Page 92 - Microsoft Word - NEW 2017 Standard Program.docx

to a default in your finance contract.” Continuing to use good communication skills and a
professional demeanor, the Recovery Agent explains, “I will take the truck to
protected storage as authorized by (name of creditor). If you desire, you
can then contact (name of creditor) in an effort to redeem the vehicle.
You are not required to contact the (name of creditor) but you have the right to
do so if you desire. If you decide not to contact (name of creditor) then they have the
right to dispose of the vehicle.”

“Mr. Adams, you also have the right to remove all your personal property. If you elect
not to remove your property here, as soon as I reach the storage facility I am required by
law to inventory all your personal property and hold it in a safe place for you. If you
decide not to redeem your truck you can call our office and make an appointment to come
in and pick up your personal property.”

Clearly, in the second example, the Recovery Agent approached the debtor properly,
identified himself and communicated with the debtor in a professional, respectful manner.
Just as importantly, the Recovery Agent did not place the debtor in a “corner” but explained
the possibility of redeeming the collateral. Further, although it is preferable for the debtor
to remove personal property, the Recovery Agent showed additional consideration for the
debtor’s plight. This Recovery Agent recognizes the benefits of the four “Cs”: Courtesy,
Communication and Compassion equals Compensation.
Note: Remember, your identification card lends legitimacy to act on behalf of the
creditor (your client) and your communication skills are critical in convincing the
debtor to allow the repossession.

Involuntary Repossession Scenarios

Note: These Scenarios are referred to in the final exam
Scenario 1:
The collateral is located in debtor’s driveway and the Recovery Agent is in the process of
hooking the collateral to his tow truck when the debtor runs out of the residence shouting
at the Recovery Agent, “You can’t take my car!” The Recovery Agent should maintain
a professional demeanor, identify himself by name, show his identification card and
follow the instructions in Example 2 above. This is a situation where the Recovery
Agent’s communication skills and calm and professional demeanor are critical to a
successful recovery.

However, if the debtor refuses to allow the collateral to be taken, the Recovery
Agent must leave the collateral for another day. To continue the repossession under
these circumstances invites a potential charge of Breach of the Peace and/or other
charges, which could result in litigation for Wrongful Repossession.