The American Repossessor

This month’s issue of theamericanrepossessor.com includes many articles  from  around the US and many more from the corners of the globe e.g., Canada, New Zealand, South Africa, Australia, Ireland.  You will see that irrespective of geography, we are all suffering from the same CHANGES – the economic problems that have been thrust upon us.

Another area of CHANGE that we have to adhere to is the RED FLAG POLICY – IDENTITY THEFT (see  the Susan Marston column for more information) and as it is now Federal Law that  our clients are  having to meet the legal requirements set out in the FACTA (Fair and Accurate Credit Transactions Act).  The US Red Flag regulations, recently was issued to facilitate the detection, prevention and mitigation of the risk of identity theft  involving Financial Institutions customer’s covered accounts – our clients.  As we are the supplier network for repossession services and an extension of our clients debtor’s information, we too have to meet those regulations.

And if we don’t?  WE WILL LOSE OUR CLIENTS!

This is a major CHANGE and one that cannot be ignored as the deadline to have a RED FLAG POLICY  in place is 1 November 2008.

This just goes to show that we really do not have any control on many things that affect our businesses, so let’s make sure that the influence and control we do have, is put to pro-active use in growing our companies the right way….the professional way!

Happy Repossessing!