From the Editor
We have an exciting February issue of www.theamericanrepossessor.com with the article from Joe Miller, AutoIMS who provides us with a great insight into the repossession industry with a research survey that really is quite telling and truly does echo the work that I have been doing with many repossession companies and what I have found because of it.
Many companies that I begin working with are in similar positions that are illustrated by Joe’s findings and with the development and growth methods, they work to be the profitable, professional companies they are today.
Joe’s research was published initially on www.autoremarketing.com, an online publication which is the ‘The NewsMagazine for the Used Car Industry’. You need to read this, it really is good stuff! …more…
Columns and Features
Michael Howk Director of Education RSIG
The by-line, “Out of the Chat room into the Court room,” is an attempt to match recent internet discussions or issues with recent case law decisions.
Police involvement in self-help repossession is a recurring theme of on-line discussions. Some of the contributors to these chats claim to be ex-police officers who provide their opinions based on their criminal law experience. Unfortunately criminal law experience does not translate particularly well to the civil law self-help as a police officer learned in a case filed in federal court, which was decided in November 2009.
Before we look at the facts lets identify the parties.
Eric——owns a used car lot and works as a full time employee of the City Police Department.
David—-manages Eric’s used car lot.
Shayla—purchased a Honda for Eric’s used car lot and is the Debtor.
Ray——-works as a full time employee of the City Police Department. …more…
Leading Online Auction Site Offers Online Remarketing Services to Recovery Agents Saving Time and Costs
REDWOOD CITY, Calif., Jan. 26, 2010 – OPENLANE, Inc., a leading online auction company in North America for automotive dealers to buy and sell wholesale vehicles, and American Recovery Association (ARA), the world’s largest association of recovery agents, today announced a joint program that allows ARA members to sell lender vehicles through OPENLANE’s online auction site at www.openlane.com. Through the OPENLANE/ARA Recovery Remarketing Program, recovery agents can now auction recovered vehicles online for lenders directly from their lots, rather than having to send the vehicles to physical auctions. By auctioning recovered vehicles directly from the lot, lenders are able to realize significant cost savings as well as reduced time to sale. This innovative approach also provides greater control and transparency throughout the recovery and remarketing process. …more…
Last March, more than 200 collateral recovery specialists from across the country joined forces to address the most important issues facing the collateral recovery industry in a first-of-it’s-kind forum. As the American Recovery Association prepares to host the second annual North American Repossessors Summit, it’s important to look at what was learned from the first event, how the industry has changed in just a short 12 months and what we can expect from the 2010 North American Repossessors Summit.
The 2009 North American Repossessors Summit provided an open, collaborative environment for all recovery professionals – regardless of location or whether or not you’re affiliated with any associations. Recovery agents of all levels of experience were able to unite as professionals and learn from one another. What we saw at the 2009 Summit was an intense passion for our industry, a desire to learn from one another and a call to action for our industry to come together. More than 75 percent of attendees surveyed said the 2009 Summit met their expectations. More importantly, an overwhelming number of attendees commented on the importance of industry and association unity and felt the Summit was a step in the right direction. …more…
ConnecTGo, Inc. IS PROUD TO ANNOUCE ITS NEW ISO 9001:2008 STATUS
OHIO, 1 DECEMBER 2009: ConnecTGo, Inc. is proud to announce that it is now an independently accredited ISO 9001:2008 certified company and all the services it provides, which includes training at all levels within repossession companies, ranging from Field Agents, to office staff to senior management, consulting and advisory services that help companies to develop and grow profitably plus others, and they have the ISO 9001 tag attached to it and that includes www.theamericanrepossessor.com. …more…
In 2002, Recovery Specialist Insurance Group (RSIG) donated the funds to open a bank account at The Fauquier Bank to establish the Recovery Agent Benefits Fund (RABF) and started the lengthy process of becoming a non-profit. …more…
Susan Marston
Michael Howk Director of Education RSIG
The by-line, “Out of the Chat room into the Court room,” is an attempt to match recent internet discussions or issues with recent case law decisions.
Police involvement in self-help repossession is a recurring theme of on-line discussions. Some of the contributors to these chats claim to be ex-police officers who provide their opinions based on their criminal law experience. Unfortunately criminal law experience does not translate particularly well to the civil law self-help as a police officer learned in a case filed in federal court, which was decided in November 2009.
Before we look at the facts lets identify the parties.
