Coeymans, NY – May 14, 2012 – By no fault of their own, an unknown NY Repossession company found themselves the unwitting hired car thief of a Ravena, NY used car dealer.
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Leander, TX – May 11, 2012 – The borrower may have won the battle, but he lost the war. That’s at least some solace for an unnamed Repo Man who was forced from his recovery at the wrong end of a shotgun.
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Washington, DC – May 10, 2012 – Vendor due diligence and lender responsibility for the actions of third parties used by their contractors was highlighted In an announcement made last month by the Consumer Financial Protection Bureau (CFPB). This statement confirms the course of action that may be utilized by the CFPB to regulate the repossession industry as well as all lending service providers.
“April 13, 2012 – The Consumer Financial Protection Bureau (CFPB) today released a bulletin clarifying that financial institutions under Bureau supervision may be held responsible for the actions of the companies with which they contract. The Bureau will take a close look at service providers’ interactions with consumers. It will hold all appropriate companies accountable when legal violations occur.
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Rocky Mount , NC – May 7, 2012 – A federal judge has sentenced a used car salesman to seven years in prison for defrauding $1.2M in auto loans from Navy Federal Credit Union.
According to the charges, 39 year old Jady Brooks, working in Rocky Mount, N.C., recruited straw buyers to obtain loans from the $48 billion credit union for cars that did not exist.
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Charleston, SC – May 3, 2012 – Officials with the U.S. Attorney’s Office have sentenced six South Carolinians to prison for their roles in an auto loan fraud scheme that caused a reported $800K in losses.
The U.S. Attorney’s Office reports that the defendants were convicted for their roles in a scheme to fraudulently obtain auto loans by providing false documentation to over 16 different banks and credit unions.
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Press Release
Carmel, IN – May 4, 2012 – PAR North America has teamed up with vehicle transport provider CarsArrive to expand transportation services options for recovery agents while also offering them more revenue opportunities.
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Big Bear Lake, CA – May 3, 2012 – On February 13, Christina Darlene Johnson, allegedly stabbed a retired Los Angeles County deputy sheriff hired by the dealership as a repossession agent as he attempted to repossess a 2008 Subaru Impreza from Mitsubishi-Subaru of San Bernardino that she purchased on checks that later bounced. Despite multiple stab wounds and her attempted escape, the District Attorneys office has dropped charges of attempted murder in favor of a no contest plea to lesser charges of felony assault with a deadly weapon with great bodily injury likely and vehicle theft.
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Murrieta, CA – May 2, 2012 – A California Repo Man was attacked in mid repossession by a pair of men Monday afternoon.
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Editorial
Why are we working like this? We are forced to work for companies that basically have us up against a wall, either accept our terms or don’t receive the assignments. I feel like we are being bullied by these companies because we all know that if we turn down the work, someone else will do it. It seems like it’s a no win situation and I strongly believe that the banks need to be aware of who they are dealing with when choosing what I deem to be a cut rate operation.
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New Haven, CT – April 29, 2012 – According to police, a man upset that his car had been repossessed, confronted the owner of the auto sales company holding his car late Saturday morning and threatened him with a stun gun.
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