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Bankruptcy Specialist

Auto Finance: Chapter 7 & Chapter 13 Servicing Full-Time | Onsite (UT)

Position Summary

The Bankruptcy Specialist is responsible for the accurate, compliant, and timely handling of all customer accounts that enter or are active in bankruptcy after funding. This role requires strong ownership of each case from filing to discharge or dismissal, including intent verification, reaffirmation processing, plan oversight, valuation strategy, trustee/attorney communication, documentation quality, and post-discharge handling.

The Bankruptcy Specialist ensures that Avid’s secured interests are protected, customers are treated fairly, and all actions meet federal bankruptcy standards, company policy, and internal audit expectations.

Key Responsibilities

1. Case Ownership & Workflow Management

+ Manage a portfolio of Chapter 7 and Chapter 13 accounts from filing through discharge/dismissal.

+ Maintain timely, structured follow-up cycles for each account.

+ Verify, document, and follow customer intent (retain, reaffirm, surrender) accurately and consistently.

+ Monitor automatic stay protections and ensure actions remain fully compliant.

2. Communication & Professional Outreach

+ Communicate with customers, attorneys, and trustees using approved, compliant language only.

+ Phone-first communication for clarity.

+ Write professional, neutral, and accurate emails.

+ Ensure all communications are documented with full detail and context.

3. Reaffirmation, Retention & Surrender Handling

+ Proactively identify reaffirmation opportunities and follow through until completion or rejection.

+ Engage attorneys and customers appropriately regarding retain-and-pay vs reaffirm decisions.

+ Avoid premature push to surrender; explore all retention options when appropriate.

+ Ensure surrender instructions, repossession timing, and follow-up are consistent with policies.

4. Chapter 13 Plan Oversight

+ Track AP (Adequate Protection) payments and follow up promptly on missing or late funds.

+ Maintain regular, documented communication with trustees and attorneys.

+ Submit and track Proofs of Claim (POCs), amend POC’s if needed.

+ Review court Docket for amended plans, objections, and monitor hearings.

+ Ensure cramdown valuations are challenged appropriately.

5. Compliance & Documentation Standards

+ Maintain detailed, accurate notes on every action, conversation, and legal instruction.

+ Ensure all discharge updates, coding, payments, and account changes comply with bankruptcy law.

+ Prevent any delinquency language, collection behavior, or improper disclosures post-discharge.

6. Risk Management & Loss Mitigation

+ Evaluate vehicle value, customer history, and bankruptcy strategy to minimize loss severity.

+ Protect secured collateral through timely communication and accurate valuation challenges.

+ Escalate stalled or complex cases following the department's escalation structure.

7. Cross-Functional Collaboration

+ Coordinate with Legal, Servicing, Collections, Funding, and Dealer Relations as needed.

+ Participate in policy alignment meetings and contribute insights to improve workflows.

+ Support training initiatives for new bankruptcy processes and best practices.

Qualifications

Required Skills & Qualifications

+ 2+ years of bankruptcy servicing experience (auto finance preferred).

+ Strong understanding of Chapter 7 and Chapter 13 bankruptcy processes, legal terminology, and trustee expectations.

+ Excellent written and verbal communication skills; ability to maintain professional tone.

+ High attention to detail, accuracy, and documentation quality.

+ Ability to prioritize multiple cases in various stages with tight timelines.

+ Comfort with valuation guidelines (MMR, NADA, Clean Retail) and their financial implications.

+ Proven ability to follow structured workflows and escalate issues appropriately.

+ Familiarity with CFPB, FDCPA, bankruptcy compliance rules, and regulated communication requirements.

Preferred Skills

+ Experience working in a subprime or BK-heavy auto finance environment.

+ Experience with reaffirmation tracking, trustee portals, electronic POC submission, or BK software.

+ Understanding of loss mitigation, repossession coordination, and post-discharge customer handling.

+ Ability to identify improvement opportunities in workflow, documentation, or compliance.

Key Expectations

+ Phone-first communication with attorneys and customers.

+ Frequent, scheduled follow-up.

+ Accurate intent verification for every account.

+ Timely reaffirmation attempts when appropriate.

+ Active oversight of Chapter 13 plans and AP funds.

+ Clear documentation explaining all decisions and communications.

+ Immediate action on discharged accounts.

Success Indicators

+ Timely reaffirmation handling and reduced missed opportunities.

+ Clean, audit-ready documentation on all accounts.

+ Accurate valuation challenges and reduced loss severity.

+ Improved trustee communication and AP collection.

+ Faster case resolution and fewer long-dormant accounts.