CA Repossessions Open Forum / Completing Forms

Coming Next Thursday, June 21, 2012


10:00 a.m. PDT, 11:00 MDT, 12:00 CDT, 1:00 EDT (Duration: Approximately 90-120 minutes)

Knowing California’s complicated repossession rules and having good forms forms won’t help if you are unsure how to correctly apply the rules or complete the forms. 

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CFPB to Hold Lenders Responsible for Third Party Actions

Washington, DC – May 10, 2012 – Vendor due diligence and lender responsibility for the actions of third parties used by their contractors was highlighted In an announcement made last month by the Consumer Financial Protection Bureau (CFPB). This statement confirms the course of action that may be utilized by the CFPB to regulate the repossession industry as well as all lending service providers.

“April 13, 2012 – The Consumer Financial Protection Bureau (CFPB) today released a bulletin clarifying that financial institutions under Bureau supervision may be held responsible for the actions of the companies with which they contract. The Bureau will take a close look at service providers’ interactions with consumers. It will hold all appropriate companies accountable when legal violations occur. 

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Con Man Sentenced for Straw Purchase Scam on Navy Federal Credit Union

Rocky Mount , NC – May 7, 2012 – A federal judge has sentenced a used car salesman to seven years in prison for defrauding $1.2M in auto loans from Navy Federal Credit Union.

According to the charges, 39 year old Jady Brooks, working in Rocky Mount, N.C., recruited straw buyers to obtain loans from the $48 billion credit union for cars that did not exist.

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Six Sentenced in Auto Loan Fraud Ring

Charleston, SC – May 3, 2012 – Officials with the U.S. Attorney’s Office have sentenced six South Carolinians to prison for their roles in an auto loan fraud scheme that caused a reported $800K in losses.

The U.S. Attorney’s Office reports that the defendants were convicted for their roles in a scheme to fraudulently obtain auto loans by providing false documentation to over 16 different banks and credit unions.

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Former Sheriff Deputy’s Lawsuit Against Repo Company and Toyota Motor Credit

Adrian, MI – April 25, 2012 – On Monday in Lenawee County Circuit Court, a former sheriff deputy’s lawsuit against a repo man he blames for his firing was scheduled for trial in September next year during a hearing Monday. Toyota Motor Credit was also named claiming the repossession order from Toyota Motor Credit Corp. was improper. If held responsible, TMCC could be held responsible in court. The Repo owners insurance will not defense the claim.

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Collecting in a High Tech World

New Webinar Thursday, May 3, 2012


10:00 a.m. PDT, 11:00 MDT, 12:00 CDT, 1:00 EDT (Duration: Approximately 90 minutes)

It’s a new world out there.

Many collection laws were written when people communicated by telephone or by U.S. Postal mail. When the Fair Debt Collection Practices Act was enacted in 1978, few people had answering machines and many were still using rotary dial telephones. Cell phones were bigger than bricks when the Telephone Communications Act became law in 1986.

Today, collectors have a variety of ways to communicate with borrowers. Telephone. Cell phone. Fax. Email. Text message. Social media.

But with new tools, come new questions. May you call a borrower’s cell phone? May you leave a voice mail? Does it matter if the voice mail is on the borrower’s home telephone or the borrower’s cell phone? How about the borrower’s work phone? Does it matter if you are returning the borrower’s call from that phone?

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TX Detectives Force Repo Man to Return Detectives Wife’s Truck at Gunpoint

Houston, TX – April 11, 2012 – “I’m trying to make an honest living,” said Repo Man Brenton Huff. “I shouldn’t have to worry about being shot, especially by police.” But that’s what almost happened when he spotted a 2007 Chevy Silverado four months down on payments in Conroe, TX on March 15th.

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FTC Files Charges against “Repo Avoidance” Company

Washington, DC – April 4, 2012 –  Two California based auto debt consulting company has had charges filed against it for alleged promises to reduce payments and consulting borrowers to “hide their cars to avoid repossession.”

In an Federal Trade Commission (FTC) release, the Federal Trade Commission filed charges and requested that a U.S. district court put a stop to the allegedly deceptive tactics of two California-based auto loan modification operations. The FTC asserted that the two separate operations charged hundreds of dollars in up-front fees, based on bogus promises that they could reduce consumers’ monthly car loan payments and help avoid repossession of their vehicles.

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