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  • #31
    Originally posted by Patriot Recovery View Post
    I highlighted some statements in red that I have a problem with...

    First, you are addressing Kelly, and the forwarder she works for is the best out there in my opinion. Guess what else you submit your rate sheet to them, not the other way around.

    As far as this happening to our entire industry, thats not true, just a lot of it. We have plenty of work, we are busy, and we do not take work from ANY forwarders!

    As far as the repo man train of thought speak for yourself. Its not my train of thought and I am sure you dont speak for everyone here. If you dont get this, your kids dont eat. Thats bad, and I am sorry if that is true for you. If it is maybe its time to find a new career. There are plenty of ways to be successful during bad times and plenty of good clients out there. The get the cars or go broke statement ties right in also.

    The outlook may not be so good for you in the future, but once again you dont speak for me or everyone on here. I know several companies both big and small that are doing very well...

    Seems to me that your negative outlook, or your client base, or something has gone bad for you, and im sorry to hear that....However if these are your true thoughts, maybe you are part of the PROBLEM in this industry, and not the SOLUTION.
    Thank you!!!
    Kel

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    • #32
      Who on earth pays 375 close cure pay??? I work all the time for the C word, it sucks but i am just blessed to have work and happily grinding away. I don't mind working for the C word but when i get like 20-35 bucks into it skipping them out (accurint, masterfiles etc), they close it on me and then my buddy picks it up from another repo company with my info it makes me turn a shade or two red! I would be rich if I got 50 buck close fee's and man that would be the bee's knees if I could convince these people to not send work "C" word lol. I miss the days of living large and working right with lender direct and not makign a middle man money but again in this economy I am happy to put food on the table and be alive and well!

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      • #33
        Originally posted by PRAREPO View Post
        Who on earth pays 375 close cure pay??? I work all the time for the C word, it sucks but i am just blessed to have work and happily grinding away. I don't mind working for the C word but when i get like 20-35 bucks into it skipping them out (accurint, masterfiles etc), they close it on me and then my buddy picks it up from another repo company with my info it makes me turn a shade or two red! I would be rich if I got 50 buck close fee's and man that would be the bee's knees if I could convince these people to not send work "C" word lol. I miss the days of living large and working right with lender direct and not makign a middle man money but again in this economy I am happy to put food on the table and be alive and well!
        Those days are not gone....

        The crazy volume of companies that made those days possible however are gone.

        All you need now are a few really good clients that pay your rates and send you a decent amount of work to have a foundation to build on.

        Niche market repos are a great thing now with the economy the way it is also...

        There is no reason that you should not be able to have them pay your rates and have to put yourself through the hassle of the "c" word.

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        • #34
          I've been quite fortunate to say that all of my clients pay a closing fee, as well as treating me fairly on fees themselves. i have one client that pays less than the others, but the info is impeccable and in most cases are GPS equipped to boot. so I will do those all day long.

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          • #35
            Originally posted by AAAbleRecovery View Post
            info is impeccable
            Thats a plus!

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            • #36
              Contingency work

              In my opinion it is very very simple,your aggravation is of your own doing!! Why would you work for someone who does not pay you to do the work??You have he ability to change your situation.You say the competition is fierce.....not really,are you being paid for your skip work? IF YOU TURN THE WORK DOWN WHAT HAPPENS TO THE ACCOUNT?? If it gets assigned to another agency and they do not locate the colllateral who will the client turn to?? If it is a forwarder,and they have this happen on a regular basis the client will eventually fire them and seek another alternative.I get calls all the time from other companies,forwarders and otherwise looking for new agents.We cover the Entire San Francisco/Bay Area from Santa Rosa to Gilroy and they are always saying" you cover all the areas that we need!!"....... I know I do....but I will not work for free.The work I turn down will be worked by another company,but there is a reason that you are calling me!! Most people that are satisfied with your work do not seek other agents....period!! Until you realize the value of your services you will conjtinue to work for free! Kenneth


              Originally posted by Repowoman30 View Post
              I work for a forwarding company as a skip tracer. And unfortunately, there are some lenders that I handle that have nothing but contingent accounts. So I understand the frustration behind contingency. After all, as a skip tracer, the amount of money I put into skipping an account only to find a resolve for the collateral that isn't payable per contract (like total losses or lien losses) is beyond aggravating.

              Unfortunately the competition (especially among forwarding companies) is so fierce that sometimes contingency is necessary.

              But, as a skip tracer, let me say that I keep communication with my agents open, that I do my best to provide them with the most current information, and as the trainer for my department, I demand the same from my co-workers.

              You guys are the ones that get the vehicles. We just send you information. Ultimately, without an outstanding repossession agent, it doesn't matter how good the information I send out is. I'm trying very hard to make sure all of my co-workers realize this.
              Surety Recovery Service,Incorporated
              Oakland,California
              "The Recovery Specialists"
              Repossessions - Investigations - Bail Enforcement
              1-866-803-7376

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              • #37
                Contingency

