Customized Credit union Solution
A Repossession Management Service for Credit Unions
ALS Resolvion's credit union service is a premier loss mitigation solution for credit unions throughout the country. We provide a member-focused repossession process that makes compliance, speedy recovery, and efficient transportation the main focal points.
Rapid Recovery + Member Focused Customer Service
A Repossession Program That Respects Your Member Relationship
We deliver an unbeatable repossession compliance program for credit unions. This program was built from the ground up to satisfy the demands of both state and federal regulators. Repossession is a tricky business and there is always the potential for problems. However, with our industry leading program, the risk is minimized.
Our large size gives us both buying power and efficiencies that we pass on to your organization in the form of lower repossession and ancillary service costs.
We understand that many credit unions have long standing relationships with local repossession agents and we don’t want to get in the way of those relationships. Utilizing our customized Skip Trace program allows you to have the best of both worlds.
Industry data is very clear. Once a repossession agent has worked a case for 21 days, the recovery rate after that points is typically 6%-8%. Simply rotate those cases to us after the agent has had the opportunity. Our team of expert skip tracers and network of over 750 fully vetted, contracted, and monitored agents have the tools to responsibly repossess a vehicle in full compliance. By utilizing this strategy, our credit union clients are able to avoid charging off loans and the negative impact on insurance claim experience.
Our credit union LPR Program is designed to run concurrently with your primary recovery strategy. We understand how important your direct agent relationships are! Our program allows all of your repossession assignments to exist within the "live" LPR system as a supplemental strategy. While a direct agent focuses on addresses, LPR focuses on everywhere else to ultimately lower your average days to repo. Our large LPR scan density sets us apart from competitors.
Credit Union Specific Insights
There are many variations to repossession strategies but the one that generally gets the best auto recovery results for credit unions has 5 simple elements. Multiple repo agents or repossession management firms (forwarders) Relatively short assignment durations Multiple rotations for pre-charge off and post charge off Frequent and transparent scorecards A process for rewarding and…Read More
From our position as a national repossession management firm in the industry, we have been exposed to virtually every type of vendor scorecard model in use. Some of these models focus solely on recovery performance, while there are some that focus deeply and more diligently on regulatory/SOW compliance. Regardless of the depth of the scorecard…Read More
There are 4 factors that cause current and future constraints in the repossession industry that impacts auto lenders, repossession management companies, and recovery agents. Over the next decade, these factors will continue to put pressure on the industry. Increasing State and Federal Regulation: The repossession industry has undergone tremendous change over the last ten years…Read More
FOR IMMEDIATE RELEASE 3/11/2019 – CHARLOTTE, NC – ALS Resolvion, the nations’ leading CFPB compliant repossession forwarding, skip tracing and license plate recognition LPR) staging technology leader, has been providing best in the industry scorecards and results for the biggest lenders in the auto finance industry for many years. With the addition of ALS Resolvion’s…Read More
Note: The article was written by ALS Resolvion with the input and data provided by the American Recovery Association. Over the past year, there has been a great deal of discussion about the fees related to the removal and storage of personal property. The issue has resulted in significant changes by most lenders as…Read More
As one of the top repossession management firms in the country, we work with some of the largest credit unions. Doing so has given us deep insight into the strategies deployed by many different lenders. With many leading credit unions, this strategy has been highly refined over the years and is constantly being adjusted to maximize…Read More
Written by Steve Schroeder as part of the ALS Resolvion Insights Series Statement of the Problem Several factors converge to cause current and future constraints in the repossession industry that will impact lenders, forwarders (also known as repossession management companies) and agencies alike. These factors will continue to increase in relevance over the next five…Read More
Author: Marcie Belles Source: Auto Finance News With auto loan delinquency rates rising, it would seem to be a good time to be a repossessor. But that’s not the case. Tow truck and vehicle insurance prices are climbing; license, bond, and other compliance-related costs are increasing; technology spending — to boost internal efficiencies and…Read More