Important Changes to Florida’s Repossession Law

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Guest Editorial

Chapter 493 is the Florida law that regulates the licensure and oversight of those who provide repossession services as well as licensure and oversight of the private investigation and private security industries.

Effective July 1st, 2013, some very important changes were added to this law by the Florida Legislature.  These new changes are very important to licensed recovery agents, creditors who hire the services of Florida Recovery Agents and those who service repossession assignments without proper license, including unlicensed auctions, transporters, private towers, etc.

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Illegal for Auctions to Pick Up Voluntary Repossessions in Florida….Is That Fair?

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Guest Editorial

As of July 1, 2013, it is officially a crime (third degree felony) for an unlicensed person to pick up a voluntary repossession in the state of Florida (Florida Statute 493.6120). The upshot of this is that it is illegal for an auction or transporter or any other entity to pick up a vehicle from a consumer…by law, has to be done by a state-licensed repossessor.

Is this unfair? Since it’s a voluntary, doesn’t it make sense for an auction or transporter to pick up a proverbial “sitting duck” and save the creditor a little money?

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Dates Announced For 6th Annual North American Repossessors Summit, Call for Speakers Also Opened

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Dynamic and Engaging Speakers Wanted for March 2014 3-Day Conference

Dallas, TX (July 25, 2013) – The North American Repossessors Summit (NARS), an industry event hosted by the American Recovery Association, Inc. (ARA), Allied Finance Adjusters (AFA) and Time Finance Adjusters (TFA), is proud to announce the call for speakers is now open for its sixth annual event, to be held March 20-22, 2014.

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Man (or Woman) in the Mirror

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Guest Editorial

Manassas, VA – 22 July 2013 – One of my favorite songs from the 1980’s is Michael Jackson’s Man in the Mirror.  This was an anthem of sorts for self-help where the lyrics called upon people everywhere to take a hard look at themselves and the world and make a change.

That is exactly what this industry needs to do.  For years there have been calls for unity, but unity will never come to fruition when you yourself are conflicted or are unable or unwilling to stand up for yourself.  The industry is grasping desperately for anything that promises change, yet when push comes to shove very few are willing to do what needs to be done themselves.

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Judge May Grant Man Immunity for Murder in 2012 Repo Man Killing

shelly_trial2Sumter, SC – July 23, 2013 – Third Circuit Judge George C. James Jr. is expected to render a decision at 4 p.m. Wednesday as to whether 82 year-old  Alton Shelley, accused of murdering 38  year-old  Todd Showell in November 2012 should be granted immunity from prosecution for murder.

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Dealers To Give High Noon Bids at the New Mile High Auto Auction Opening Tuesday, August 6th in Centennial, Colorado

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PRESS RELEASE

Centennial, CO – July 23, 2013 – Industry veteran Tim DeBerry has chosen his home state of Colorado as the proving ground for his lifelong dream of building an auto auction.  “Mile High Auto Auction was founded to provide dealers with the absolute best service,” said DeBerry.  “My partnership with Loveland Auto Auction owners Scott Read and Bart Barnett is making this happen.

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Making the Most of it

smileyGuest Editorial

Are you familiar with the term “optimistic realist?”  That is someone who is optimistic about the situations they find themselves in and are “realistic” about the final results of those situations.  I would like to apply that mind-set to what is taking place in the financial community and the collateral recovery industry today.

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“Reality TV” Repo Man Loses Police Disability Pension

j_driccoHamilton Township, NJ – July 15, 2013 – Joe Derrico, a repossesor on the TV show “Bear Swamp Recovery”, lost his $69,703 tax free disability pension when the New Jersey Police and Firemen’s Retirement System recognized his actions on the television show made it appear that he was not disabled and was publicly “laughing at everybody.”

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Recovery Database Network Introduces Compliance Dashboard and Automation Center

RDN Compliance Dashboard and Automation Center

Press Release

 Provides lenders with asset recovery performance data and compliance monitoring

Redwood City, CA – Continuing its leadership assisting automotive lenders with the efficient management and automation of asset recovery, Recovery Database Network (RDN) today introduced its Compliance Dashboard and Automation Center.

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