                The problem is perpetuated by our industry!! You want the business,so you take the contingency work.When the vehicle does not show up and you cannot recover it,what do you do?? Why is it that the collateral is not at the given??Mainly becuase the financial institution did not follow up on the collection process properly.Is this my responsibility as a repossession agent or is it the responsibility of the bank??The agent is only as good as the information given!! If the information is not good,then the bank needs to either obtain good information or pay somone else to...PERIOD!! Ken.
                Originally posted by JUSTRECOVERY LLC View Post
                I think forwarders have a lot to do with the Contingency problem ..... of course banks don't want to pay a close when they are already paying the forwarder their $75 -$150 fee regardless of what happens to the order even though we are the one that do the leg work and burn gas .......... Kelly picture this your boss walk's in after you have been working there for 5 years and tells you ok todays the day we are changing your pay plan ...... for now on we will only cut you a check when you can get a car repossessed and if you don't pick it up your not going to get a check even though you did hours of leg work and put in 100% effort oh and by the way we are cutting your pay 20% ...... This is what happened to our entire industry. What would you do to get a car ? Would you not do what it takes to get it picked up . The answer is YES and this is the repo man train of thought .. If I don't get this my kids don't eat thus the element of violence get the cars or go broke this is what our industry has come to .... The outlook not so good for us in the future
                Surety Recovery Service,Incorporated
                Oakland,California
                "The Recovery Specialists"
                Repossessions - Investigations - Bail Enforcement
                1-866-803-7376

                Comment


                • #38
                  Contingency

                  Sounds to mee like you are part of the problem....Ken I have charged close to $375.00 in close fees because of my time involved.It is rare,most of the time we pick up the unit!! Ken.
                  Originally posted by PRAREPO View Post
                  Who on earth pays 375 close cure pay??? I work all the time for the C word, it sucks but i am just blessed to have work and happily grinding away. I don't mind working for the C word but when i get like 20-35 bucks into it skipping them out (accurint, masterfiles etc), they close it on me and then my buddy picks it up from another repo company with my info it makes me turn a shade or two red! I would be rich if I got 50 buck close fee's and man that would be the bee's knees if I could convince these people to not send work "C" word lol. I miss the days of living large and working right with lender direct and not makign a middle man money but again in this economy I am happy to put food on the table and be alive and well!
                  Surety Recovery Service,Incorporated
                  Oakland,California
                  "The Recovery Specialists"
                  Repossessions - Investigations - Bail Enforcement
                  1-866-803-7376

                  Comment


                  • #39
                    Originally posted by FIVEPTOHH View Post
                    Yes, it is very hard to get banks to pay a close fee. I do not work for any BHPH or subprime lenders mainly because right now I have a bunch of good clients that tend to give me good information.
                    Not all BHPH work is bad in my opinion. I do recovery for all of our local BHPH lots. Most of them gather so much info when sitting and talking with a customer before selling the car that if they didn't know them previously they now know their neighbors dogs blood type before they are done. Quick picks, great information and nearly all of them pay the next day, some in cash.

                    If they don't collect good information you can sit down with them and show them what to do and they are usually incredibly grateful for the help and it makes your job that much easier 2 months down the road when those cars start going past due.

                    Comment


                    • #40
                      Originally posted by SeaKelly View Post
                      Would you say that not being provided good information on a repo is the #1 issue for recovery agents?
                      No Kelly, I wouldn't say that at all. It would be great if we were all given correct info on every file. On the other side of it, if you are a recovery agent who can not skip trace, you are just a tow truck driver. If all the info was perfect all the bank would need would be "tow truck drivers."

                      Using IRB and Google I can get a load of 25-50 cases on a given morning spend 45 minutes to an hour skip tracing them and feel very confident about every address that I am visiting. I go through this process on every case because even the best skip tracers can miss something here and there. Isn't it worth 1 or 2 minutes of your time to cover the bases that have proven to work for you in the past? Maybe the skip tracer that worked your cases doesn't know a trick you know... If you aren't doing the skip tracing yourself you can never be sure.

                      I'm more annoyed when a client throws me 7 addresses on a file and tells me to run them all and I can pull one accurint social search and see that they just copied down the top 7 addresses all in order and pretend this is skip work.

                      Comment


                      • #41
                        Originally posted by AegisRecovery View Post
                        It would be great if we were all given correct info on every file. On the other side of it, if you are a recovery agent who can not skip trace, you are just a tow truck driver. If all the info was perfect all the bank would need would be "tow truck drivers."
                        The lender should give the repossessors accurate info on the debtors leaving us with the dangerous job of getting the collateral picked up. This business of giving us 6, 7, 8, 9, 10 addresses to run without even a clue of where the debtor is at should not be the norm for cases. Although sadly it is the norm. It should not be 8 out 10 is tough case, but rather 1 in 20 or 30 or more. Lately is seems that 95% of what we get sent is some crappy skip account.

                        Comment


                        • #42
                          Skip accounts are just that. I refuse to run more than3 addresses. Addresses should be qualified. Many company's do nothing do qualify addresses. Simply giving everything on a credit header is not really skip tracing. It is only "diesel skip tracing"

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                          • #43
                            Originally posted by bigdaddy View Post
                            Lately is seems that 95% of what we get sent is some crappy skip account.
                            I agree I see it everywhere too. I guess my point is this. A lot of these accounts aren't crappy but the skip tracers were lazy. I made bank last year on old "skip files" where some in house skip tracer just copied and pasted the top addresses from accurint and called it good. I would rather be given the factual information from the original lender such as the debtors address at the time the loan was originated, the references addresses and phone numbers as well with how they are related to the debtor. You know the lender always has this info, you can get it if you beg for it. If we started with info we knew was good instead of someone copy and pasting an address that they think is a possible address because its only 2 years old on IRB and demanding that we run it to find out while they sit in their cubical, it would save us all a lot of time and fuel.

                            Comment


                            • #44
                              You got that right Ziggy. By rolling around to multiple addresses, you are field skipping for free. More than free, it is costing you. We are paid to go to an address where the lender has a more than reasonable doubt the collateral is. I had one back in December where they said the car is somewhere on XYZ Street. XYZ STREET is 80 blocks long and when I told them that they asked if I could drive it and see if I see it. That is a true sorry no BS added.

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                              • #45
                                Exactly. This is why I would rather just get the facts and do the skip tracing myself.

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