Cobb County, GA – March 26, 2012 – Kids, don’t try this at home! When the irate borrower of truck being repossessed tried to run over the Repo Man, he did the logical thing. He hopped into the bed so he could be taken for a wild joyride at the hands of the frantic woman.
Dallas, TX – Mach 22, 2012 – I had just checked in at the Omni Mandalay in Las Colinas for the North American Repossessors Summit (NARS) when I received an email. The Huffington Post had just published an article about the state of the repossession industry titled “Repos Gone Bad: Are Big Lenders To Blame for Driveway Violence?” Having been one of many interviewed by Dave Jamieson, I confess some apprehension in what was to be published. Upon reading it several times, I felt that for the most, he got it right.
Memphis, TN – March 19,2012 – The tearful testimony of the sister of a man killed during a repo attempt last year and the expert testimony of repo industry veteran Ray Crocker have apparently been convincing enough that the proposed Tennessee Repo Regulations bill is expected to go to vote this week.
Police officers received multiple calls from 9-1-1 around 6:30 p.m. regarding four men fighting in the middle of the road on and that a gun had been fired.
Hillsboro, TX, March 4, 2012 – Hill County Sheriff’s Office made a felony arrest on the evening of Sunday, March 4 after receiving a 9-1-1 call at 10:47 p.m. advising that a repossession attempt on a vehicle had turned violent.
To the outside world, collections looks pretty simple, call people and guilt and threaten them into paying money they owe. The reality is, collections is perhaps the most complicated and litigious area of any lending institution. Think of all of the interconnecting regulations pertaining to bankruptcy, credit reporting, the FDCPA, the UCC, California’s Reese Levering Act and the archaic FTC rules on telemarketing and they’ll see just how simple it really is.
Amazingly, most of us dance through this legal minefield daily with no trouble at all. Regardless, it is always wise to put on our “thinking caps” from time to time and keep the thought processes of both ourselves and our staff sharp.
West Bloomfield Township, MI – February 23, 2012 – After a borrower refused to surrender their vehicle to him, a Michigan Repo Man’s frustration boiled over last Thursday. In a fit, Adam Lankin, 35 years old, allegedly decided that it was appropriate for him to draw and discharge a gun.