OCALA, Fla. -

Recovery Industry Services Co. recently learned the Illinois edition of the Certified Asset Recovery Specialist certification program has been approved by the Illinois Commerce Commission, the agency responsible for enforcement of the new Illinois Collateral Recovery Act.

RISC highlighted that Illinois is the third state to endorse the CARS program as “home study,” with Florida and Louisiana being the other two.

The company insisted both the Illinois edition and the standard CARS programs meet all the Consumer Financial Protection Bureau (CFPB) compliance requirements.

RISC has also developed numerous compliance documents required not only by the CFPB and the lending community, but also documents and training manuals for topics such as complaint handling, red flags rules, data protection, best practices and many others.

“I have reviewed your national certification extensively, and I am convinced that it is a most valuable tool in dealing with the ever rising litigation and insurance claims within the asset recovery industry,” Bogden Rentea, owner of Rentea & Associates, a law firm in Austin, Texas.

“The comprehensive curriculum contained in this program should be required study for not only those seeking to enter the asset recovery Industry, but also for those who are already a part of this profession,” Rentea continued. “I commend you for the thoroughness and professionalism you have shown in developing this unique product.”

The CARS certification program was first introduced in 1999 and has since certified more than 4,000 collateral recovery specialists.

RISC president Stamatis Ferarolis reiterated that the company is a dedicated advocate of the collateral recovery industry and one of the only national organizations that has a state licensed training facility that can develop training curriculums and business building documents for the collateral recovery profession.

“It is most gratifying to know these consummate professionals understand the real reason for the creation of the CARS program — to help collateral recovery specialists better manage the inherent risks associated with the self-help repossession process and make it a little safer for these men and women that work the streets,” Ferarolis declared.

“The program was also designed for the collateral recovery business owner to avoid costly litigation, insurance claims and reduce client liability,” he added.

Ferarolis will be together with other executives and recovery industry leaders at the Re3 Conference, which delves into the recovery, repossession and remarketing fields and is scheduled for Nov. 14.

The agenda Re3 Conference presented by PAR North America and Digital Recognition Network can be found at re3.autoremarketing.com.

Re3 takes place in the middle of Used Car Week.

Starting with the CPO Dealer Forum presented by AutoTrader.com, Used Car Week gets underway with an event designed specifically for dealers.

This intensely educational two-day gathering — held Nov. 12–13 — will shine the spotlight on the certified pre-owned industry. The nation’s top dealers will share their on-the-lot experiences with selling, pricing, sourcing and marketing their CPO vehicles.

Attendees will have opportunities to ask questions, share best practices and start conversations with dealers from across the country, leaving the event with fresh new actionable ideas for maximizing profits in their certified pre-owned sales.

Used Car Week will wrap with the National Remarketing Conference presented by SmartAuction from Nov. 14–16.
NRC — Used Car Week’s flagship event — is now in its 13th year, and it remains at the leading edge of the remarketing industry.

The NRC session is all part of the Used Car Week conferences, which are being held at The Phoenician Resort in Scottsdale, Ariz., from Nov. 12 through 16.

For three days, NRC attendees will be immersed in the big ideas, market insights and in-depth conversations that will shape the future of remarketing.

Whether they happen on the golf course or in the general session room, during a networking event or a small-group discussion, the dialogues sparked during the National Remarketing Conference will lead to solid results for your business.

Plus, an evening networking reception shared between Re3 and National Remarketing Conference attendees will offer an exceptional opportunity to continue discussions and connect with the broader industry.

Attendees can obtain an early bird discount to all of these events through Oct. 15.

More details about registration and sponsorship opportunities can be found at www.usedcarweek.biz.