What Happens When the Professional Repossession Industry Dies?

EDITORIAL

Well, this isn’t likely to help in my job hunt in lending and collections, but I’ve got to get it off my chest.

A friend of mine who works in a repossession related business, recently had a meeting with a leader of a large financial organization who assigns their work through a large forwarding company. Their conversation turned to fees and my friend brought up the fact that many repossession agencies are closing due to decades long stagnant fees created by the forwarding model. The leader of this organizations indifferently said, “that’s their problem.”

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