Page 85 - CARS Standard Program

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.