PlateSmart Technologies Selects PRA Location Services as Exclusive Reseller of “Software Only” LPR Solution

platesmart_praAuto recovery leader and disruptive LPR technology to transform industry

 

OLDSMAR, Fla. – April 29, 2015 —PlateSmart Technologies, the industry leader in License Plate Recognition (LPR), today announced an exclusive licensing agreement with PRA Location Services, a business of PRA Group (Nasdaq: PRAA), to provide LPR technology for PLS’ repossession and recovery services nationwide.

PlateSmart partnered with PRA Location Services (PRALS) as the exclusive licensee to the repossession and recovery vertical because of PRALS’ leading position in the auto recovery market, its financial stability as part of a public company, and its substantial nationwide system deployment commitment.

Read More!

Strong Loan Growth Continues Competitive Pricing Often leads to Increased Bad Debt

cu_rcvryFOR IMMEDIATE RELEASE

Wyoming, MN April 27, 2015. Current economic forecasts indicate that loan growth will continue for the rest of 2015 and 2016. CUNA’s Credit Union Trends Report indicates that in February 2015 credit unions increased their loan portfolios by .22% up from .11% in February 2014 and loan balances grew at a 10.9% annual pace. CUNA is predicting that loan growth should remain at about 10% for the next 2 years. A recent Wall Street Journal article cites that the overall consumer base is healthier due to a stronger economy and falling jobless rates. While a perfectly balanced loan portfolio is the ideal for lenders, it may not be the reality when consumers have more flexibility and more capacity to make purchases – wherever the terms are the best. In a competitive pricing environment credit requirements are often loosened, resulting in increased bad debt.

  Read More!

Family Fracas with Repo Man Leads to Theft and Assault Charges after Altercation

wsac_repoimageSacramento, CA – April 21, 2015 – There are two sides to every story, but sometimes, the defenses people play to excuse their wild behavior during a repossession are very questionable and once again, the practice of going to the door for keys and to let the borrower get their property from the vehicle proves to be a sketchy proposition.

  Read More!

What should you pay for a repossession service & What is the true cost of a compliant repossession?

carslogo1 Consolidated Asset Recovery Systems Presents:

 

webnar

 

  • What should a repossession cost?
  • What is the market average?
  • How much of a premium does performing a compliant repo add to the service?
  • Do I care what my forwarder is paying the agent? If so, how much should they pay?
  • Does geography affect the cost?
  • Which fee’s associated with the repossession are recoverable?

 

   Read More!

 

Court Rules Repossession Agency Subject to Liability under FDCPA upon Violation of State Self-Help Repo Law Requirements

law_stOhio, February 27, 2015 – A recent court decision from the Northern District of Ohio, Vantu v. Echo Recovery, L.L.C., held that a repossession agency, while generally not subject to liability under the Fair Debt Collection Practices Act, becomes subject to such liability when it undertakes to repossess collateral that it does not have a present right to possess.

This case arises out of a messy situations involving a defaulted auto loan and a botched attempt at repossessing the vehicle securing the loan with the threat of force.

   Read More!

Skip to toolbar