Know your repossession agent

Source: https://www.equipmentfa.com/blogs/31333/repossessing-collateral-know-your-repossession-agent   Anytime you must repossess collateral, the lender assumes meaningful risk. Involuntary repossession, by definition, is often a hostile situation that can lead to a host of problems. Given that courts have found repeatedly that lenders are responsible for the acts of their sub-contractors, it is critical that your organization ensures that repossession…

Read More
agent panel discussion

Watch The Video: **For the best video quality and display, watch in full screen mode.   Panel: -Les McCook of American Recovery Association (ARA) -Bryanna Cox of Paradigm Recovery -Mike Pletz of International Recovery Systems (IRS)   Host: -Michael Levison of Resolvion   More repossession agencies are closing their doors every week. In this panel…

Read More
post covid challenges

When the COVID shutdown began, most lenders issued moratoriums on repossession activity and began issuing payment deferrals to customers on a large scale.  Several states also issued executive orders reducing or eliminating a lender’s ability to enforce their security interests during the crisis.  As a consequence, over 90% of the repossession industry’s revenues vanished within…

Read More
repo moratorium survey

Recently, we sent out an email asking for participation in a survey surrounding post COVID-19 lender repossession activity. The results are in and we want to share it with you. Below you can find the questions and answers from the survey as well as the opportunity to download a PDF file of the full results.…

Read More
optimizing repo results ai and big data

The characters in “The Wizard of Oz” ultimately learn that the items they had been seeking — courage, a heart, and a brain — were with them all along. They just needed to look inside themselves and realize the situations they had faced helped reveal those characteristics they thought they did not have. As Glinda…

Read More
Effective Impound Management

An impounded vehicle is a ticking time bomb. From the moment the vehicle is towed into an impound yard until the moment it is recovered, the clock is ticking. And with every passing second, more money is being lost and more headaches are being created. The fractured nature of the impound industry, from tax notifications…

Read More

Author: Joel Kennedy, NAF Association Source: SubPrime Auto Finance News   Editor’s note: This commentary is the first in a series compiled by Joel Kennedy, who is the current president of the National Automotive Finance Association and Chief Operating Officer at TruDecision, looking at the intricacies of repossessions and recovery. The industry that locates borrowers and…

Read More
a crisis for repo agents

Article from: SubPrime Written by: Nick Zulovich   DALLAS – While the overall automotive industry might be relatively healthy, no doubt there are dealerships struggling with aged inventory, auctions stressed to keep commercial consignors satisfied and finance companies wringing their hands over compressed margins and wavering portfolio performances. But if you would please indulge me…

Read More
impound recovery

Effective management of impound repossessions is challenging.  Impound yard operators are notorious for being difficult and, in many cases, unscrupulous operators.  The entire process consists of several unconnected parts and requires specialized expertise to handle effectively. If not handled properly, the process can be extremely expensive, or even worse, can result in the loss of your…

Read More
lpr management

If you ask a handful of repossession managers about their top goals, it would be recovering more cars, lowering the average days to repossession, speeding up vehicle auction sales, and reducing overall costs. Outside of remaining compliance, most repossession and loss mitigation managers are focused on these metrics. There are many ways to accomplish these…

Read More