Santander Collecting Storage, But Repo Agencies Can’t?

To quote someone who may desire to remain anonymous, “Let This Sink in…”

Perhaps I’m a little late on this, but a copy of a borrower notice of intent letter from Santander/Chrysler to an unnamed borrower has surfaced showing Santander charging $25 a day storage while forcing their repossession agents, direct and via Forwarder, to waive the fees. This is almost too bizarre to be true.

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This Subprime Auto Lender Repos 35 Percent of the Cars It Finances

Subprime auto lending has faced intense regulatory scrutiny over the past year, and one name that’s consistently part of that focus is Credit Acceptance, a Michigan-based lender that’s known as the pioneer of financing vehicles for people with shaky credit. Here’s a fact I learned about Credit Acceptance today: every year, it expects to repossess 35 percent of the cars it finances.

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2018 Illinois Repossessors Meet & Greet

Sponsored by Worldwide Equipment Sales

The Illinois Recovery Association would like to invite all the Illinois repossession companies to our meet & greet event being held on March 28th 2018 @ 6PM

SYLS RESTARANT 829 MOEN AVE ROCKDALE IL 60436

DINNER & DRINKS @ 6PM

You must RSVP by 3/16/18 by contacting

Jon Jendral IRA Pres 708-296-5004

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Developing World-Class Debt Collectors Collection Education Scholarships Available

FOR IMMEDIATE RELEASE

Wyoming, MN – February 20, 2018 – Keeping debt collectors up-to-date with fundamental resources and regulatory changes is one secret of a successful collection department.  With changes to the industry coming from every direction, it can be a challenge to keep staff informed.  Now in its eighth year, the CU Recovery Collection Academy educational conference represents a debt recovery strategy geared specifically toward reducing credit union delinquency.  CU Recovery shares its 25+ years of experience by presenting collection best practices, offering peer-to-peer networking opportunities, and speakers covering topics important to day-to-day operations.  The 2.5 day Academy curriculum is formulated from attendee feedback on topics that are essential to the health and success of credit union collection departments.

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Registration is Now Open for the 2018 Joint AFA and RSIG Conference on Repossession Education, Training and Networking!

The conference will be hosted June 19 -21, 2018 at the Galt House Hotel in Louisville, Kentucky (Airport code: SDF, when making flight arrangements).  Known for the Kentucky Derby, BlueGrass Music, Mint Julips and Bourbon Distilleries, the beautiful city of Louisville will play host to repossessors from far and wide who come together for this incredible annual event.  The Galt House is Louisville’s Waterfront Hotel on the Ohio River; walking distance from the Louisville Slugger Museum & Bat Factory, The Muhammad Ali Center, Belevdere Park and much more.  We have negotiated a discounted room rate of $169 for spacious executive suites and $139 for deluxe rooms.

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Memphis Gang Member Gets Prison for Armed Encounter with Repo Men

Little Rock, AR – 16 February 2018 – Cody Hiland, United States Attorney for the Eastern District of Arkansas, and Jeffrey Reed, Resident Agent in Charge of the Bureau of Alcohol, Tobacco, Firearms & Explosives (ATF), announce that late Thursday multi-convicted felon Marvin Meux, 45, of West Memphis, was sentenced to 210 months in federal prison for his illegal possession of a firearm after his armed encounter with two Repo Men in 2015.

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The True Cost of Free Storage

GUEST EDITORIAL

Repossession company owners hear this phrase every time they court a new client, “how many free days of storage do you offer?” or some variation.  For most of us this question is answered begrudgingly and usually begins the standard back and forth of negotiation.  Often this leads to at the very least relinquishing any fees for storage for a certain amount of days to this new client, and as a result the owner gave away his highest profit item in the hopes of earning more work.

Now some of you reading this are rolling your eyes and saying to yourself “here comes another lecture about giving our services away”.  No, I won’t do that because I am just as guilty as you are and have the same conversation with every new client and current client for that matter every time we discuss fees.

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Convicted Felon Fires Shots at Repo Man

Memphis, TN – 14 February 2018 – A convicted felon is once again behind bars after being accused of opening fire on a repo man. The incident happened Tuesday in the 4500 block of Lawrence Avenue. A Tri-State repossession employee was reportedly picking up a silver Ford Mustang in the neighborhood when the suspect, Mack Benton, fired multiple times using both a Mossberg .22 pistol and a burgundy semi auto 9 mm pistol.

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The BIG Question in Illinois

EDITORIAL

The BIG question in Illinois seems to be where is the IRA headed? Well, I have some answers for you!

Recently, I had the opportunity to hold my first IRA meeting as the new president and several decisions were made as a result. The purpose of this article is to provide an update on the reformation of the IRA.

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