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Unwritten rules of forwarding

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  • Unwritten rules of forwarding

    None of what I am about to talk about is found in a forwarding company handbook. Most are verbal directives put out on the collections floor, in meetings or at a customer account rep's desk.

  • #2
    We are told to slash and burn. To divide and conquer. The price chisel.

    How the forwarders do it is that they do not just use one company in an area they use 3 or 4 or more. Have you ever noticed a decrease in work in our area even though you bust your *** and do a great job? Just call in and ask about the decrease and you will be told that one of the upper level people are telling the reps to use another company that is doing repos for $20 less. The rep then tells you that they personally want to use and hate the new company. They tell you are better. Then they slip in if you lowere your rate they will get you more work.

    The truth is they purposely shifted work to one of the other companies they use in your area. That company probably is not charging any less that you, but they lie. They know that you are going to call in and inquire as to why the work has slowed. When you call in the hook is in your mouth and when you agree to drop your rates they set the hook and reel you in.

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    • #3
      Involuntary to voluntary conversions.

      We spend a whole lot of time qualifying all the involuntary repossession orders that come across our desk. We make an attempt to contact the debtor and get them to turn the car over voluntarily. When we do this we get paid for an involuntary repossession but pay our agents for a voluntary.

      The big problem is that we only convert a certain percentage and the others ones are tipped off that someone is coming for their car. All of us reps feel like that is why recovery rates on involuntary repossession orders are so low. But hell, the bosses are looking to get that full repo fee and pay a voluntary fee to the agents.

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      • #4
        The whip around or the hot potato.

        The forwarding company I work for thinks all repossession agents are lazy and liars. In their mind the accounts are not getting run the way they should so they check up on our contractors. Of course we can't drive by and see what a house looks like or see if the car is there or the updates we get are accurate. So we get some free quality control agents to verify things. We issue the account to agent A and then get agent B to check A's work and then agent C does some more free quality control by verifying the first 2 agents updates. This rarely gets a car picked up, but the bosses say it does not cost our company anything so what the hell.

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        • #5
          So lets list the pro's and con's of using a forwarding company. From what I've seen and read, the con's will out weigh the pro's.

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          • #6
            I have received over 20 messages asking me who I am and where I work. Please do not ask for my personal info. Even if we know each other I can't really acknowledge that, as it is vital that I do not lose my job. Even if I left this forwarding company I could not say much publicly with my name traceable as I have signed several non disclosure agreements and non compete contracts.

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            • #7
              all true and i commend you for taking a stand....please continue, i've been doing my best to shine light on the unscrupulous practices of forwarders....with no fear i will publish names and companies.....change sometimes comes with pain....there is a group who does this and their colleagues and client cronnies run in a tight circle, i've even heard them laugh about us..our collective efforts of the last year has greatly unraveled that....always shine the light and refuse to accept their assignments....without repossessors, they cannot repossess cars and my intent is to choke them out...the more of us who take this stance, the quicker things will change

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              • #8
                Dis **** seem so triffling i dont see how you standing to work there

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                • #9
                  Forwarding unwritten rules

                  None of this really matters.If you as a owner and repossessor charge what YOU feel is reasonable to survive in business and from your business model,cannot do work for less,there is NO way you can do business with them.If enough people stick to their guns the forwarders will have no choice but to pay what you charge.Very simple thoughts,but people complain because they don't do what they say they will.Ken


                  Originally posted by The Mole View Post
                  We are told to slash and burn. To divide and conquer. The price chisel.

                  How the forwarders do it is that they do not just use one company in an area they use 3 or 4 or more. Have you ever noticed a decrease in work in our area even though you bust your *** and do a great job? Just call in and ask about the decrease and you will be told that one of the upper level people are telling the reps to use another company that is doing repos for $20 less. The rep then tells you that they personally want to use and hate the new company. They tell you are better. Then they slip in if you lowere your rate they will get you more work.

