Category Archives: News & Discussion

2 users describe positive outcomes using MBSi’s Recovery Connect platform

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PHOENIX –  A pair of users who have deployed Recovery Connect, MBSi’s next generation recovery assignment management platform, described the successes each one has enjoyed with the solution. To recap, the Recovery Connect mobile app can connect finance companies with recovery agents in real-time allowing both to make decisions related to asset recovery, transport and remarketing, regardless of whether the finance … Continue reading →

Man with shotgun confronts tow truck operator during vehicle repossession

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  OMAHA, Neb. — A tow truck operator repossessing a vehicle early Wednesday morning was confronted by a man with a shotgun, police said. The operator left without the vehicle and called police around 1:30 a.m., investigators said at the scene. Officers showed up to talk to man at the home near 38th and Decatur streets. Eventually the man came … Continue reading →

Auto loan delinquencies rise sharply among subprime borrowers

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Nearly one in 10 car loans made to borrowers with bad credit was delinquent by 90 days or more in October, according to a new report on household debt by the Federal Reserve Bank Of New York.  The market for so-called subprime auto loans is dominated by finance companies who have lower underwriting standards and charge much higher interest rates. The New York Fed … Continue reading →

RISC makes comprehensive repossession lot inspection reports available

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PALM SPRINGS, Calif. – The leadership at Recovery Industry Services Co. (RISC) heard panel discussions and networking dialogue from industry participants during Used Car Week about the importance of compliance for third-party vendors. The situation reinforced why RISC rolled out its latest offering on Tuesday. RISC’s Lot Inspection Service includes current reports on more than 1,500 recovery companies that collectively operate more … Continue reading →

Woman’s Toyota gets repossessed several times despite car note being paid

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Driver worries her car will disappear again HILLSBOROUGH COUNTY, Fla. – When Tina Wheeler’s 2015 Toyota Corolla was towed away on Jan. 9 she thought it was an innocent mistake by a repossession company, months later it happened again. “I’m kind of worried when I go outside from work and home it’s going to be gone again,” Wheeler said.   … Continue reading →

Nothing Changes… (T. Shadow)

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This article was submitted to RepoMag.com in 2002   A CLARION CALL TO ARMS  There is an ominous cloud spreading over our industry that threatens to decimate our freedoms as individual, independent businessmen and businesswomen. A conspiracy, if you will, by two formidable groups, with lots of money. They have attempted it before, and although unsuccessful, they devastated many of … Continue reading →

His car was repossessed, and then he was hit with it, police say

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An argument between a 67-year-old man and the tow-truck driver responsible for repossessing the man’s vehicle led to a hit-and-run injury accident, police say. At about 8:30 p.m. on Wednesday, Nov. 8 officers were dispatched to the injury accident at a house in the 1900 block of North Spruce. That’s near 17th and Grove. The tow-truck driver had fled the … Continue reading →

Debtor takes repoman on a ride…

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Dispute with repossession employees goes on the road    Local law enforcement authorities were called after an attempt to repossess a car got out of hand Sunday afternoon. The incident began with three employees of a repossession company attempted to repossess a car for a Mount Haley Township couple. During the attempt, a 42-year-old woman jumped in the car. Before … Continue reading →

Repo man tows BMW to Rock Hill, thief wrecks it

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ROCK HILL  Police in Rock Hill are investigating a report by a repo man who told officers someone tried to steal a BMW he had repossessed before crashing the car. The driver of a tow truck service on Anderson Road told Rock Hill Police Department officers that he repossessed a 2009 BMW in North Carolina Thursday night then towed it … Continue reading →