Page 86 - Microsoft Word - NEW 2017 Standard Program.docx

A situation where the debtor (or third party) suddenly appears and confronts the Recovery
Agent in the process of repossession requires a very high level of communication skills.
Additionally, being confronted by a debtor who is a drug user or drug dealer, a debtor who
has a propensity for violence or one who may display a weapon or make verbal threats
of violence requires a Recovery Agent to have the ability to handle such situations with
skill and professionalism and be able to either defuse the danger or retreat.

3. Investigative Skills and Determination: The hours of collateral recovery activity are
long and varied, and many times the collateral is located long distances from the
Recovery Agent’s office. Numerous occasions arise where the Recovery Agent has
driven many miles only to find that the debtor no longer lives or works at the location
supplied by the creditor, thus requiring the Recovery Agent to attempt to determine
the debtor’s new location. The Recovery Agent must have the expertise to interview
ex-neighbors, friends, relatives, ex-employers, etc., while adhering to laws regarding
an individual’s non-public private information (NPPI). The Recovery Agent should
also be familiar with utilities companies (electric, water, etc.) which are required
by law to give out information on their customers and how to develop “confidential”
sources. It is important to know how to make every legitimate effort to locate and
secure possession of the collateral without incurring liability to the Recovery Agent,
the creditor, the Recovery Agency owner or insurance carrier.

4. Professional Driving Skills: Approximately 50% of all insurance claims within the
recovery industry are the result of accidents involving the tow truck or the
repossessed collateral. It is clear that securing possession of the collateral does not
end the process if the collateral is to be delivered to storage safely and undamaged. It
is imperative that the Recovery Agent be well trained in the safe operation of towing
equipment. The Recovery Agent must also be knowledgeable of which vehicles can
be transported by tow truck and which must be transported by flatbed, such as “all-
wheel drive” automobiles. Because of the tremendous potential for loss or damage in
the transportation process, we have included an in-depth section (Section 10) on the
operation of towing equipment and techniques for safe and professional defensive
driving.

5. Knowledge of Laws: Federal, state and local laws can be passed, changed or
deregulated. Further, there may be different interpretations of these laws in different
states. The Recovery Agent should be knowledgeable of the various regulations in
his area of operation and work to ensure that the various legislative bodies in his area
do not attempt to impose unfair restrictions on the collateral recovery industry.

These are only a few of the many skills in which the Recovery Agent must become
proficient in to be successful. As with any profession, there must be a continuous quest for
knowledge and a desire to increase ability. Failure to do so can be dangerous and costly.