50% of all wrongful repossession claims are caused by the absence of a valid lien or invalid orders due to military-related exclusions or bankruptcies – Harding Brooks Insurance
There is no more gut wrenching feeling than hearing the words “it’s a wrongful.” It is the nails on the chalkboard and the bane of everyone in the collections, forwarding and repossession industries. But it seems to be increasing in frequency and even the CFPB is taking notice. Sad part is, it’s mostly preventable.
The Cardinal Rule – Thou shalt not commit wrongful repossession – Repossession – CFPB
The Cardinal Rule – Thou shalt not commit wrongful repossession – CFPB
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