Eric——owns a used car lot and works as a full time employee of the City Police Department.
David—-manages Eric’s used car lot.
Shayla—purchased a Honda for Eric’s used car lot and is the Debtor.
Ray——-works as a full time employee of the City Police Department. …more…
Susan Marston
George Washington (1731-1799) said….” Associate yourself with men of good quality if you esteem your own reputation. It is better to be alone than in bad company….”
Having quality management systems in place, enables us to transfer not only our services to our clients, but they expand into our industry, helping their companies too, to become more professional.
Expansion is one way that a company can grow and to support that growth there needs to be policies, procedures and processes to enable the growth to survive, which in turn will help companies become more profitable. Expansion is not a word you hear of much when we are in recessional times, however, many of our clients are doing just that, growing from strength to strength and being profitable in doing so.
Expansion…during these recessional times?
Oh yes you can, as any professional, qualitative and profitable service can do it – if you plan to make it work. Knowing your market, carrying out market research and planning will help your ‘expansion’ flourish. …more…
Susan Marston
By Joe Miller, AutoIMS
ATLANTA — Auto Auction Services Corp. recently hosted a focus group for the repossession industry, inviting recovery agency managers to give their feedback about how they run their businesses, and what they need to continue serving lending institutions and other clients competitively.
This candid feedback session last October occurred on the heels of a nationwide recovery industry survey administered by AASC.
The nearly 100 survey respondents reported an average 200 repossessions per month and 37 regular clients. Most agencies have between six and 25 employees and run a business that is over 10 years old. Unique as they may be, repossession agencies are facing many of the same economic and business issues affecting most companies.
Despite media hype about the recession driving up repo volume, many agencies are struggling to secure new business and keep costs down as the industry becomes more competitive. “Managing client expectations” rounded out the top three business challenges facing repo companies. …more…
Susan Marston
By Zach Hallowell, Business Line Director, OPENLANE
Over the past decade, the role of the recovery agent has been in flux. Margins in the core recovery business have eroded, competition from national forwarders has increased and service expectations from lenders have continually increased. At one time, agents were able to balance low profits from recovery by playing a larger role in the process of selling vehicles, but issues of trust and transparency caused lenders to shift to physical auctions for this vital service. Today, more often than not, an agent’s role is solely to recover the vehicle and wait for it to be taken to a sale. Gone are the days of providing significant value-added services. However, if an agent is willing to make changes to adapt to this new environment, opportunities do exist that can restore the recovery agent to a “full service” provider, specifically through adding online remarketing to your suite of services. In fact, partnering with the right online auction can help grow your business, as others fail. …more…
Susan Marston
I want to start the new decade by reaching out to those people that are interested in joining the Repossession Industry and in and amongst their research have tried asking questions on other websites and of people within the industry. I have had so many comments and feedback from positive people that are in disbelief of the arrogant and ignorant behavior of some of our industry related ‘colleagues’ (and I use that word very loosely!). Unfortunately, I am embarrassed to say that many fellow repossessors have shunned, belittled, ridiculed and humiliated them to the point that some have not followed their dream.
Please do not judge our industry by the minority, as the majority of people within the repossession industry do not act that way. They are good, honest and hard working and usually will help others.
Don’t be disheartened if you have been a victim of this unprofessional and childish behavior, because there truly are people out there that will help you. Take a look at this video on YouTube. Although totally unrelated to the Repossession Industry, it can be interpreted to anyone, anywhere and in any lifestyle etc. It illustrates the points I am making well. ‘Just make sure you watch it all – http://www.youtube.com/watch?v=9lp0IWv8QZY&feature=related.
This woman ‘Dreamed a Dream’ and she finally got a chance to prove what she could do, against many judgmental and arrogant people’s opinions. It’s never too late and don’t let anyone deter you from your goals in life. With respect to her, if she can do it, so can you! Against all the odds she ‘Dreamed Her Dream’ and made it come true! …more…
I'm also interested in starting a repossession business, but in Wichita Kansas. I would like some info on the Kansas ...more...
I am also looking to start my own asset recovery business, but in New York. I have worked in the industry before, an...more...
Gentlemen I wish there was a way we could force that damn show off the air!!! It disgusts me every time I hear about...more...
I have had a pretty sucessful time knocking the door for keys. I just advise them if they want their personal prop...more...
thats what he gets for trying to run me over.after i bounced off the car he got out of the pt cfruser he tried to run...more...