FOR IMMEDIATE RELEASE
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.
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Great Article. Just to shed some light on this. From what I understand is Santander is looking to connect directly with the agent in the field and bypass third parties like Forwarders so they can get reported repossessions much faster. That sounds great but the way they are doing it is wrong. The MBSI app lacks what an agent needs. MBSI is not known to take care of the repo company so who knows if they will continue to update the app.
What the industry needs is a central repository for companies like Clearplan, MBSI, RDN, MRS and RMP as well as other companies to push/pull data so Repo Companies can use any system they want.
Working in all these different systems to run your business is crazy.
I’m not sure who actually wrote this piece but I applaud you! I’d like to hear from you and I am easily found. There is one part of your letter that is not totally accurate and that is the part that the clients don’t get.
” But if some other authority figure on a given account is advising the employee to do “the wrong thing”, and the employer is not in the loop to advise about the local regulations, the employee could easily act in accordance with Client instructions rather than in accordance with the law applicable to the recovery. It is the recovery company owner who then becomes responsible for the illegal activity.”
Lenders take heed. When you dictate when, where and how a field agent works, they are no longer an independent contractor. I’d go all in on a bet that an attorney one year out of law school would win that case. You seek control of recovery company owners, and their employees, with a blind eye towards the exposure and liability you’re bringing upon yourself. You don’t like to hear this, but I know far more than any of lender about the collateral recovery business, as do the professionals in this business that I associate with. Unless your just going with the cheapest company you can find, let us do what we know had to do, and put your focus making loans and training your collectors properly.
Here you go again, another ‘pay to play’ system that you will agree to because ‘you need the work to pay the bills’. I call BS! Allied wants answers! OK say they give you some answers, whatever the are it’s BS, What if they (Allied) don’t like the answers? Well your gonna have to do it anyway. That’s just the way it is. Just like 20 days free storage, free transport to the auction, stipulations to what you can charge for property, redemptions and on and on and on. WAKE UP PEOPLE!
I have not said anything because nobody listens, sooo, unless you are a millionaire and get out of the business your gonna take it. And I don’t need to tell you where.
I just recently had a discussion with a non-client about storage fees. their repo order stated 20 days free storage and 10 a day after that. The non-client (I was ‘removed’ from their system over the storage controversy in the past) called about a voluntary they needed picked up ‘right away’, I had plans for the evening and told them I could pick it up in the morning first thing, no thanks I’ll call someone that can pick it up tonight. Whomever they called could not get the job done because the vin# was wrong (another reason they where a non-client, fax in fax out, nothing is checked) guess what, they called me back! I got on the phone and they corrected the vin and I picked up the vehicle sent them an invoice stating my storage fees, after the vehicle sat in storage beyond the free days the argument started. the only funny part of this was when the non-client representative told me the excessive storage fees were coming out of his paycheck! They paid the fee and got their clients vehicle, yes it was a forwarder, yes I was accused of being an unscrupulous business owner. And yes I was removed (again) from their list.
My point is keep letting them run your business by DEMANDING free this and stipulated that and you will buy this system or else garbage.
Who’s name is on the business? Who writes the checks? Who deals with the angry people that come to YOUR office and makes a fuss because YOU took their property.
Will Allied help you say no? Will you say no? I don’t think you will.
WAKE UP RECOVERY AGENTS!