Repo America with J. Patrick Altes

A full 32% of all lawsuits against repossessors are for wrongdoing not by them or their employees...its wrongdoing by the auto lender themselves, and the repossession agent is left twisting in the wind due to bad, unfair language found in the contracts they are forced to sign in order to get the work. What can be done? Industry expert Mike Peplinski is involved in the fight along with others in pushing back against this fatal situation.

Washington Post article from 3/7/2022 passed along their version of the messaging from CFPB Director Rohit Chopra to auto lenders, and their repossessors: "Don't illegally repo people's vehicles. We are watching". CFPB's recent bulletin is the strongest message ever concerning auto repossessions. Patrick Altes discusses with Atty Patrick D Newman from Bassford Remele exactly what the bureau is saying to us...and our clients.

LPR technology was going to be the future of the repossession industry. A great tool to collect data for your own agency, and a way to get repossession accounts from major clients using the platform. Over the years, the goalposts have been moved, and many repossessors no longer want to be part of the game. Florida's VInnie Payne explains why his cameras are going to sit on the shelf.

The repossession industry is bone-weary from the endless beat-downs by SOME of America's forwarders. Silly excuses to disallow invoices...not passing along fees they collect for services intended to pay field agent...the list goes on and on. Considering inflation, repossessors are getting a fraction of what they were paid 25 years ago. In response, some repossessors in the State of Florida decided to boycott by turning off the LPR cameras that feed data into the system. DRN was caught in the middle, and Jeremiah Wheeler has some thoughts how to best attain the desired results.

Mike is a former president of National Finance Adjusters, a national repossession trade association. He recently sold his business to a national forwarding firm, and now standing outside the industry, offers some unique...and a little troubling...insights into its future.

Great discussion with Patrick D Newman with the law firm of Bassford Remele, with Stephanie Findley with Texas Accredited Repossession Professionals (Texas ARP), with Mark Zane with Nevada Association of Licensed Repossessors (NALR) and the ever helpful Mike Peplinski with our industry's major insurance agency Harding Brooks.

Why do we keep doing this? Signing contracts that reach far, far outside the scope of our insurance, setting ourselves for a "six figure" legal defense that few of us could survive.

The girls are back in town! Bryanna talked with Kristen, Emily and Starr about what happened at this years' Used Car Week. And a lot is happening!

Is the repossession industry having a "moment"? Some slim chance of our getting our act together, and stand side-by-side in this dark hour of the industry? The answer is clear....maybe. Pat and Bryanna talk with thought leaders Jeremy Cross and Vaughn Clemmons.

Pat interviews longtime industry agency owner Lauren Dewitt, and ARA director Les McCook about MBSi's requirement for using another of their offerings, CARS certification, to access their management platform. Discussion revolves around the adverse financial impact to an agency owner, the rationale behind ignoring other nationally-accepted compliance programs.

Over the next couple of weeks, Pat will be talking with various players as to why these repo agency consolidations aren't flying.