What Happens When the Professional Repossession Industry Dies?

EDITORIAL

Well, this isn’t likely to help in my job hunt in lending and collections, but I’ve got to get it off my chest.

A friend of mine who works in a repossession related business, recently had a meeting with a leader of a large financial organization who assigns their work through a large forwarding company. Their conversation turned to fees and my friend brought up the fact that many repossession agencies are closing due to decades long stagnant fees created by the forwarding model. The leader of this organizations indifferently said, “that’s their problem.”

  Read More!

PAR North America Assists the RABF With a Significant Donation and Pledges Future Support!

Jeff Sibbet, Director of Recovery Services for PAR North America reached out to the Recovery Agents Benefit Fund with exciting news of their support for the RABF at their recent Agent Networking Event and Golf Outing held in Indianapolis, Indiana in June; along with news of their planned continued support of the fund and this industry.  Many businesses donate tens of thousands of dollars to charitable groups every year as a result of corporate fundraising efforts for the positive impact on public relations and for the corporate tax benefits. 

  Read More!

Response to Pennsylvania forming CFPB

FOR IMMEDIATE RELEASE

There is big news out of Pennsylvania this morning affecting the financial Institution and third-party service provider world. Pennsylvania Attorney General Josh Shapiro announced the formation of a State of Pennsylvania Consumer Finance Protection Bureau.

  Read More!

Women in the Repossession Industry – Making their Mark

Joan Hudson is a legend in the repossession industry and has definitely made her mark as a role model for getting involved and making things happen.  She was a pioneer in a male dominated industry and committed herself to educating others about the repossession industry. She is currently the owner of A.R.B. of Louisiana and the President and Owner of A.R.B. Investigation Agency.  She has grown her company from one location to seven offices statewide so no agent has to drive more than 65 miles.

  Read More!

Repo Man Shoots Family Dog – Accusations Ensue

Detroit, MI – 17 July 2017 – A repo man said when he pulled up to repossess a vehicle in Detroit, he had no choice to but to shoot a family’s dog that he says was ready to attack. But the owner of the dog says that’s not true – from the back of a police car.

  Read More!

The $500 Repo Fee

Editorial

$500 repo fee. Sounds pretty radical, doesn’t it? Well, really, it’s not. I imagine every one of us has had a father or grandfather who tells us how candy bars used to cost a nickel and gas was a quarter a gallon. Well, they’re usually telling the truth. These changes are reactionary to operational costs of living and operations and fall under a proven thing called (dig this) inflation.

  Read More!

Pressing Issues of Our Time

FOR IMMEDIATE RELEASE

As we quickly approach the arrival of our 9th anniversary of the first North American Repossessors Summit (NARS), I thought I would reflect some on where we are today as an industry.

For starters, many of the people who attended the first conference are no longer in the business, and I am concerned many who attend this year’s event won’t be in business next year.

  Read More!

KY Repo Man Threatened and Beaten at Gunpoint

Hopkinsville , KY – 14 July 2017 – Two Hopkinsville residents were arrested Wednesday after they reportedly assaulted and held a gun on a man trying to legally repossess a vehicle.

  Read More!

Starting a Repo Company – The Numbers Don’t Work!

Editorial

In March of 2017, my 16 years of employment with the credit union I had been working for, came to an end. The writing had been on the wall for a while, so it was disappointing, but not a complete surprise. The only question was, what next?

Plan B – My 19 year career in collections and banking started from my experience and contacts I had made way back with National Auto Recovery Bureau in San Jose as a Manager, where I had spent 4 of my 7 years in the industry. Having closely followed the repossession industry for all of these years, I saw opportunity in the “Boom Town” of Silicon Valley where I reside.

So, before jumping into the fray, I started doing the numbers.

  Read More!

STOP Manufacturer Licensed Repossession Exemptions!

AB 290 Exemption from Collateral Recovery Act [Oppose]

Please help us stop AB 290 from passing! This bill will could affect recovery agents nationwide! All states look at California to adapt new laws. If AB 290 passes it would allow companies like John Deere to be exempt from using repossession agencies.

  Read More!

24 visitors online now
21 guests, 3 bots, 0 members
Max visitors today: 68 at 08:36 am UTC
This month: 83 at 07-13-2017 08:07 am UTC
This year: 111 at 05-08-2017 07:10 am UTC
All time: 307 at 07-02-2014 03:18 pm UTC
Skip to toolbar