Experian Automotive: Outstanding Auto Loan Balances Reach Record High of $839.1 Billion

experian_logo30- and 60-day delinquencies show slight uptick

Press Release

Schaumburg, Ill., Aug. 20, 2014 — Experian Automotive today announced that outstanding automotive loan balances reached an all-time high in the second quarter of 2014.

Other findings include:

• The overall automotive repossession rate saw a significant increase in the second quarter of 2014, jumping more than 70 percent to 0.62 percent from a year earlier.

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CALR – A Presidents Message

calr14

Press Release

IT WAS CALR THAT…

Throughout the years, CALR has been the gatekeeper of our repossession industry. It was CALR that identified AB 306 last year and initiated talks with stakeholders. Because of CALR, licensed repossessors are exempt from having to provide a copy of their motor carrier permit to a tow yard.

It was CALR that added B & P Section 7505.2
That specifies when repossessing jet skis and motorcycles, repossessors are allowed to take the trailer without a repossession order to execute a safe repossession.

It was CALR that amended B & P Section 7505.2
That allows repossessors to remove a locking mechanism or security device on the collateral before, during, or after a repossession.

It was CALR that amended B & P Section 7507.12
Which allows for a repossession to be complete among other things when a repossessor moves the collateral or gains control of the collateral. Most importantly, prohibits anyone other than the legal owner from directing a repossessor to release a vehicle without the legal authority to do so.

It was CALR that amended Section 14602.6 and 22658 of the Vehicle Code What a law enforcement agency and tow yard/storage facility can ask the repossession agent for when obtaining a release/recovering a vehicle
I have been selected to serve on the Bureau of Security and Investigative Services Committee. As the president of CALR, I will lead our industry in the fight against unjust and unreasonable government oversight and work to preserve our rights to earn a living, to support our families and to fair and reasonable regulations.

The rights of licensed repossessors in our state are under siege and are being eroded and suppressed by big business and government authority. Therefore, CALR needs increased membership participation. We need to recruit new members who are willing to join the fight to protect our rights. We don’t have much time. At this very moment, new legislation and regulations are being drafted to negatively impact the rights of licensed repossessors. In order to sustain the laws on the books that protect the repossessor we must increase our membership our industry will perish.

 

Marcelle L. Egley

President, CALR

 

Eric North Named CALR Convention Keynote Speaker

 calr14Press Release

CALR’s announces sign up beginning for their 52nd Annual Convention held at the National Historic Landmark, The Mission Inn Hotel & Spa, November 6-8, 2014. The keynote speak is Eric M. North of NorthLegal Training and Publications and Moore Brewer Wolfe Jones Tyler & North.

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Man Steals Back Repo and Lands in Jail

t_moor_flaVolusia County, FL – August 12, 2014 – Monday night, a 43 year-old DeLand man tried to turn the tables on the Repo Man by taking back the 2005 Kia van that had just been repossessed. The foolish stunt earned him a trip to jail after a Volusia County Sheriff’s deputy arrested him on charges of grand theft of a motor vehicle and criminal mischief.

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American Recovery Association Partners With Two of The Largest Repossession Insurance Programs, Providing Members With Exclusive Insurance Benefits

 

ara_lrgPartnership with Harding Brooks Insurance and North Star Management 

delivers insurance and compliance programs to help alleviate risk for ARA members

 Press Release

IRVING, Texas,August 5, 2014American Recovery Association (ARA), the world’s largest recovery and remarketing association, today announced its partnership with Harding Brooks Insurance and Northern Star Management to offer exciting new benefits, available exclusively to all ARA members.

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