Prevailing Repossession Case Law and Repossessions by Dummies

RISC continues to provide its Agent Alliance Members with critical information that enhances their knowledge and helps insulate them against liability. We are happy to announce our latest offerings, “Prevailing Repossession Case Law” and “Repossessions by Dummies.” View Member Dashboard

We researched all 50 states to locate prevailing repossession case law for each state so that our members can access the information by logging into their membership portal.

In virtually all prevailing repossession case law regarding self-help repossession, the courts address Breach of the Peace as the basis for their decisions.

As you may know, there is no definition in the Uniform Commercial Code (UCC), federal or state law as to what constitutes a Breach of the Peace. The lawyers and judges who developed the UCC intentionally left out such a definition, preferring to leave it up to the many local and federal courts to make their own determination as to what constitutes a Breach of the Peace in their respective jurisdictions.

As a result, definitions can vary in small to greater degree in courts nationwide.

In bringing this important information to the industry we added commentary in an effort to make the case law more “reader friendly.” We will continue to add case law commentaries as cases become public. Additionally, in January 2011, Stamatis Ferarolis and Joe Taylor were invited to be part of a special training program sponsored by the American Recovery Association. The program provides classroom training to collateral recovery specialists and lenders in 12 cities across the country.

In our efforts to highlight the differences between professionals in the collateral recovery industry and individuals with no professional training, no insurance and certainly no other qualifications to service repossession assignments, Stamatis and Joe created a pamphlet titled “Repossessions by Dummies.”

This pamphlet demonstrates in stark contrast the differences between professionals and nonprofessionals with regard to public safety, the potential for violence, physical injury and litigation.

The pamphlet has been a resounding success and, as a result, we have made it available to our RISC Agent Alliance Members. We believe this pamphlet will be another invaluable tool for our members to send to their clients and prospective clients.

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