Thank You from CU Repo and Remarketing Summit 2017. See you at NARS 2018 in April!!

FOR IMMEDIATE RELEASE

10 November 2017 – It was a beautiful day in Cinnaminson, New Jersey as dozens of credit union collections managers and collectors gathered at the Riverton Country Club for the first ever Credit Union Repossession and Remarketing Summit 2017.

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Cordray Resigns from the CFPB, Now What?

Treasury Secretary Steven Mnuchin

Washington, DC – 15 November 2017 – Richard Cordray, the Director of the Consumer Financial Protection Bureau (“CFPB”), announced Wednesday that he plans to step down from that post by the end of the month. Cordray’s term was otherwise set to expire in July of 2018.

So, what does this mean for the collections and repossession world?

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Analyzing and Objecting To Chapter 13 Plans under the New Bankruptcy Rules

This Thursday, October 19, 2017

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

Are you ready for the Chapter 13 bankruptcy plan and plan objection rules changes that will take effect on December 1?  These changes include a new official “Chapter 13 Plan” that will be used by most courts, new deadlines, and new rules that will affect the rights of creditors (particularly secured creditors) after plans are confirmed.  (These changes are separate from and in additon to the changes affecting proofs of claim, which were discussed in a NorthLegal webinar last month.)

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Credit Acceptance Issued Subpoena over Collections Practices, Again

Credit Acceptance has confirmed with the Securities and Exchange Commission (SEC) that it had received a subpoena from the Mississippi attorney general on August 14, 2017. Credit Acceptance claims that the subpoena is only related to the origination and collection of non-prime vehicle installment contracts in the state of Mississippi.

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Dumpster Diving – Personal Property Fees

Editorial

Cockroaches scurry for cover under the seats as you open the door of the car that was just repossessed earlier that morning. The sun has been up for a few hours and the car’s interior has fermented it’s contents that greet you with a sour rotting smell. Rubber gloves on and trash bag in hand, you begin the inventory of a half-eaten “Egg MCMuffin”, dirty diapers, assorted papers, shirts and a lot of items belonging to the borrower that makes you wonder why is all of this in their vehicle? This is, no doubt, sometimes the most unpleasant part of the repossession process.

So, why do you do it? You have to! It’s the law. As a legal compromise, the law also allows you to charge for the removal, inventory and storage of this property. So, why would you not charge for this?

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Analyzing And Objecting To Chapter 13 Plans Under The New Bankruptcy Rules

Thursday, October 19, 2017

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

 

In less than two months, important changes relating to Chapter 13 bankruptcy plans and plan objections will take effect.  These changes include a new official “Chapter 13 Plan” that will be used by most courts, new deadlines, and new rules that will affect the rights of creditors (particularly secured creditors) after plans are confirmed.  (These changes are separate from the changes affecting proofs of claim, which were discussed in a NorthLegal webinar last month.)

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Important Bankruptcy Rule Changes – Live Webinar!

FOR IMMEDIATE RELEASE

Don’t forget that we will be presenting a webinar this coming Thursday, September 28, to address the new bankruptcy “proof of claim” rules that will take effect later this year.  During the program we will also talk about other aspects of the claim process, including some of the most frequently made errors.  For more detail about the webinar, click here.

On December 1, 2017, important changes to the rules relating to bankruptcy “proofs of claim” will take effect. Those changes include new filing deadlines, new obligations for secured creditors and new methods a debtor may use to oppose a claim.

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2017 Credit Union Repossession and Remarketing Summit

November 8 – November 10, 2017

Riverton Country Club

Cinnaminson, New Jersey

FOR IMMEDIATE RELEASE

The Credit Union Repossession and Remarketing Summit 2017 will be the premier credit union educational event of the year. Industry leaders will be speaking on the topics that are of extremely high importance to the Credit Union collections industry. Situated just minutes from city center Philadelphia at the historic and scenic Riverton Country Club, this seminar will be tailored to address credit unions specifically, and the day-to-day challenges they face with collections, collateral repossessions, and the remarketing of collateral. You are guaranteed to walk away with insight and knowledge you previously did not previously have, or your admission will be refunded.

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Requiring Lender’s Locksmiths Lot Access – Another Encroachment and Contradiction

Editorial

So, you have a fence around your storage yard, perhaps some barbed wire on top and cameras recording everything going on. Why? Security of course. As an agency owner, it is crucial that you secure your business and the recovered collateral. So, why would you give a person you don’t know access to your yard and the vehicles stored on it?

Well, that’s the newest infringement on repossession agencies that is occurring now.

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STOP Manufacturer Licensed Repossession Exemptions!

AB 290 Exemption from Collateral Recovery Act [Oppose]

Please help us stop AB 290 from passing! This bill will could affect recovery agents nationwide! All states look at California to adapt new laws. If AB 290 passes it would allow companies like John Deere to be exempt from using repossession agencies.

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