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.
Adrian, MI – April 25, 2012 – On Monday in Lenawee County Circuit Court, a former sheriff deputy’s lawsuit against a repo man he blames for his firing was scheduled for trial in September next year during a hearing Monday. Toyota Motor Credit was also named claiming the repossession order from Toyota Motor Credit Corp. was improper. If held responsible, TMCC could be held responsible in court. The Repo owners insurance will not defense the claim.
Chicago, IL – April 3, 2012 – Insurance wasn’t enough to protect Wisconsin’s North Shore Bank in its attempts to obtain settlement on a $370K RV fraudulent RV loan. Apparently, a fake VIN wasn’t enough to qualify as they lost another round in a long legal fight for insurance coverage over the bad loan on a motor home that never existed.
For Wesley Peirce, and his drivers at East Texas Auto Recovery in Longview, the goal seems simple.
“The goal is to get the car and leave with it,” he said. “If it’s front wheel drive, I want to get to the front of it, pick it up and leave.”
New Webinar Thursday, May 3, 2012
COLLECTING IN A HIGH TECH WORLD
10:00 a.m. PDT, 11:00 MDT, 12:00 CDT, 1:00 EDT (Duration: Approximately 90 minutes)
It’s a new world out there.
Many collection laws were written when people communicated by telephone or by U.S. Postal mail. When the Fair Debt Collection Practices Act was enacted in 1978, few people had answering machines and many were still using rotary dial telephones. Cell phones were bigger than bricks when the Telephone Communications Act became law in 1986.
Today, collectors have a variety of ways to communicate with borrowers. Telephone. Cell phone. Fax. Email. Text message. Social media.
But with new tools, come new questions. May you call a borrower’s cell phone? May you leave a voice mail? Does it matter if the voice mail is on the borrower’s home telephone or the borrower’s cell phone? How about the borrower’s work phone? Does it matter if you are returning the borrower’s call from that phone?
Fresno, CA – April 18, 2012 – A unnamed Fresno Repo Man and his Supervisor met with the family of a borrower as they attempted to repossess their SUV from the driveway on Wednesday. What ensued led to punches thrown, an arrest and injuries to the two men.
In an industry that is particularly hazardous and known for its share of fast moving riptides it is important to check your bearings and be able to “check-in”. Taking the opportunity to be with literally hundreds repossessors is the best way to stay focused and avoid being caught up in the morass of a fast moving riptide.
“We have been talking with many TFA members and insurance providers who are in receipt of the most recent Chase contact, and we must advise that, as an organization, we cannot support the terms of this contract. ”
Recently we have heard an outpouring of concern from the professional recovery agents and the insurance community regarding the newly released contract from Chase Auto Finance. NFA shares your concerns. The board discussed this matter last week at our midwinter meeting and decided to have the contract reviewed by our general counsel on behalf of the members of NFA. We will also be reaching out directly to Chase responding on behalf of the NFA.