Page 144 - CARS Standard Program

FORMS
Most of the forms included in this section are probably already familiar to the field Recovery Agent and need no further explanation. They may be used every day, some with every repossession assignment. However, there are several that may be new to many recovery agency owners and we will elaborate on those.
RISC, LLC hereby grants permission for the reproduction of any of the forms contained in this section, Section 13, but only in this section. Any party wishing to reproduce and use the forms provided herein does so at their own discretion. Please consult your state and local regulations or an attorney to determine the language most appropriate to your area of operation.
1. Acknowledgement Letter (Form A)
One of the most important elements of the repossession process is acknowledging to the client that their request for repossession has been received along with the parameters under which the assignment will be handled. It is added protection for the recovery agency owner in the event a disagreement occurs between the recovery agency owner and the creditor as to their responsibilities. A clear understanding between the parties is crucial to a good working relationship.
2. Authority to Recover Collateral from Military Installation (Form C)
This form should be used when recovering collateral from military installations and when the Recovery Agent is accompanied by military police. In the absence of such notification, the Recovery Agent could be subject to a violation of the 14th Amendment to the U.S. Constitution.
3. Hold Harmless Agreement (Form E)
You may encounter smaller finance companies or automobile dealers that finance some of the collateral they sell. They may not be familiar with this very important form. In those instances, it is important for the recovery agency to be able to supply one.
4. Affidavit of Missing Personal Property (Form I)
Anyone who has been in the collateral recovery business for any length of time can tell of incidents where an angry debtor claims the “$10,000 diamond ring” or the “hundreds” of dollars left in the collateral is now “missing.” These situations can be distressing and sometimes costly to the recovery agency owner if the proper procedure (Chain of Custody) for handling personal property has not been followed.
The Affidavit of Missing Personal Property Form can be designed for any collateral recovery agency and has been proven to be highly effective in deterring false claims by disgruntled debtors.
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