Page 100 - Microsoft Word - NEW 2017 Standard Program.docx

2. At that point an appointment should be made for the Recovery Agent to
immediately proceed to the location of the collateral and secure possession. The
Recovery Agent should determine if the debtor will be home and if the debtor will
personally hand over the keys to the collateral or leave the keys inside the
collateral. If the client requests a Voluntary Release form be signed by the debtor,
the Recovery Agent should so notify the debtor and make those arrangements.
Always attempt to determine condition of the vehicle prior to arrival so the proper
equipment can be used to tow the vehicle safely. Questions to ask: Are all the tires
inflated? Has the vehicle been in an accident? Is the vehicle running?

Upon arriving at the location of the voluntary recovery the Recovery Agent should identify
himself by name and show the debtor his identification card to satisfy the debtor that he is
there legitimately.

3. If the Recovery Agent proceeds to the location given and the collateral is not
there, the Recovery Agent should attempt to contact the debtor immediately. If the
debtor cannot be contacted for satisfactory arrangements the Recovery Agent
should immediately contact office staff for further instructions. Office staff should
immediately contact the client to determine if the assignment should be changed
to an Involuntary status.
4. The Recovery Agent must be sure to verify the VIN number prior to securing
possession of the collateral. Upon securing possession, the Recovery Agent must
report the recovery to the appropriate law enforcement agency, following the same
procedure as with an Involuntary recovery. There is no distinction in law
between the Voluntary or Involuntary recovery of defaulted collateral. Even
though the recovery is voluntary, the Recovery Agent should check the collateral
for any personal property the debtor might have forgotten.
5. The Recovery Agent is required to complete the same forms and documents that
are required for Involuntary recoveries. The Personal Property Inventory sheet
should contain the remark “No Property” and be signed by the Recovery Agent.
6. All forms, paperwork and documentation must be completed before the Recovery
Agent is paid.

Lease Return Assignments
An important function of the recovery agency is the management of End-of-Lease returns
for clients. It is important that staff treat the person returning the collateral in a
professional and courteous manner, just as they would a delinquent debtor. Documentation
and condition reports should be handled with the same professional and expeditious
service as other recovered collateral.