Santander Collecting Storage, But Repo Agencies Can’t?

To quote someone who may desire to remain anonymous, “Let This Sink in…”

Perhaps I’m a little late on this, but a copy of a borrower notice of intent letter from Santander/Chrysler to an unnamed borrower has surfaced showing Santander charging $25 a day storage while forcing their repossession agents, direct and via Forwarder, to waive the fees. This is almost too bizarre to be true.

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Developing World-Class Debt Collectors Collection Education Scholarships Available

FOR IMMEDIATE RELEASE

Wyoming, MN – February 20, 2018 – Keeping debt collectors up-to-date with fundamental resources and regulatory changes is one secret of a successful collection department.  With changes to the industry coming from every direction, it can be a challenge to keep staff informed.  Now in its eighth year, the CU Recovery Collection Academy educational conference represents a debt recovery strategy geared specifically toward reducing credit union delinquency.  CU Recovery shares its 25+ years of experience by presenting collection best practices, offering peer-to-peer networking opportunities, and speakers covering topics important to day-to-day operations.  The 2.5 day Academy curriculum is formulated from attendee feedback on topics that are essential to the health and success of credit union collection departments.

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CU-Solutions CU Repossession & Remarketing Summit 2018 Heading to Atlanta

Atlanta, GA

May 23rd and 24th, 2018

 

FOR IMMEDIATE RELEASE

Cu-Solutions will be holding it’s CU Repossession & Remarketing Summit 2018 on May 24th, 2018, from 9;00am-5:00pm in Atlanta, GA at the new Renaissance Atlanta Airport Gateway Hotel.

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Social Media and its Impact on Insurance Coverages

GUEST EDITORIAL

Like a double edged sword, social media can be a great way to communicate or if used irresponsibility can make you bleed headaches.  Remember, what you post on any social media site doesn’t go away….ever.

I hope recovery agents and recovery agency owners around the country will read and maybe re-read this article, because it directly affects you and your insurance coverages.  You’re probably saying that can’t be possible.  Well here is how.

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Millennium Capital and Recovery Gets an Award for Repo Agencies Income Losses

EDITORIAL

So, as you spend a half hour carefully listing and doing inventory on that motorized dumpster full of cockroaches, needles, trash and half eaten food that smells like a dead bum left in the sun to rot that used to be a car, and then hand it over FOR FREE, to the foul mouthed “consumer” who is threatening to sue you and worse, and you got paid a whopping $300 (the same as you would have gotten paid in 1990) for it, take solace! Millennium got an award for your sacrifice! Now, THAT should put a smile on your face!

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When Does and Independent Contractor Become an Employee?

Gind_cntrctruest Editorial

There is a strange phenomenon occurring in the asset recovery industry consisting of deep client involvement in the repossession process related to the control and intrusion in the actual act of the repossession.

For some reason the clients seem to be more involved with controlling the actions of the agent in the field for example the “NO CONTACT” with consumers or third parties dictates. What world do these people live in? Apparently, they have never worked an actual field assignment or they would understand that their absurd directive is an impossible demand.

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Repossession Crisis on the Horizon?

GUEST EDITORIAL

Most of us remember the repo boom in 2008-2010 when the housing market collapsed.  At that time anyone with a tow truck and a heartbeat was soliciting work from lenders to pick up their cars.  As panic set in repossessions hit all-time highs. Once the dust settled and banks began recuperating from the financial beat down of the housing market that resulted in the peak numbers of repossession, came the valley.

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2018 NorthLegal Conferences

FOR IMMEDIATE RELEASE

NorthLegal Training and Publications has announced the dates and locations for its 2018 bankruptcy and collections conferences.  Registration is now open, so if you plan on attending you can do so now using this year’s or in a few weeks using next year’s, whichever works best for your budget.

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BMW gets it Right on Fees

EDITORIAL

22 November 2017 – In a world of lenders and forwarders so scared of the CFPB and it’s view of personal property fees that they wantonly and with complete disregard to the efforts and labor involved with the process, are requiring repossession agencies to waive all fees associated with it, it is refreshing to see a lender make a business decision that is reasonable and profitable to the agent.

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