Washington, DC – 12 September 2017 – In a report published September 12th by the Consumer Financial Protection Bureau (CFPB), titled the “Supervisory Highlights, Issue 16, Summer 2017”, the CFPB released their findings from examinations of “servicers” overseeing repossession agents and how repossessions are conducted. Through that work, they identified unfair practices relating to repossessions that had been causing wrongful repossessions of borrowers who had already brought their accounts to current statues.
What is going on in the repossession industry? For years we have been pushed around, dictated to, coerced by false information, and downright bullied. But Enough is Enough!
The Council of Repossession Professionals (CORP) can no longer stand back and discuss the issues. We have to get out front and disseminate all the information we can to you, the hardworking, professional recovery agents and owners, with a belief that you can make informed decisions.
A recently released federal case in the Ninth Circuit may have a dramatic effect on the repossession business in the states of Alaska, Arizona, California, Hawaii, Idaho, Montana, Nevada, Oregon, and Washington.
Manassas, VA – 22 July 2013 – One of my favorite songs from the 1980’s is Michael Jackson’s Man in the Mirror. This was an anthem of sorts for self-help where the lyrics called upon people everywhere to take a hard look at themselves and the world and make a change.
That is exactly what this industry needs to do. For years there have been calls for unity, but unity will never come to fruition when you yourself are conflicted or are unable or unwilling to stand up for yourself. The industry is grasping desperately for anything that promises change, yet when push comes to shove very few are willing to do what needs to be done themselves.
In our second annual survey, even more of you spoke up, and what we found was sometimes similar to last year, but still often surprising. This is the first part of several releases of the survey, which covers topics such as Company Trends, Contingency Assignments, Associations, ALPR, Forwarding and Violence in the industry.