Used car prices have softened in the last several months, however still remain high. Interest rates are also climbing, so consumers are having difficulty making higher monthly payments for an automobile. When the obligations fall into default, it is important to recover vehicles as quickly as possible to limit depreciation, avoid damage, unreliable maintenance, and lapse of insurance.
Whether your collateral is in the hands of your customer, a third party, or police authority, it is vital to have a strong replevin solution as part of your overall recovery strategy. In the next episode of our popular #AskaPro webinar series, we’re answering the industry's top questions on collateral recovery and replevin strategy! Join shareholders Amy Clum Holbrook
and Allen Reis
and attorney Stefanie Kempfer Collier
on October 19th
This is the perfect time to prepare your recovery strategy for 2024 and beyond. Submit your questions on this topic when you register. We’re excited to see you!
- How to prepare/respond to a call from the borrower when they get served with the replevin
- What to do when law enforcement impounds the vehicle
- How and when to sell the vehicle once it is recovered
About the Ask a Pro Series:
Weltman’s Ask a Pro Series is an ongoing, virtual Q&A featuring our own in-house attorneys and industry professionals. The series will address some of your most popular questions regarding creditors’ rights – from general best practices for your portfolio to new trends and insights, and even specific case examples.