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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This Subprime Auto Lender Repos 35 Percent of the Cars It Finances

Subprime auto lending has faced intense regulatory scrutiny over the past year, and one name that’s consistently part of that focus is Credit Acceptance, a Michigan-based lender that’s known as the pioneer of financing vehicles for people with shaky credit. Here’s a fact I learned about Credit Acceptance today: every year, it expects to repossess 35 percent of the cars it finances.

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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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Registration is Now Open for the 2018 Joint AFA and RSIG Conference on Repossession Education, Training and Networking!

The conference will be hosted June 19 -21, 2018 at the Galt House Hotel in Louisville, Kentucky (Airport code: SDF, when making flight arrangements).  Known for the Kentucky Derby, BlueGrass Music, Mint Julips and Bourbon Distilleries, the beautiful city of Louisville will play host to repossessors from far and wide who come together for this incredible annual event.  The Galt House is Louisville’s Waterfront Hotel on the Ohio River; walking distance from the Louisville Slugger Museum & Bat Factory, The Muhammad Ali Center, Belevdere Park and much more.  We have negotiated a discounted room rate of $169 for spacious executive suites and $139 for deluxe rooms.

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The BIG Question in Illinois

EDITORIAL

The BIG question in Illinois seems to be where is the IRA headed? Well, I have some answers for you!

Recently, I had the opportunity to hold my first IRA meeting as the new president and several decisions were made as a result. The purpose of this article is to provide an update on the reformation of the IRA.

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Do You Really Need Those Cyber Liability/Computer Crime and Employee Dishonesty Insurance Policies or is it Just Hype by the Lenders?

Read the following article taken this week from, The Washington Post, and imagine if you will, that  Mr. Thompson in this article was in fact, your employee who gave NPI data to a third party.

2nd man charged in harassing of officer

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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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Double Assignments = Deadly Assignments

EDITORIAL

For whatever reasons, the practice of double assigning repossessions keeps rearing its ugly head. The causes range from; a collector receiving a new address in another area or the collector or vendor management staff feel that the assigned agency isn’t working the account or just good old fashioned brain cramps causing the collector to forget to close the assignment. Any way you look at it, it’s a bad practice and a deadly one.

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Caught on Video – Repo Man Breaks Into Garage

Flint, MI – 5 February 2018 – On May 13, 2017, an unnamed borrower caught a repossessor, allegedly from Michigan Recovery Services, breaking into their garage and then towing the vehicle from the garage for lender, Elga Credit Union of Burton, MI. In the borrowers mind, two wrongs make a right and they stole it back from the credit union, right off their lot.

  Read More and Watch the Video!

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