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  • #61
    Bullhorn you cant be to mad at the banks for buying into the forwarding model. It was a great need filled for them at the right time. It was packaged to allow the banks to cut entire departments of employees, give themselves another pot of money to pull from prior to their own come claim time. It did allow the banks to cut out entire departments, they are now able to pass a lot of the payroll expense to the forwarder and run with much less overhead.

    The problem that has come up is the close % has dropped off the map from a national number around 75% to 30% (so im told please correct me if you know better than I). I have also been told that with these numbers and lack of communication between forwarders and Repossession companies. That the profitability of the collections departments have also dropped. So while it was able to save them money in the short term, time may show the lenders that they can still achieve a better bottom line out of the direct model. Or there may be new forwarding companies that pop up and land some large accounts that actually pay a fair amount and update the accounts prior to sending it out to the 3rd or 4th agent in 3 weeks.

    So dont get to mad at the forwarders for being savy businessmen, recgonizing a need and jumping on the oppritunity to fill it.

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    • #62
      Rsig has brought to the market an assignment platform for lenders to have a live program where they will have direct contact with the repossessor. RSIG is more a facilitator for them to send business from lender to recovery company. They choose what agent they want to use in that area, they must be an RSIG member, every assignment is then insured by the RSIG policy and it saves the lender from having to have certificate of insurance on each or if using the forwarding model no lapse time in updated on assignments on hold. It is free to the lender and only a small fee including insurance from the member. If the lender chooses they can participate in batch billing where they get one bill form all agents and usually in 48 hours the agent is paid by RSIG as the check will be sent to them to send to the agents (one bill and one check for the client). Included in the program is key codes and a skip tracing package.

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      • #63
        Originally posted by jclark View Post
        Rsig has brought to the market an assignment platform for lenders to have a live program where they will have direct contact with the repossessor. RSIG is more a facilitator for them to send business from lender to recovery company. They choose what agent they want to use in that area, they must be an RSIG member, every assignment is then insured by the RSIG policy and it saves the lender from having to have certificate of insurance on each or if using the forwarding model no lapse time in updated on assignments on hold. It is free to the lender and only a small fee including insurance from the member. If the lender chooses they can participate in batch billing where they get one bill form all agents and usually in 48 hours the agent is paid by RSIG as the check will be sent to them to send to the agents (one bill and one check for the client). Included in the program is key codes and a skip tracing package.
        That's actually a well thought out idea.
        I walk through the Valley of Darkness and Fear no evil on a daily basis.

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        • #64
          i cover northeasten pa along with northwestern nj
          please email me some info
          afterhoursrecoverypa

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          • #65
            National Asset Recovery Corp of FL throwing in the towel? Believe they are a forwarder and repo company.

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            • #66
              Forwarder Throws in the Towel

              The end of the tumultuous indirect repossession forwarder, publicly traded Florida repo forwarding company National Asset Recovery Corp. (NARC) traded on the “penny stocks” as REPO.PK, announced in their third quarter sec Form 10-Q that they have ended their foray into the repossession forwarding business.

              Their stated reason for this decision was due to having earned a mere $76,135 from repossession forwarding and having ended the 1 month business cycle with a -$80,395 budget deficit.

              In the filing they state, “We have recently taken steps to further reduce the number of employees we have and have also relocated our offices to Lake Mary, Florida, in order to reduce rent, utilities and other operating costs. We have also temporarily ceased operations as a repossession forwarding business and are evaluating opportunities to create more economical sources of revenue within the debt collection and asset recovery industry. At this time, however, there is no assurance that we will be successful in generating sufficient revenues from operations or raising additional capital that is required to execute our business objectives.”

              http://blog.cucollector.com/?page_id=4669
              Kel

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              • #67
                Originally posted by Marylou23 View Post
                I would just like to say I work for one of those HORRID forwarders that most of you claim to hate....I mean at what point can we just accept that it is what it is. We are here and going to be here for a long time to come.....so why cant we all work together. I get it no close fee's, we don't pay fast enough, our prices are too low, the list goes on and on... but at what point do we get to complain about the vendors?

                Most don't update on time, the updates are like a sentence long...its and act of congress to get a good DETAILED update, and oh my god SIGNED PAPERWORK what is so hard about faxing something (also we know when somethings forged/we have a copy of the contract with the DB's signature..so think again on those VSF's)...but heaven help us if we say one thing...its an automatic I'm quitting ,I'm holding your cars, I'll call all your clients BLAH BLAH BLAH....that behavior is REAL professional, GO DIRECT WITH THAT BEHAVIOR...GOOD LUCK!

                I really wish we could find some middle ground...you help the forwarders and we'll help and take care of you guys....but we need to ride out the bad/slow times together.

                With that being said I need some GOOD vendors in certain states....anyone willing to step up?

                Ready for the work if your ready to send it, updates M / W/ F.... We work 7 days a week, yes even Friday nights!!!!! My phones are always answered 24/7 so my clients can always reach us..... let me know !!

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                • #68
                  I am in florida....

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                  • #69
                    You pay for what you get!!! Stop complaining on both sides and charge for your services...if you did,you would not be complaining!!! Ken Surety Recovery Service - Oakland,California
                    Surety Recovery Service,Incorporated
                    Oakland,California
                    "The Recovery Specialists"
                    Repossessions - Investigations - Bail Enforcement
                    1-866-803-7376

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                    • #70
                      Arizona here I take all legit work and really work well with forwarders. I don't get the hostile attitude towards them but I get the frustrations in some situations.

                      Need a good agent in Arizona, We are your go to company.

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                      • #71
                        ****, too bad she is banned on here now? Tried to PM here says she is banned..


                        Anyone know her details or what company she was with PM please?

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                        • #72
                          Originally posted by PRAREPO View Post
                          ****, too bad she is banned on here now? Tried to PM here says she is banned..


                          Anyone know her details or what company she was with PM please?

                          Nobody you want to mess with, there is a reason she is banned?

                          What company are you with?

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                          • #73
                            Mesa, AZ but you are a forwarder so PLEASE dont send anything my way.

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                            • #74
                              Originally posted by AssetRecovery View Post
                              Mesa, AZ but you are a forwarder so PLEASE dont send anything my way.
                              This PRAREPO is a forwarder??

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                              • #75
                                Cover CT and have LPR Cameras

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