Page 91 - CARS Standard Program

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.