                  The truth is they purposely shifted work to one of the other companies they use in your area. That company probably is not charging any less that you, but they lie. They know that you are going to call in and inquire as to why the work has slowed. When you call in the hook is in your mouth and when you agree to drop your rates they set the hook and reel you in.
                  Surety Recovery Service,Incorporated
                  Oakland,California
                  "The Recovery Specialists"
                  Repossessions - Investigations - Bail Enforcement
                  1-866-803-7376

                  Comment


                  • #10
                    forwarding company secrets

                    The problem,again,is the repossession agents.Because you are willling to do SOMETHING for free you put yourself in this position.Ron stated to me years ago...." Ken,you NEVER do ANYTHING for a bank for free!!" Kenneth



                    Originally posted by The Mole View Post
                    The whip around or the hot potato.

                    The forwarding company I work for thinks all repossession agents are lazy and liars. In their mind the accounts are not getting run the way they should so they check up on our contractors. Of course we can't drive by and see what a house looks like or see if the car is there or the updates we get are accurate. So we get some free quality control agents to verify things. We issue the account to agent A and then get agent B to check A's work and then agent C does some more free quality control by verifying the first 2 agents updates. This rarely gets a car picked up, but the bosses say it does not cost our company anything so what the hell.
                    Surety Recovery Service,Incorporated
                    Oakland,California
                    "The Recovery Specialists"
                    Repossessions - Investigations - Bail Enforcement
                    1-866-803-7376

                    Comment


                    • #11
                      THANK YOU CAPTAIN OBVIOUS. Tell us something that any professional doesn't already know.

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                      • #12
                        Pro's and Con's

                        The pro's and Con's have absolutely NOTHING to do with ANYTHING!! The fact of the matter is that you are in a position as a service provider to determine whether or not a relationship with this company is benficial to your organization.From what I have read these past few years,there is NO benifit,therefore,why are we speaking about this?? Simple,STOP working fior them and STOP letting oter individuals dictate your fee schedule.When you STOP doing the latter,you WILL start making more of a profit.That said,it may take 2 years for that to happen.Period!! Ken

                        Originally posted by u-no-y View Post
                        So lets list the pro's and con's of using a forwarding company. From what I've seen and read, the con's will out weigh the pro's.
                        Surety Recovery Service,Incorporated
                        Oakland,California
                        "The Recovery Specialists"
                        Repossessions - Investigations - Bail Enforcement
                        1-866-803-7376

                        Comment


                        • #13
                          Great to see the honesty.

                          Several of us are aware of many of the forwarders practices. Great job so far. There are very few forwarders that understand the basics of right and wrong and that is why many will not last. Treat the agents well. Show them
                          Respect. Pay them a fair wage for their services and they will make you successful. Simple. In time the one you. Currently work for will be gone and they will only have their greed to thank for this. Many of the employees are great people and I hope you stay true to yourselves. Good luck and thanks again for the honesty.

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                          • #14
                            Yep. These aren't really "secrets" it is all pretty obvious after working with forwarders for a year.

                            Most good repo agencies know the forwarding company games. Once with see the 20-40 percent recovery rate. with 50 percent voluntary ... We're done. Your assignments go to the back burner... And you're luck if we ever give you an update, or run an address twice.

                            We just can't take the assignments seriously.. period.

                            Comment


                            • #15
                              I appreciate you giving us a heads up and sharing all of this with us. But I have to say this and I don't mean it with any disrespect but you would have to think we are of pretty low intelligence to not realize that forwarders do all of what you posted.

                              The idea behind forwarding, the business model, it is a great idea. The problem is when your entire business and every penny of income is based off of the people you hire (recovery agents) and you consider them disposable and treat them terribly you will eventually fail. There is not a never ending supply of new companies opening up to take advantage of. Clients will only put up with terrible recovery rates from these new companies for so long. The companies who will work for nothing will end up going under. Supply and demand works both ways here for both those supplying the work and those doing the work. Things will end up working its way out.

                              Build a business model that will work for you, figure out what you need to charge to not only "make a profit" but to live the lifestyle you expect. DO THE MATH! Don't guess. Stick to your guns. Do impounds lockouts and roadside towing if you need to get by but don't undersell yourself. Ride this wave of idiocy out and the dust will settle soon enough.

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