment application, reconciliation, or general ledger management is a plus
experience drafting demand letters, affidavits, or settlement documents preferred

Responsibilities

Track accounts in active bankruptcy proceedings (Chapters 7, 11, 12, and 13); monitor court dockets, deadlines, and plan confirmations; maintain accurate system status reflecting current bankruptcy standing and all related correspondence.
Assist with preparation, review, and filing of proofs of claim; consult with inside and outside legal counsel to ensure accuracy, timeliness, and completeness of all submissions.
Coordinate responses to bankruptcy notices and filings received by the credit union; ensure all relevant internal systems are updated promptly and accurately to reflect the status of each matter.
Communicate proactively with outside bankruptcy counsel on active matters, escalating time-sensitive items and providing documentation and account history as needed.
Assist with preparation and filing of collection lawsuits, including money judgments, replevin actions, and collateral repossession proceedings; support outside attorneys in litigation coordination and document management.
Support probate matters involving credit union claims against decedent estates; assist with filing, amending, and releasing claims against estates as directed, and coordinate with Vibrant’s legal counsel for review and approval prior to any claim release or resolution.
Serve as the operational contact for outside counsel handling asset recovery, collection, and bankruptcy matters; manage file placement, case status updates, escalations, and documentation exchange.
Prepare, review, and securely upload account documentation and supporting files to legal counsel and third-party recovery vendors; proactively monitor and manage the status of all files placed with outside counsel.
Review and process invoices from outside legal counsel and recovery vendors; track legal spending against department budget and flag variances.
Conduct factual and legal research in support of asset recovery matters; draft demand letters, settlement agreements, affidavits of debt, and other legal documents as directed by inside or outside counsel.
Monitor shared inboxes for repossession, departmental, and bankruptcy communications; prioritize and respond to inquiries, route time-sensitive items to appropriate stakeholders, and maintain accurate documentation within internal systems.
Assist in the creation and updating of process documentation, procedure guides, and compliance-related records for the department.
Assist in completion of OREO, FMV Write Down, Charge Off Processing, and Vehicles in Process of Liquidation write downs for the Collections Department; maintain accurate documentation of accounts and files.
Process payments, reversals, and reapplications for repossession and post-charge recoveries received from the in-house recovery team as well as placement agencies and firms.
Perform transactions specific to the Collections Department including posting of exception payments, claim funds, sale proceeds, disbursing checks, deposits, transfers, and withdrawals on serviced accounts; research and adjust loans, accounts, and related general ledgers as necessary.
Assist with department mail processing, vendor payments, and other administrative functions as needed.
Assume responsibility for related duties and special projects as required or assigned.
Generate and securely upload daily operational files to vendor platforms for 1st and 3rd party collections, maintaining data integrity, meeting established deadlines, and resolving issues as needed.