Page 99 - CARS Standard Program

2. At that point an appointment should be made for the Recovery Agent to immediately proceed to the location of the collateral and secure possession. The Recovery Agent should determine if the debtor will be home and if the debtor will personally hand over the keys to the collateral or leave the keys inside the collateral. If the client requests a Voluntary Release form be signed by the debtor, the Recovery Agent should so notify the debtor and make those arrangements.
Always attempt to determine condition of the vehicle prior to arrival so the proper equipment can be used to tow the vehicle safely. Questions to ask: Are all the tires inflated? Has the vehicle been in an accident? Is the vehicle running?
Upon arriving at the location of the voluntary recovery the Recovery Agent should identify himself by name and show the debtor his identification card to satisfy the debtor that he is there legitimately.
3. If the Recovery Agent proceeds to the location given and the collateral is not there, the Recovery Agent should attempt to contact the debtor immediately. If the debtor cannot be contacted for satisfactory arrangements the Recovery Agent should immediately contact office staff for further instructions. Office staff should immediately contact the client to determine if the assignment should be changed to an Involuntary status.
4. The Recovery Agent must be sure to verify the VIN number prior to securing possession of the collateral. Upon securing possession, the Recovery Agent must report the recovery to the appropriate law enforcement agency, following the same procedure as with an Involuntary recovery. There is no distinction in law between the Voluntary or Involuntary recovery of defaulted collateral. Even though the recovery is voluntary, the Recovery Agent should check the collateral for any personal property the debtor might have forgotten.
5. The Recovery Agent is required to complete the same forms and documents that are required for Involuntary recoveries. The Personal Property Inventory sheet should contain the remark “No Property” and be signed by the Recovery Agent.
6. All forms, paperwork and documentation must be completed before the Recovery Agent is paid.
Lease Return Assignments
An important function of the recovery agency is the management of End-of-Lease returns for clients. It is important that staff treat the person returning the collateral in a professional and courteous manner, just as they would a delinquent debtor. Documentation and condition reports should be handled with the same professional and expeditious service as other recovered collateral.