Auto Repossessions Avalanche is Coming. Are You Ready?

August 19, 2020

Read Time: 1 min

As states are lifting the repossessions moratoria, lenders are faced with many concerns and pitfalls: from adhering to state-driven policies and procedures of handling auto repossessions to COVID-specific challenges. Lenders must proactively prepare to handle the avalanche of vehicle repossessions today.

Member Mark Edelman (Cleveland) will join Wolters Kluwer Lien Solutions on August 19, 2020 for a panel webinar to discuss the vehicle repossessions avalanche and the pitfall of repossession titling in the times of COVID-19.

Learn more.

Insights

Published Article

Post-repossession: Can a borrower ‘cure’ a default and get their car back?

May 21, 2021

Coming out of the COVID-19 pandemic, the auto finance industry will face a number of issues when it comes to self-help repossession following a borrower’s default.

Published Article

An auto repossession avalanche is coming: Are you ready?

November 13, 2020

The impact of the COVID-19 pandemic on the U.S. economy is momentous. As businesses across the country shut down to comply with stay-at-home orders, workers have been laid off at a record pace. With unprecedented unemployment rates, many borrowers are struggling to keep up with their auto financing payments.

Presentation

Regulatory / Compliance Track Legal Panel

November 19, 2020

Mark Edelman (Cleveland) will participate in a Legal Panel during the Regulatory/Compliance Track of the 24th Annual Non-Prime Auto Financing Virtual Conference on Thursday, November 19, 2020.

In the Media

What’s luring fintechs into auto lending?

July 9, 2020

Member Robert Savoie (Cleveland) was quoted in “What’s luring fintechs into auto lending?” in Auto Finance News. The article outlines various benefits that the auto finance industry offers to fintech companies, including minimal regulatory hurdles and the opportunity to diversify credit offerings.

Published Article

Repossessions during the COVID-19 pandemic

May 29, 2020

During normal times, creditors face a number of requirements when looking to exercise their self-help repossession rights in the event of a borrower’s default. Some jurisdictions have imposed additional motor vehicle repossession requirements and limitations that creditors need to be aware of as a result of the COVID-19 pandemic.