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.

  Read More!

Lenders Creating Headaches on RDN

GUEST EDITORIAL

According to some repossession agencies, recently, some lenders are making direct address changes in the Recovery Database Network (RDN), that are creating safety and efficiency issues. The majority of lenders follow the standard protocol of putting in an update for a new address, but several have recently been just adding the address without a note or call.  The other issue is that there is no history in the “History” tab of RDN showing these changes.

  Read More!

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.

  Read More!

CU Recovery & The Loan Service Center Building Expansion More Room, More Collectors, Better Service

FOR IMMEDIATE RELEASE

WYOMING, MN; December 14, 2017.   CU Recovery, Inc. and The Loan Service Center have been in an active growth pattern for the last 7 years, with double digit growth during the last 18 months. Adding over 115 new clients necessitated a 24% growth in CUR/TLSC collectors resulting in a building expansion project, completed earlier this month.

  Read More!

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.

  Read More!

Florida Creditor Seminar: Repossession Best Practices

Florida Auto Lending Creditors:

Best Repossession Client/Vendor Relationship Practices

Working With Your Repossessor For Greater Success

Thursday January 18, 2018 

 1-4pm (With Reception Afterwards)

Daytona Shores Resort

Daytona Beach Shores, Florida

Seminar is Free for Florida Creditors and TFA Members.

  Read More!

NY Fed: Auto Loan Delinquencies Rising in the “Sub-Prime” Market

New York, NY – 21 November 2017 – The growth in household debt can be attributed, at least in part, to the growth in auto loan balances, which have increased for 26 consecutive quarters as a result of new loan originations. In the aggregate, there are apprx. $435 billion worth of auto loans outstanding that were made to consumers with a credit score below 660.

  Read More!

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.

  Read More!

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?

  Read More!

Skip to toolbar