Yes, it is the 'C' word no recovery agent ever wants to hear...Contigency! Contingent cases clearly cost the agents...no close or cure fees and usually a ridiculously low repo fee to boot. A thought crossed my mind when thinking of the violence toward recovery agents recently. How many of those incidents involved contingent cases? It would be interesting to see if there were a direct correlation.
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Originally posted by FIVEPTOHH View PostTo be honest I have not noticed a trend with that at all. Usually the banks that do not want to pay a close fee have bad information anyway and we are just out doing skip work for free!Kel
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Originally posted by SeaKelly View PostSo in your area, you are seeing more banks not wanting to pay a close fee? What about BHPH or subprime lenders in your area?
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Originally posted by SeaKelly View PostWould you say that not being provided good information on a repo is the #1 issue for recovery agents?
Yes, I've had several addresses given to me and utilities havent been active in two years in one case and 6 months in another. I also hate getting files that have a vin and make and model and nothing else. No tag, no color, no apartment numbers or incorrect apartment numbers. I can understand not giving up the debtor SS number but the more information we have the better we can locate the car/debtor quicker most of the time. POE is always helpful too.
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Originally posted by SeaKelly View PostWould you say that not being provided good information on a repo is the #1 issue for recovery agents?
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This situation is a very simple one.Charge for your services.When a client sends an assignment without a license plate,color,etc.Call them back and request it!! Document this in your reports...believe it or not,managers do read the reports and act accordingly.Charge for your services.Ever getan assignment,go to the address and the vin is covered.Go back and let the client know that a unit fitting the description was there,but you could not verify because you were lacking the information...simple as that.If you keep doing this they will change their procedures.Also,charge for your services.Don't do contingency work!! Look up the word contingency.Good luck and go out and make some money!!!!!!! KenSurety Recovery Service,IncorporatedOakland,California"The Recovery Specialists"Repossessions - Investigations - Bail Enforcement1-866-803-7376
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