RISC Announces BHPH Collateral Recovery Certification Program
In keeping with its goal of serving all professionals within the collateral recovery industry, RISC has formally introduced the BHPH (Buy Here-Pay Here) Collateral Recovery Certification Program on October 22, 2012, at the National Alliance of Buy Here, Pay Here Dealers (NABD) East Coast Conference in Atlanta, Georgia.
This comprehensive certification program has been endorsed by the NABD and is designed for Buy Here-Pay Here auto dealers that service their own in-house repossessions. The program covers all aspects of the self-help repossession process, including applicable federal and state laws.
Courts are holding lenders directly liable for the acts of individuals they hire to service repossessions. It is vital that those who offer automobile financing and those who perform self-help repossession services have the knowledge and professional expertise to manage the inherent risks associated with the self-help repossession process.
As an advocate for those involved with the self-help repossession process, RISC wishes to see that only certified, insured recovery agents handle recoveries. That is paramount to ensure the safety of the employee and general public, and will only happen through proper training.
For BHPH automobile dealers and those dealers considering handling their own in-house repossessions, the BHPH Collateral Recovery Certification Program will be vital in ensuring they make the right decisions to mitigate the inherent risks.