“Russ touched many lives and we will miss him. As his wife, I will be continuing with the business he loved and built up.
It is with a heavy heart that we announce the passing of Russ DeWitt of Capital Adjusters Inc. in Austin, Texas. Russ had been in the repossession industry since 1976, owning Capital Adjusters Inc. since 1989. Russ took great pride in being a Member of National Finance Adjusters, American Recovery Association and RSIG. He strived to employ the latest technologies available to the industry and had a heart and mind focus on education and training.
The National Consumer Law Center (NCLC) is proposing major changes to article 9 of the Universal Commercial Code (UCC) which would materially affect consumer lending and how repossessions are done. If states adopt this latest proposed revision of the UCC, it would dramatically change repossession and lending practices and increase the potential for law suits.
Repossession fees have been cut and cut to the point it is getting dangerous. It’s been shown time and time again, when you read these stories about repossessions gone bad, they happened when you have untrained people out there picking up cars and/or they are under undue stress to repossess that car because if they don’t, they don’t get paid—their family doesn’t eat. If you cut back fees too far, it becomes impossible for companies to do it right. Perhaps instead of trying to find more ways to save the consumer money, maybe it’s time to start to find ways to make the consumer and general public more safe by paying a higher repossession fee that allows for companies to run their businesses right and to make their repossessions safe.