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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Thank You from CU Repo and Remarketing Summit 2017. See you at NARS 2018 in April!!

FOR IMMEDIATE RELEASE

10 November 2017 – It was a beautiful day in Cinnaminson, New Jersey as dozens of credit union collections managers and collectors gathered at the Riverton Country Club for the first ever Credit Union Repossession and Remarketing Summit 2017.

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Cordray Resigns from the CFPB, Now What?

Treasury Secretary Steven Mnuchin

Washington, DC – 15 November 2017 – Richard Cordray, the Director of the Consumer Financial Protection Bureau (“CFPB”), announced Wednesday that he plans to step down from that post by the end of the month. Cordray’s term was otherwise set to expire in July of 2018.

So, what does this mean for the collections and repossession world?

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More Rooms Added for The 2017 Credit Union Repossession and Remarketing Summit

November 8 – November 10, 2017

Riverton Country Club

Cinnaminson, New Jersey

 

FOR IMMEDIATE RELEASE

27 October 2017 – Due to the early sell out of discount block rooms for The Credit Union Repossession and Remarketing Summit 2017, 20 more room at the DoubleTree, Hilton, have been added and, the block rate has been extended to November 1st. These will book up quick, so be sure to reserve your rooms now.

The Credit Union Repossession and Remarketing Summit 2017 will be the premier credit union educational event of the year. Industry leaders will be speaking on the topics that are of extremely high importance to the Credit Union collections industry.

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Allied Finance Adjusters’ Response to Santander’s Tilt of the Playing Field for Certification and Continuing Education

Guest Editorial

October 10, 2017 – The year was 2006: the first internet account management software was introduced into the repossession industry. Since that time, the purveyors of different electronic account management systems have been in an all-out economic “war” to corner the market on connecting lenders with repossessors through their own proprietary software systems.

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The Credit Union Repossession and Remarketing Summit 2017

November 8 – November 10, 2017

Riverton Country Club

Cinnaminson, New Jersey

The Credit Union Repossession and Remarketing Summit 2017 will be THE premier credit union educational event of the year. Industry leaders will be speaking on the topics that are of extremely high importance to the Credit Union collections industry.

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Credit Acceptance Issued Subpoena over Collections Practices, Again

Credit Acceptance has confirmed with the Securities and Exchange Commission (SEC) that it had received a subpoena from the Mississippi attorney general on August 14, 2017. Credit Acceptance claims that the subpoena is only related to the origination and collection of non-prime vehicle installment contracts in the state of Mississippi.

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Dumpster Diving – Personal Property Fees

Editorial

Cockroaches scurry for cover under the seats as you open the door of the car that was just repossessed earlier that morning. The sun has been up for a few hours and the car’s interior has fermented it’s contents that greet you with a sour rotting smell. Rubber gloves on and trash bag in hand, you begin the inventory of a half-eaten “Egg MCMuffin”, dirty diapers, assorted papers, shirts and a lot of items belonging to the borrower that makes you wonder why is all of this in their vehicle? This is, no doubt, sometimes the most unpleasant part of the repossession process.

So, why do you do it? You have to! It’s the law. As a legal compromise, the law also allows you to charge for the removal, inventory and storage of this property. So, why would you not charge for this?

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Recovery Industry Fuels All-Time Growth for RISC’s Compliance Certification Program

Nationwide focus on compliance standards leads recovery industry professionals to RISC’s standardized compliance training

FOR IMMEDIATE RELEASE

TAMPA, FL 10/04/2017 – Recovery Industry Services Company (RISC) announces unprecedented growth and adoption of its industry leading Certified Asset Recovery Specialist (CARS) and CARS-FC certification program. For more than 10 years, RISC has lead the way in recovery agent training with its CARS program which has certified more than 10,000 individuals since it was launched in 2002. With an ever increasing focus on compliance, lenders, forwarders and repossession professionals have sought standardized training programs and reporting to internal and 3rd party auditors, such as the CFPB.

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