Palatine, IL (February, 1 2012) – MVTRAC, a premier provider of cradle-to-grave location and recovery solutions and home of the neural ALPR system called The Intelligent Data Network™, is pleased to announce a transaction between MVTRAC, DRN and Vigilant, involving a license of MVTRAC’s ALPR historical tracking patent. The undisclosed terms of the transaction conclude all litigation between the parties.
To the outside world, collections looks pretty simple, call people and guilt and threaten them into paying money they owe. The reality is, collections is perhaps the most complicated and litigious area of any lending institution. Think of all of the interconnecting regulations pertaining to bankruptcy, credit reporting, the FDCPA, the UCC, California’s Reese Levering Act and the archaic FTC rules on telemarketing and they’ll see just how simple it really is.
Amazingly, most of us dance through this legal minefield daily with no trouble at all. Regardless, it is always wise to put on our “thinking caps” from time to time and keep the thought processes of both ourselves and our staff sharp.
West Bloomfield Township, MI – February 23, 2012 – After a borrower refused to surrender their vehicle to him, a Michigan Repo Man’s frustration boiled over last Thursday. In a fit, Adam Lankin, 35 years old, allegedly decided that it was appropriate for him to draw and discharge a gun.
White Lake Township, MI – February 27, 2012 – Sure gas prices are on the rise, but a $5M class action lawsuit over half a tank of gas? Sounds nuts, but that’s what 43 year old Victoria Church-Dellinger’s attorney Brian Parker, filed against Ally Financial in a Federal court.