In our earlier report, we reported that “Repossession agencies in the area have reportedly been put on a 60 day moratorium on all repossessions by the state as well as many lenders and will likely be extended throughout the disaster recovery period.”
This has not been verified as a “State Mandate”, but rather individual lenders have broadcasted this publicly and probably directly to individual agencies in the areas. Please check with your lenders as appropriate on this.
Repossessors Affected
Earlier it had been reported that no agencies themselves had been affected, but later, we had to unfortunately update that two Allied Finance Adjuster agencies (names withheld) have suffered significant damage. One American Recovery Association member lost their home and six of their employees.
More Stories
Court Upholds Lenders Right to Report Vehicle Repossession in FCRA Dispute
The Shadowy Authorized User Tradeline Market: Revenue, Legality and Credit Risk Implications
TrueSpot and PassTime® Announce Strategic Partnership to Deliver Next-Level Location and Asset Tracking Solutions to Automotive Dealers