Repo Agencies in Hurricane Path Report Lenders Not Allowing Vehicles to be Transported – Important Information for Lenders & Forwarders!

EDITORIAL

It has been brought to the attention of several repossession association Presidents, that there are Lenders out there that appear to be obstructing the release and transport of vehicles from the lots of repossession agencies in the path of Hurricane Irma while also requesting more cars be repossessed up to the last minute. We know who you are, and at this point we are hoping that this is merely a misunderstanding and not an obvious attempt to force insurance losses on any repossession agency instead of your own insurance coverage.

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Is It OK to Repo if there’s a Mandatory Evacuation?

From the desk of: Recovery Specialist Insurance Group

Ahead of Hurricane Irma, currently a Category 5 Hurricane in the Atlantic, Florida Governor Rick Scott has declared a state of emergency for the entire state.  Hurricane Harvey barrelled down on the Gulf coast last week and dumped significant rains throughout the Gulf States, many governments declared states of emergency and had mandatory evacuation notices in place for the safety of their local businesses and residents. But what does this mean for repossessions in those areas?

In our opinion, there are 3 important things to think about here…

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Hurricane Harvey – Repossessors Bringing Help

The flood waters are started to recede and many are returning to their homes and businesses which have been destroyed by this catastrophic disaster. The Houston and Southern Texas areas devastated by Hurricane Harvey have brought out the best in many Americans including the repossession industry. With no prompting and little fanfare, repossession agencies from across the country are on their way, and some are already there to providing assistance and supplies to help the people in the flood affected areas.

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