A recent article on CU Collector, a website dedicated to the auto-loan collector within America’s credit unions reported that a national repossession “forwarding company” was trying to find new repossession agents on Craigslist. Don’t get me wrong. I use Craigslist all…
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The Myth of Voluntary Repossession Every culture has its myths. There’s a new show on TV called “Finding Bigfoot” which is getting a lot of press. And, we just went through Christmas, a time when the mythical Santa Claus…
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We occasionally get a panic call from a local new-car dealer, asking if we help them with a emergency repossession account. It usually goes like this…customer came rolling in the dealership in their rusted out Lebaron, and after dancing with…
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I’ve focused a bit on what’s gone wrong with how some auto lenders are treating the repossession industry. But its not universally true….there are some good clients out there. What does a good client look like? At least from the…
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Most TV commercials suck, really. But you got to admit that the latest rounds of Allstate Insurance commercials are incredibly funny. Click on this one to see if you agree: They make a great point….”mayhem is everywhere!” Mr Mayhem…
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ATLANTA — Equifax announced this morning that it is continuing to see auto lending increase with average loan amounts generated through auto finance companies up 88 percent over 2009 levels. The total number of auto loans originated in January 2011…
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Okay, here it is: when creditors try and get “cheaper” repossession agencies to work for LESS (or contingent), they are actually blowing away thousands… even millions… of dollars. This is not a joke, or even a modest exaggeration. Creditors are…
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A businesstruism like “you get what you pay for” is never more true than in the autorepossession business. Take“contingent” repo assignments. Virtually every repossession industry leader has spoken outagainst the practice. Court-appointed professionals have testified that this processis inherently dangerous….
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This article in this month’s Auto Remarketing News is….well…unclear. Everyone agrees we repossessors don’t come under the FDCPA…still we make an effort to keep it within the lines (good repossessors do, anyway). But can we contact our “customers” via email…
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