The American Repossessor

The Federal Trade Commission (FTC) have done it again….changed the date when the new Red Flag Rules Program comes into effect for those companies that are suppliers to the financial institutions, in relation to dealing with Identity Theft.

The new date for compliance is now 1 August 2009. The FTC states that …..” to give creditors and financial institutions more time to develop and implement written identity theft prevention programs.…”

For those repossession companies that are already prepared, you have completed your planning in good time and this will also help you to reassure your clients that you have been proactive in developing your processes and procedures within your company to support your services to them.

Unfortunately, we still are plagued by the idiot repossessors of our industry in carrying out repossessions that are totally improper and make the industry look so unprofessional and thug-like. See the article in the National Corner Section titled ” Repo team twice grabs wrong boat”. What is there to say about this, that has not been said before?

As an absolute contrast to the aforementioned idiots in our industry, there was a repossessor who really was ahead of his time in the way he ran his repossession company. But that stems from his very persona of being a man with integrity, dignity and a quiet disposition – a professional that will be sadly missed. A friend and colleague, and owner of Integrity Recovery, Inc., Karl Moss died last month at the young age of 53. He will be missed by many.

This year seems to be moving by at an extremely fast pace and by the time July spins around, there will be some big changes in the www.theamericanrepossessor.com website. It will have a completely new look and content. So watch this space.

“…Change is the law of life. And those who look only to the past or present are certain to miss the future…”(John F. Kennedy)

June is a month of change, as we move from Spring to Summer, so as we can’t afford to standstill, keep cool as we need to keep moving!