Recent Blog Posts

Due Diligence Open House & Lunch – April 16

“Compliance” is a buzzword in the lending industry right now, but what does it mean? New CFPB regulations mean that you, the lender, can be held legally liable if you’re using a third party vendor who does not meet government standards for information security, licensing, complaint tracking, and a host of other new rules. Are you up to speed on what’s required? Come to our open house on April 16 and learn what it takes to be a fully CFPB compliant vendor. Do your “due diligence” all in one place, all in one day – we’ll guide you through what…

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The C.A.R.S. Difference – Why we’re the BEST repossession company in Southern California

Let’s face it – there are a lot of people out there who claim that they are the “best” at this, that, or the other thing. But how many of them can prove it? We think we’re the best choice out there, and we’re not afraid to tell you exactly why. Higher Recovery Rate Many forwarding companies boast a recovery rate of somewhere between 30-40%. That means for every ten accounts you assign, you’ll recover three. That seems pretty low, doesn’t it? So far this year, C.A.R.S. has averaged a recovery rate right around 60%. That’s almost twice the amount of…

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How do I read a VIN (and what does it mean)?

A Vehicle Identification Number (commonly called a VIN) is a seventeen digit string of numbers that the manufacturer assigns to a specific vehicle. All vehicles manufactured after 1981 have this long number on the vehicle itself – usually stamped on a plate on the dashboard – near the windshield – or on the driver’s side doorjamb. It can also be found on the engine’s firewall. The VIN is the first and best way to identify a vehicle that you’re looking for, but it can also tell you a multitude of other things about the vehicle. It’s sort of like a…

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How well do you know your repossession company?

Trying to find a reputable and professional company to handle your repossessions can be difficult. It’s easy to just look solely at the dollar amount, but what exactly are you paying for? Especially with the advent of the Consumer Financial Protection Bureau’s (CFPB) regulations, it’s important that you know just about everything about your ‘repo man’. Violations of debtor’s rights may be committed by your third-party vendor, but you can end up with the liability because you did not do your due diligence before sending out the work. Don’t be afraid to set aside some time to review and interview…

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