Consumer Experience Surveys Required for Repo Redemptions?


October 31, 2017 – In what bizzaro universe would someone expect to receive positive feedback from a borrower redeeming their repossessed vehicle? Well, that’s the expectation being pressed upon repossession agencies working for national forwarder, Millennium Capital and Recovery Corp. on Toyota and Wells Fargo accounts.

On October 31st, the below email was sent to participating MCRC agencies reminding them of the requirement that customers reinstating or redeeming their repossessions.


MCRC Agent Network,

This is a Reminder.  Millennium Capital has been using a slightly different redemption releases for Toyota and Wells Fargo redemptions for several months now, and are noticing a number of the forms are NOT being initialed by consumers for one reason or another.  The change we had made was adding a section to the releases called “CONSUMER EXPERIENCE”.  If you look at the attachments on this email, you will see this new section towards to bottom of the release…just after sections for INSTRUCTIONS AND FEES.  It is very important that the consumers initial these forms going forward.

We added the CONSUMER EXPERIENCE section for several reasons:

  1. Allow consumers to initial that they are satisfied with their redemption experience
  2. Allow consumers to provide feedback so it can be addressed (potentially avoid claims)
  3. Ultimately create a positive redemption environment for both the consumer and agency

**  It is very important that you point out this section to consumers every time they redeem Toyota or Wells Fargo vehicles.  The goal is for them to be satisfied with the redemption process and initial all 4 statements.

***  If they will not initial, that does not mean you do not allow them to redeem their vehicle.  Instead, we would want you to ask them why they do not want to initial.  If they are unhappy with one of the statements, ask them if they can write down on the release why they are not happy.  If they will not do that, please write on the release “REFUSE TO INITIAL.”  Mark down any issues they may have mentioned during the redemption process and then release the vehicle to them.

Please be sure to share this email with your entire company as it is very important these forms are filled out completely moving forward.  Millennium Capital will be monitoring these forms closely.

Thank you and Happy Halloween!

MCRC  Management


While this is certainly not the most onerous request and it is somewhat admirable that some attempt to allow a venue for their customers to vent their frustration is made, it seems a little silly to say the least, that any meaningful feedback could be derived from this now months old process. We do not know at this point if this is a demand from Wells Fargo or Toyota or something that MCRC has offered this to them, but the thought process, while well meaning, is clearly not looking at the situation objectively.

In all fairness, the four questions provided in the form are harmless enough and merely inquire as to the borrowers ability to inspect the vehicle before redemption, reception of all personal property, but the last two “I was treated in a professional manner” and “I am satisfied with condition of the vehicles interior and exterior” are likely to pour salt on an already open wound from the repossession experience. Perhaps they should rename the section from “Consumer Experience” to something else.

Anyone who’s ever managed reinstatements can attest to the fact that getting borrowers to sign anything is challenging enough, opening up the process to expect them to initial “satisfaction” with anything is laughable. I imagine some will comply, but I also assume this will further stoke the flames of frustration by the borrowers as they encounter this “tone deaf” series of questions.

Don’t get me wrong, I know many have experienced positive customer feedback. I hear about it from time to time. But these experiences are few and far between.

Agents working with most forwarders can attest to the fact that their demands have gotten out of hand. especially, for the low wages paid with contingency. Participation in forwarding companies is getting to the point of hardly being worth the work. Clearly, the Lenders and Forwarders have no idea just how out of hand this all is.


Kevin Armstrong


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