Repossessions and Bankruptcy: What the Fulton decision means for turnover

Repossession and Bankruptcy

  Written by: Rudy Cerone at McGlinchey Original Source: https://www.autofinancenews.net/allposts/auto-finance-excellence/compliance/repossessions-and-bankruptcy-what-the-fulton-decision-means-for-turnover/   The February Supreme Court decision in City of Chicago v. Fulton was widely celebrated in the lending community because the court found that a lender who repossesses a vehicle before a borrower files for bankruptcy is not in violation of the “exercise control” provision of the Bankruptcy…

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The Repo Alliance: An Attempt to Standardize the Repo Industry

repo alliance

Exclusively written for Resolvion by Janina Burnell.   The repossession industry has been forced to act to protect itself in the current climate, intensified by the recent pandemic. The Repo Alliance is a fundraising body that brings together several groups looking to serve a common interest. It started out with the American Recovery Association (ARA) and has…

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Repossessing Collateral? Know Your Repossession Agent

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…

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Where Sub-prime Lenders Can Incorporate Predictive Modeling for Loans

predictive modeling

Author/Source: Non-Prime Times Sub-prime lenders must sense the famous saying all the time nowadays, because the more things change, the more they stay the same. Sure, the industry is in a drastically different place today compared to five or even 10 years ago. Today, there are a bevy of data analytics and technology platforms to…

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Part I of recovery commentary: Skip-tracing strategy and measuring value

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…

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From the editor: A crisis facing repossession agents

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…

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22 Repo Industry Statistics, Trends & Analysis

Repo Industry Statistics

Article from: https://brandongaille.com/22-repo-industry-statistics-trends-analysis/   The repo industry is involved in the business of repossession. When consumers default on a loan, such as a car loan, then a lien on that item can be activated. The consumer can be ordered to turn the product over because of the lien. Most owners refuse to do so. That’s…

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Who Are The Real Bad Guys; Banks, Forwarders, or Agents?

who are the real bad guys

Article from: CU Collector Written by: Jeremy Cross International Recovery Systems   As we all know the state of the repossession industry has changed drastically in the last few years.  What was once a very lucrative industry for all who ran their businesses well has become one of distrust and infighting that is seeing costs…

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