Consumer-oriented models have conceptualized recovery in two main ways: as a multicomponent process across various life domains, and as a series of identifiable stages occurring over time. The main goal of the present study was to determine whether psychosocial factors, namely internalized stigma and personal loss, predicted a greater amount of variance in reports of consumer-oriented recovery than demographic, treatment, and illness severity characteristics. Recovery was measured as both a stage and process. Using a sample of 160 adults with serious mental illness from community settings, hierarchical regression analyses were used to examine the relative contribution of demographic characteristics (age, gender), level of enrollment in mental health services, illness severity (psychiatric symptom frequency, insight), and psychosocial factors (personal loss and internalized stigma) on stage- and process-based recovery. Results showed that, beyond demographic, treatment, and illness severity factors, internalized stigma significantly predicted the lowest stage of recovery (moratorium), while personal loss significantly predicted the highest stage of recovery (growth). Neither psychosocial factor alone significantly contributed to the prediction of process-based recovery. Findings suggest that personal loss and internalized stigma are impediments to consumer-oriented recovery, and should be considered alongside clinical measures when evaluating models of mental health recovery. Implications for future research and social policy reform are discussed. (PsycInfo Database Record (c) 2020 APA, all rights reserved)