October 10, 2017 – The year was 2006: the first internet account management software was introduced into the repossession industry. Since that time, the purveyors of different electronic account management systems have been in an all-out economic “war” to corner the market on connecting lenders with repossessors through their own proprietary software systems.
November 8 – November 10, 2017
Riverton Country Club
Cinnaminson, New Jersey
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.
FOR IMMEDIATE RELEASE
IRVING, Texas – October 11, 2017 – Registration for North American Repossessors Summit (NARS) 2018, an annual 2-day conference hosted by American Recovery Association, Inc. (ARA) and headlined by Harding Brooks Insurance, is now open and early bird pricing is available.
The theme for NARS 2018 is: “Stronger Together: Celebrating 10 years of leadership, education and unity.” According to Dave Kennedy, president of American Recovery Association, “NARS began in a fragmented industry, and although initially people were hesitant to participate, over the past 10 years it has become the number one industry event of the year.
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.
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?
Bartow County, GA – 6 October 2017 – A repossessor was shot at on Tuesday while repossessing a vehicle around 9:40 p.m. According to a police report, a Bartow County Sheriff’s officer was dispatched to 36 Pine Ridge Road in White after receiving a call about shots being fired.
Joliet, IL – 4 October 2017 – A 40-year-old man in Wilmington finds himself facing a pair of felony charges at the Will County Courthouse in downtown Joliet in connection with an unusual crime. Robert A. Brown, 100 block of Parker Court, was arrested last week and charged with intimidation and criminal damage to property. According to court documents, Brown threatened to harm a man who came to repossess a vehicle.
Nationwide focus on compliance standards leads recovery industry professionals to RISC’s standardized compliance training
FOR IMMEDIATE RELEASE
TAMPA, FL 10/04/2017 – Recovery Industry Services Company (RISC) announces unprecedented growth and adoption of its industry leading Certified Asset Recovery Specialist (CARS) and CARS-FC certification program. For more than 10 years, RISC has lead the way in recovery agent training with its CARS program which has certified more than 10,000 individuals since it was launched in 2002. With an ever increasing focus on compliance, lenders, forwarders and repossession professionals have sought standardized training programs and reporting to internal and 3rd party auditors, such as the CFPB.
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.
Alexander City, AL – 28 September 2017 – The repossessor accused of injuring a woman during a repossession in Alexander City, Alabama has been identified as an ex-convict who served 25 years in prison after being convicted of murder, armed robbery and escape. He again faces felony charges.