Financial

EL DORADO HILLS, Calif. — John Lewis' repossession career began as a field representative with Chrysler Credit back in 1982, and he has since been involved nearly all aspects of the recovery industry in California and beyond. Looking at how the industry behaves now is why this veteran is seeking to clarify what makes agencies reputable […] [Read More]

SHAKER HEIGHTS, Ohio — A violent crime reportedly committed in northeast Ohio is proving again how dangerous the repossession business can be. The U.S. Marshal's Office and two local police departments have a reward available in connection with the search for a woman who, among her long list of charges, allegedly conspired with two other men to […] [Read More]

BLOOMFIELD HILLS, Mich. — QEK Global Solutions, a proprietary asset management software provider to several automakers, announced the return of an executive who previously spent more than 10 years at the company. Taking on the role as the vice president of strategic sales is Craig Cheatle, who worked at QEK from 1992 through 2004. All told, QEK […] [Read More]

IRVINE, Calif. — Autobytel's board of directors has instituted a Tax Benefit Preservation Plan that officials said would help the company maintain its use of net operating losses, which can be beneficial when it comes to federal taxes. Specifically, Autobytel claims this plan aims "to reduce the likelihood that Autobytel's use of its net operating losses, loss […] [Read More]

CITRUS HEIGHTS, Calif. — Do you hear the alarm bells ringing in credit union board rooms across the nation? As deficiency balances increase, credit unions are searching for better ways to dispose of their inventories quickly and at the highest possible net return. "Credit Unions are trying all sorts of creative ways to get the most […] [Read More]

NEW YORK — Mayor Michael Bloomberg and the city's department of consumer affairs recently announced new debt collection regulations that govern all industry segments, including recovery agents. According to the new regulations that cover all five of the city's boroughs, collection and recovery agents now must provide proof the debt is owed at the consumer's request. City […] [Read More]

PARK RIDGE, N.J. — The acquisition of Dollar Thrifty Automotive Group by Hertz Global Holdings took another step toward coming to fruition late last week. Officials from the companies revealed that they have filed a notification and report form with federal antitrust authorities under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 "We look forward to obtaining […] [Read More]

MOBILE, Ala. — As the song says, "a little help from my friends …" it has been said that a skip-tracer is only as good as his contacts, and I firmly believe that is 100 percent true. Several years ago, I was watching a movie about the first group of FBI profilers and how they worked […] [Read More]

DALLAS — Fortum Corp., a provider of license-plate recognition technology to the repossession and recovery industry, has just rolled out a program that includes a free camera system for approved agents. Company executives explained that along with the two-camera LPR system, agents also can become part of Fortum Recovery's national forwarding network. They indicated this status […] [Read More]

WASHINGTON, D.C. — The National Automobile Dealers Association repeated its petition late Tuesday for its membership to reach out to members of the U.S. Senate. The plea comes as crucial legislation that some argue would significantly impact dealer-assisted financing and more is about to be put to a vote sometime this week, with some expecting the vote to come […] [Read More]