In our second installment of our annual survey, we found a negative shift in the attitudes toward repossession associations and LPR. It appears as though some patience is running out with both the associations as well as the LPR providers. At the same time, the hope of unity and the value of training seem to growing.
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.
There are two basic strategies in scanning plates. Companies use one or the other or a combination of the two. The first is mainly looking for new accounts by scanning for vehicles that are in the national database of skips. In doing this, Walmart’s, extended-stay motels, large malls, shopping centers and the like are aggressively scanned hoping to find the skips and recover the car right then.
In 2011 we published the first of our “State of the Industry” surveys for both the collections and repossession industries. The response was good and over the last year, new issues have arisen that we felt worthy of bringing up such as the CFPB and its role in diligence as well as the potential of creating a trade association.
Well, It’s that time again and we need your responses.
License Plate Recognition Technology (LPR) came into being in the repossession industry in 2009. We started using this technology ourselves in 2010. Since then we’ve learned a lot and are seeing more and more companies coming into being trying to leverage this technology. What I want to do in this two-part series is explain how this technology works in the hopes of enabling you, the collector and lender, to better understand and use this technology.
PALATINE, IL – September 5, 2012 – The MVTRAC Recovery Industry Advisory Board formally announced today the implementation of new strategic policies regarding MVTRAC’s business model and associated operations. The new initiatives were the result of an extensive development and review process, then unanimously voted and later ratified into action at MVTRAC’s annual advisory board meeting.
St. Paul, MN – August 31, 2012 – While the ACLU and privacy rights advocates are already up in arms over the use and application of License Plate Recognition (LPR) data, they seem even more irate that a Minnesota buy here pay here dealer can purchase the data gathered by the police for a mere $4.
PRESS RELEASE – Manassas, VA – July 30, 2012 – National Agency Management Systems LLC (NAMS) has teamed up with a leading LPR provider to provide NAMS Users with vehicle license plate data (tag info) and LPR Data at unheard of low pricing. NAMS is an online repossession assignment and office management tool designed by top-notch software engineers with repossession experience and a development team with decades of experience in the field day in and day out. NAMS is very user friendly, secure and feature rich, now including LPR data! With NO DOWN-TIME!