The American Repossessor

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.

Since that time we have made distributions to 17 families who called on the Fund because of falling on exceptionally hard times due to debilitating injury, illness or death. This includes times when the Fund was called upon because families did not have the money required to pay the expenses to complete their loved one’s burial.

RABF is available to anyone in the industry regardless of their trade group affiliation or insurance provider, whether they are an owner or an employee. Requests for disbursements are reviewed on a case by case basis. Account services for the RABF are donated by an independent certified public accountant; and no other involved with the fund draws any sort of financial compensation for their time or efforts.

We are extremely pleased to be able to announce that the Recovery Agent Benefits Fund has finally received its approval for 501(c)(3) status from the IRS; meaning that all donations to the Fund are fully tax deductible as charitable donations. We are very proud of this accomplishment, not only because it is the first of its kind for the Repossession Industry, but because the IRS has recognized the Fund’s importance by approving its 501(c)(3) status.

RABF was initially funded exclusively as a result of donations made to a specific individual’s fund. In recent months, some agencies have been contributing small amounts on a regular basis regardless of an open fund, in order to have funds available on an immediate basis when needed.

We are hoping now that the 501(c)(3) status has been approved, that others within the industry, including vendors who provide goods and services, as well as industry trade organizations, will seize the opportunity not only to claim the tax deduction, but also more actively participate in the Fund’s growth. After all, industry trade associations are established to benefit their members and the industry and none of us know when you or your family member may need the services of the Fund.

In a time when repossessors are often called upon to go head first into hostile situations and at a time when the turbulent economic times are pushing consumers to their financial and mental limits, this Fund is more important than ever.

Repossession company owners struggle with the ability to meet their day to day financial obligations and often fall short in their ability to find affordable Workers’ Compensation rates and to provide health and life insurance benefits. This Fund is a way to help within the industry and regular contributions are a way to make sure that the Fund is able to respond when called upon. Now those contributions are tax deductible!

For more information please contact:

Recovery Agent Benefits Fund
P O Box 4102
Manassas
VA 20108

Telephone: 703 365 0409
Fax: 703 365 0756