In an Amazing Show of Support, Attendance from Every Related Industry Has made their Presence Known

MORTON, IL – Better late than never. The State of Illinois Commerce Commission has released to The Illinois Recovery Association (IRA) the required forms for repossession agencies and employees to submit for the required deadline of July 1, 2012.

Although the forms are not yet available on the State of Illinois Commerce Commission website, the can be accessed at that of the IRA.

 

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IL Repo Companies Almost Ready to Comply with New Repo Law, but the State Isn’t

Springfield, IL – June 18, 2012 – Ok, everyone in the Illinois repossession industry is getting ready for the launch of the new Illinois Repossession Laws, but unfortunately, The Illinois Commerce Commission, who will be enforcing the regulations isn’t quite ready. Their lack of forms and information is creating some frustration.

The new law was created to regulate repossession companies in Illinois is supposed to go into effect July 1, but there are some Repo Company Owners who are a little concerned about the new requirements.

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Illinois Recovery Association (IRA) to Host IRA 2012: Operation Collaboration

MORTON, IL –The Illinois Recovery Association (IRA), founded in 2001, is pleased to formally announce today their 11th Annual Convention hailed as IRA 2012: Operation Collaboration. The conference will take place in Rosemont, Illinois at the Hyatt Regency O’Hare on July 17-18, 2012.

IRA Executives were quick to develop the open-source agenda designed to bring industry leaders together to collaborate with the State of Illinois on the new Collateral Recovery Act, a law that will take effect beginning July 1st, 2012. In attendance from the State of Illinois will be Steve Matrisch, Acting Bureau Chief of the Illinois Commerce Commission. Additionally Commander Baner of the Illinois Commerce Commission Police, whose chief responsibility will be enforcing the Collateral Recovery Act and managing all of its police officers, will be in attendance.

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CA Repossessions Open Forum / Completing Forms

Coming Next Thursday, June 21, 2012

CALIFORNIA REPOSSESSIONS OPEN FORUM
and
PROPERLY COMPLETING NORTHLEGAL REPOSSESSION FORMS

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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Collecting in a High Tech World

New Webinar Thursday, May 3, 2012

COLLECTING IN A HIGH TECH WORLD

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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Bill Threatens to Outlaw ALPR in California

Sacramento, CA – March 22, 2012 – If California State Senator Joe Simitian (D- Palo Alto) has his way, ALPR data will only be allowed to be retained for  60 days by law enforcement and will not be made available to anyone except law enforcement in the state of California. The bill is set for hearing on March 27, 2012. The impact of this could cost repossession companies statewide hundreds of thousands of dollars in worthless camera gear if passed.

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AFA Hosting Free Repossession Seminars!

SAVE THE DATES!

These might be the most important events you attend in 2012!

Allied Finance Adjusters is pleased to announce it will be presenting two programs for lending institutions in 2012, in association with Eric M. North of NorthLegal Training and Publications. Mr. North is an attorney and nationally-recognized speaker with more than 30 years experience handling repossession-related issues for consumer lending institutions.

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