Rebuttal: Consolidated Asset Recovery Systems Response to Punishment over Reporting Breaches Editorial

 EDITORIAL REBUTTAL

Kevin,

Before I reply, I want to first thank you for the fine job you do. I find your site to be informative and insightful providing needed information on our industry and a platform for sharing opinions and observations.

Your article on Consolidated Asset recovery Systems is accurate but may leave some questions unanswered. I will address those later in this reply.

  Read More!

Forwarder Threatens Agencies with Punishment over Reporting Breaches

EDITORIAL

In a memo distributed on October 20th, Consolidated Asset Recovery Systems has announced their need to enforce punitive actions against agents for failure to report repossessions within the established service level agreement (SLA) timeframes. These punishments include, compliance holds, suspensions and repossession fee forfeitures.

  Read More!

Consumer Experience Surveys Required for Repo Redemptions?

EDITORIAL

October 31, 2017 – In what bizzaro universe would someone expect to receive positive feedback from a borrower redeeming their repossessed vehicle? Well, that’s the expectation being pressed upon repossession agencies working for national forwarder, Millennium Capital and Recovery Corp. on Toyota and Wells Fargo accounts.

  Read More!

Santander Extends CARS Certification Deadline

29 September 2017 – Through a memo circulated last week, it appears as though Santander has extended their deadline for CARS certification to November 1, 2017 from its prior deadline of October 1st. The memo states that a formal notice of this is pending from Santander themselves. Included in the memo is a request to identify agencies who have refused to comply the certification mandate for the purposes of identifying gaps in coverage.

  Read More!

CFPB Faults Forwarders for Wrongful Repossessions

Washington, DC – 12 September 2017 – In a report published September 12th by the Consumer Financial Protection Bureau (CFPB), titled the “Supervisory Highlights, Issue 16, Summer 2017”, the CFPB released their findings from examinations of “servicers” overseeing repossession agents and how repossessions are conducted. Through that work, they identified unfair practices relating to repossessions that had been causing wrongful repossessions of borrowers who had already brought their accounts to current statues.

   Read More!

Enough is Enough

EDITORIAL

What is going on in the repossession industry?  For years we have been pushed around, dictated to, coerced by false information, and downright bullied.  But Enough is Enough!

The Council of Repossession Professionals (CORP) can no longer stand back and discuss the issues.  We have to get out front and disseminate all the information we can to you, the hardworking, professional recovery agents and owners, with a belief that you can make informed decisions.

  Read More!

Are You the Flavor of the Month?

IC_FOTMGuest Editorial

Are you being contacted by clients you have not heard from in years, or even clients you have never heard of?  There seems to be a scurry of inquiries about our services all around the nation lately.  Could this mean clients are becoming disenchanted with the forwarding model that took over not so long ago?  Have lenders finally figured out that with all the forwarding companies out there, regardless of which one they choose, they are still getting the same sub-standard cheap agents over and over again?

So let’s look at some of the different flavors:

  Read More!

PAR’s Appeal to Michigan Courts Collection Agency Status Ruling Falls Flat

GODZLLA_DEADLansing, MI – November 18, 2015 – The ongoing legal wrangling over PAR North America’s attempts to carve themselves out of the Michigan Licensing and Regulatory Affairs (LARA) ruling from March 2015, continues. Transcripts of their November 18th appeal hearing reveal a failed attempt on their part to have themselves removed from being defined as a collection agency in order to avoid punitive damages and administrative and auditory control by the LARA.

 

  Read More!

Skip to toolbar