I’M DONE! – Final Words from an Agency Owner

EDITORIAL

As the repossession industry continues to experience downward price pressure and continuous unreasonable demands from lenders and forwarders, we are saddened by the closing of yet another repossession agency. Below is a recent post made by the owner of one such agency.

 

Fellow owners I’m DONE. I got in this business when I was 21 years old and was getting paid MORE per repo, fuel was .88 cents a gallon insurance wasn’t even ten thousand per year and a brand new rollback was $52k. Trucks are now $100k fuel is 2$ @ a gallon, insurance is $60k and repo fees are down and now they have stripped us of any way to earn.

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Getting Back to the Point – The Heart of the Santander CARS Mandate Editorial

EDITORIAL REBUTTAL

Our initial editorial titled “Santander Demands CARS Certification – The Contingent Fee Contradiction” we addressed the issue of Santander/Chrysler demanding that all of their approximate 700 agencies be CARS Certified. Despite our extreme efforts to distance any blame on RISC, CARS or Joe Taylor, Stamatis Ferrolis or Mark Lacek, all of their editorial responses focused solely upon their defense. It seems like either they all miss the point or perhaps they agree with us and just can’t say it?

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Hobby Lobby Repo Standoff Ends After Five Hours

Officers attempt to convince borrower to leave the vehicle during standoff.

Lanham, MD – On Friday, September 15th, 2017 at approximately 1:45 p.m. SIA Towing of Lanham MD, attempted to repossess a vehicle. SIA towing received repossession paperwork. Tow truck driver Toby was dispatched to the Hobby Lobby parking lot, after GPS tracking had located the vehicle. Toby located the Lexus in the parking lot, and lifted the car onto his tow truck. While attempting to secure the vehicle, an unidentified driver made contact with Toby.

The Lexus driver requested to get “some personal items” out of the vehicle, and Toby allowed her to enter the car. Once in the Lexus, the driver refused to exit the vehicle.

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Allied Finance Adjusters Mid Year Meeting Holiday Inn Orlando Disney Springs Area

OCTOBER 18TH – 20TH 2017

The 2017 Allied Finance Adjusters Midyear Meeting will be in beautiful Orlando Florida, registration is open but space is limited so book your reservation soon. Come for the world class training Allied Finance Adjusters is renowned for and stay for a trip to Disney World.

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CFPB Faults Forwarders for Wrongful Repossessions

Washington, DC – 12 September 2017 – In a report published September 12th by the Consumer Financial Protection Bureau (CFPB), titled the “Supervisory Highlights, Issue 16, Summer 2017”, the CFPB released their findings from examinations of “servicers” overseeing repossession agents and how repossessions are conducted. Through that work, they identified unfair practices relating to repossessions that had been causing wrongful repossessions of borrowers who had already brought their accounts to current statues.

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Just the Facts Ma’am – Editorial Response from Joe Taylor

EDITORIAL REBUTTAL

Before I get started on this article I would be remiss if I did not first recognize those brave and compassionate recovery agents who have gone to Houston to help in the aftermath of hurricane Harvey. I thank you for your efforts and pray for your safe return to your own home soon.  I also continue to send prayers to those agents affected by Hurricane Harvey.  Now, to my reasons for writing this article.

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TexasARP Hurricane Harvey Repossessors Relief Funds Update!

To all victims of the Hurricanes this year our thoughts and prayers go out to you and your families!

 

FOR IMMEDIATE RELEASE

9/14/2017 – We would like to take this time to thank all of you who have donated!  A very special thank you to the California Association of Licensed Repossessors (CALR) and its members for their support! CALR has sent E-Blast to their members many times since the campaign started! Thank You!  Thank You! Thank You!

TexasARP started the Hurricane Harvey Repossessors Relief fund 5 days after Harvey made landfall. As of Sept 14th we have raised over $12,000.00! 100% of these funds will go to the recovery agencies and their employees that were affected by the hurricane.

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Why Santander Chose CARS – Editorial Response from Mark Lacek

EDITORIAL REBUTTAL

I read the recent editorial about Santander/Chrysler and I felt the need to respond from my point of view. One of the questions in the article was why Santander/Chrysler chose the C.A.R.S. National Certification Program for ensuring that the recovery agents they hire are professionally trained. I am going to try to answer that question only.

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American Recovery Association Announces Partnership with Recovery Database Network

FOR IMMEDIATE RELEASE

IRVING, Texas, September 15, 2017 – The American Recovery Association (ARA), the world’s largest association of recovery and remarketing professionals, is excited to announce a new partnership with Recovery Database Network (RDN). RDN, a business unit of KAR Auction Services (NYSE: KAR), is a specialized provider of software and data solutions related to the recovery of assets for the automotive finance industry. The agreement will help lenders manage and monitor vendor compliance by integrating ARA’s Compliance Monitoring System and compliance metrics with the various software solutions offered by RDN.

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