Remembering Back When – Repossessing in the 60’s

….A long, long time ago

Guest Editorial

In looking at our industry as it is today I began to compare it to what it was like some 50 years ago.  The changes are huge and so I thought maybe it might be interesting to reminisce by putting those changes in an article.  Some of the “old timers” (I mean really, really old timers) will relate to those times and those who were not there back then may enjoy reading about them.  This article is all factual and is based completely from my personal experiences when I came into the industry in the 1960’s.

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NCUCA Las Vegas 2017 is a Hit!

PRESS RELEASE

Los Angeles – 24 March 2017 – On March 15–17, 2017, the 3rd Annual National Credit Union Collections Alliance (NCUCA) was held at the Bellagio in Las Vegas and was attended by over 230 attendees from 130 credit unions and 26 states.  Of these attendees, 95% are in collections management. This upstart event has grown exponentially year over year and is now the premier collections event for the credit union collections industry.

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Developing World-Class Debt Collectors Collection Education Scholarships Available

FOR IMMEDIATE RELEASE

Wyoming, MN – March 7, 2017 – 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 seventh 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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Supreme Court to Review Santander FDCPA Lawsuit

supreme_crtWashington, DC – 13 January 2017 – The U.S. Supreme Court on Friday agreed to decide whether firms collecting on debt they bought for pennies on the dollar can be held liable in lawsuits brought by debtors they targeted under a federal law cracking down on debt collectors’ abusive practices. The justices agreed to review a lower court’s decision to dismiss a consumer class action lawsuit against Santander Consumer USA Holdings Inc. (SC.N) over allegations it violated the Fair Debt Collection Practices Act.

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Helping Credit Union Collection Departments Succeed with Educational Sessions & Open Floor Discussions

cu_rcvry_montageFOR IMMEDIATE RELEASE

Wyoming, MN – November 16, 2016 – CU Recovery’s 2016 Collection Academy was another successful exchange of ideas on how credit unions can increase effectiveness in their collection departments.  The sold-out crowd included participants from credit unions from around the country. Many sent several people to take advantage of the rich content found in 4 separate sessions and in open floor discussions with their peers.  Wendy Elieff, Vice President of Sales & Service, facilitated the 2 ½ day conference.  According to Elieff, the purpose of the conference was to “to share the wealth of knowledge that each credit union brings and with timely topics presented by experts in their respective fields.”  “Valuable time was spent exchanging ideas with peers and meeting the experts who conducted the sessions.” Wendy continued.

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An Open Letter to Santander Consumer USA, Chrysler Capital and MBSi Corp.:

rc2FOR IMMEDIATE RELEASE

November 16, 2016 – Recovery/Repossession businesses across the country recently received a letter from MBSi Corp.—telling these small business owners that they are REQUIRED to purchase and download MBSi’s newest evolution software and operating system, Recovery Connect. Failing to do this, the letter said, would discontinue the ability of the repossession company to do business with Santander Consumer USA, Inc. and Chrysler Capital.  No, MBSi didn’t try to sell the use of Recovery Connect system… they DEMANDED that the system be purchased and used.

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National Credit Union Collections Alliance (NCUCA) 2017 Conference

ncuca_logo2lv_ncuca_2017

FOR IMMEDIATE RELEASE

DALLAS, Texas – November 14, 2016 – Registration has started for the 3rd annual National Credit Union Collections Alliance (NCUCA) for 2017. We are excited to see the lineup that we will have available and the topics that will be discussed. We will be kicking off our conference with Dan Berger NAFCU as a keynote speaker and finish the next day with Eric North discussing collection laws and bankruptcy.

The conference will be held at the Bellagio Resort in Las Vegas, Nevada, March 15 – 17, 2017. Last year we had attendees from all across the country, and this year we expect to have a larger participation. The conference focuses on national concerns and policy changes regarding the collection department for credit unions. It is a great time to network with credit unions across the country and to visit with some of the vendors that can assist credit unions.

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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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Appeals Court Rules CFPB Structure Unconstitutional

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Federal three-judge panel rules CFPB’s structure is unconstitutional but rejects idea of shutting down agency

A federal appeals court delivered a strong rebuke to the government’s new consumer-finance watchdog, declaring the agency’s unusual independence to be unconstitutional, and ordering its powers be curbed.

The Tuesday ruling was the latest legal setback to the Obama administration’s post-crisis financial-regulatory regime.

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Chris Becker Promoted to COO

c_beckerCU Recovery & the Loan Service Center Expansion Continues

FOR IMMEDIATE RELEASE

WYOMING, MN – September 13, 2016 – Double digit growth over the last year has prompted CU Recovery and The Loan Service Center to add an additional layer of executive management. The newly created Chief Operating Officer position will help to ensure the companies continue on a path of healthy growth while maintaining their role as the #1 resource for credit union collection departments.

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