A former president of ACA International, the Association of Credit and Collection Professionals, is one of the main presenters for a series of four training programs meant to create “collection superstars.” Officials from insideARM.com have rolled out ARM Summer School — a program that is broken up into a four-course learning experience for supervisors and […] [Read More]

A problem the executive director of Time Finance Adjusters believes many hard-working, reputable repossession agencies are facing nowadays is becoming more evident as the economy slowly struggles to right itself. During a gathering of veteran agents, Ron Brown shared that he “was very surprised that many guys did not know what they’re daily expenses were […] [Read More]

Thanks to efforts made to trim costs and interest expense, Calgary, Alberta-based Quorum Information Technologies saw a significant lift in its pre-tax net income during the first quarter of fiscal 2011 after recording a loss in the same period a year ago. Specifically, Quorum pulled in $102,000 in net income before taxes during the period, […] [Read More]

Group 1 Automotive announced this week it has completed a $1.35-billion five-year revolving syndicated credit facility with 21 financial institutions. The company said this new facility expires in June 2016 and can be expanded to $1.6 billion total availability. Executives highlighted the revolving facility will provide $1.1 billion for inventory floor plan financing. They added […] [Read More]

Following what has been some rather challenging times recently, Saab revealed some more good news on Monday.  The company announced the signing of final agreements securing investments with China’s auto dealership chain Pang Da Automobile Trade Co. and automaker Zhejiang Youngman Lotus Automobile Co. that have been in the works since last month. The company […] [Read More]

Under a partnership between the two companies announced Tuesday afternoon, Japanese conglomerate Marubeni Corp. will obtain a 20-percent share of Westlake Financial Services. The deal, which closed Friday, is valued at $250 million in newly issued equity. In addition to owning a fifth of Westlake, Marubeni will also have two executive board seats. [Read More]

While Capital One Auto Finance president Kevin Borgmann said his division is looking to bring on new dealer partners and hire new associates, he also revealed the company’s collateral has been earning record prices at auctions. This isn’t a trend the management expects long term, though. "As the economy continues to improve, we are seeing […] [Read More]

Repo agencies and other debt collectors readily acknowledge that using newer communications outlets such as email, text messages or even Facebook might be a strong pathway to reaching the debtor and collateral. But a pair of legal experts warned agents and collectors about the pitfalls that could come by using these communication methods incorrectly. John […] [Read More]

MVTRAC has formalized a strategic alliance with National Creditors Connection, a field contact services specialist. As the newest member of the MVTRAC Network, executives explained NCCI will assume on-site inspection responsibilities for the license plate recognition technology provider. MVTRAC highlighted that NCCI specializes in customer contact and information gathering through personal face-to-face contact solutions. Comprised […] [Read More]

The Federal Reserve confirmed Monday that automotive dealers are temporarily exempt from collecting and reporting information to the government on credit applications from women or minority-owned businesses and small businesses. This requirement falls under Regulation B (Equal Credit Opportunity) and was added as a section under the Dodd-Frank Act. [Read More]