November 16, 2016 – Recovery/Repossession businesses across the country recently received a letter from MBSi Corp.—telling these small business owners that they are REQUIRED to purchase and download MBSi’s newest evolution software and operating system, Recovery Connect. Failing to do this, the letter said, would discontinue the ability of the repossession company to do business with Santander Consumer USA, Inc. and Chrysler Capital. No, MBSi didn’t try to sell the use of Recovery Connect system… they DEMANDED that the system be purchased and used.
The members of Eagle Group XX have noted a phenomenon occurring in our industry and would like to address it in order to assist other asset recovery industry members in avoiding costly lawsuits, bad publicity and loss of clients.
In today’s litigious society it is not an uncommon occurrence for a professional asset recovery agency to end up named in a lawsuit instigated by a consumer when the allegations of wrongdoing relate strictly to the activities of the lender.
American Recovery Association and RISC hosts monthly continuing education webinar about latest regulations and compliance policies
American Recovery Association and RISC announce March 2013 dates for its free continuing education webinar series for recovery and remarketing professionals and lenders.
Each one-hour webinar offers education about latest recovery laws and regulations, compliance policies and industry issues. March’s program will focus on UDAAP (Unfair, Deceptive and Abusive Practices) and FDCPA (Fair Debt Collections Practices Act). This webinar is useful for gaining knowledge on how to raise the standard of your business and prepare your business for new regulations.