Category: News

C.A.R.S. Has Been Approved In Illinois

RISC is proud to announce the Illinois Edition of the C.A.R.S. – Certified Asset Recovery Specialist certification program has been approved by the Illinois Commerce Commission (ICC). The ICC is responsible for enforcement of the new Illinois Collateral Recovery Act.

Illinois is the third State to endorse the C.A.R.S. program as ‘home study’, with Florida and Louisiana being the other two. RISC Continuing Education courses have also been approved for ‘home study’ by the State of Louisiana.

Both the Illinois Edition and the standard C.A.R.S. programs meets all the Consumer Financial Protection Bureau (CFPB) compliance requirements.

The C.A.R.S. certification program was first introduced in 1999 and has since certified more than 4,000 collateral recovery specialists. Bogden Rentea, one of the most knowledgeable lawyers of the self-help repossession process states, “I have reviewed your National Certification extensively and I am convinced that it is a most valuable “tool” in dealing with the ever rising litigation and insurance claims within the Asset Recovery Industry. The comprehensive curriculum contained in this program should be required study for not only those seeking to enter the Asset Recovery Industry, but also for those who are already a part of this profession. I commend you for the thoroughness and professionalism you have shown in developing this unique product.” There are numerous additional endorsements and recommendations by well-known collateral recovery industry leaders which can be viewed on our website, RiscUS.com.

It is most gratifying to know these consummate professionals understand the real reason for the creation of the C.A.R.S. program; to help collateral recovery specialists better manage the “inherent” risks associated with the self-help repossession process and make it a little safer for these men and women that “work the streets”. The program was also designed for the collateral recovery business owner to avoid costly litigation, insurance claims, and reduce client liability.

RISC has also developed numerous compliance documents required by the CFPB and the lending community, including important documents and training manuals such as Complaint Handling, Red Flags Rules, Data Protection, Best Practices, and many others. RISC is a dedicated advocate of the collateral recovery industry and is the only national organization that has a state licensed training facility that develops training curriculums and business building documents for the collateral recovery profession.

Agent Alliance Membership Info | CARS Program Info

Gain valuable knowledge, training and become nationally certified through the only accredited skip-tracing certification program in the country: the Skip-Tracers National Certification Program.

The Professional Bail Agents of the United States (PBUS) has added a new benefit for its active members. The Skip-Tracers National Certification Program, voted in the top 25 continuing education programs by PINOW.COM, combines tried-and-true, old-school skip-tracing techniques with the best of today’s technology. The course builds a solid foundation for someone brand new to the industry, yet it also equips a seasoned veteran with new tools and relatively unknown tricks of the trade.

PBUS has joined forces with Master Skip-Tracer, Alex Price, to utilize his nearly 30 years of experience in the industry to offer this national educational curriculum to advance their members’ skills and success.

For those who don’t know Alex Price, he is a nationally-recognized expert on the Art of Skip-Tracing, with over 25+ years of experience in skip-tracing, collections and educational training. Currently he is the National Sales and Training Manager for MasterFiles, the nation’s leader in front-end validation and skip-tracing data.

In addition to receiving national certification, those who enroll in the certification program will also receive two additional and invaluable e-books: the Military Locator Guide and the Florida Records Guide.

Due to the mass and complexity of various Federal Laws affecting data security, pre-texting, rights of military personnel, etc., the training provided through this course is essential to the work of skip-tracers in any phase of their career. We are convinced that the Skip-Tracers National Certification Program will be an invaluable tool to enhance the ability of skip-tracing pros to serve their clients/employers with competence and professionalism.

Alex will be offering the certification course at the 2013 PBUS winter conference at the Mirage. Don’t miss the opportunity to become a nationally certified skip-tracer!

To order your program today, use this convenient link: https://www.riscus.com/Education/SkipTracing Or call: 866-996-7472

By design RISC has been at the forefront of training and compliance.  The foundation of RISC is to increase the knowledge and proficiency of the recovery agency owner and respective employees through risk mitigation by thorough and continual training.

Wecontinue to create the latest and most up to date  training manuals, documents, and procedures that meet the evolving compliance requirements of the collateral recovery Industry and now the CFPB.  And, insomuch as the CFPB compliance requirements continue to evolve, RISC remains very actively involved in having our compliance documents and educational programs continually updated so that RISC Agent Alliance members are assured that they meet the very latest in compliance and educational standards.

Compliance-Complaint Checklist

Our latest document that meets CFPB requirements is the Compliance-Complaint Checklist.  After review of our training programs by a law firm that specializes in reviewing and evaluating CFPB compliance issues, we have been assured that the C.A.R.S. National Certification Program coupled with the Compliance-Compliant Checklist along with staying current with updates on compliance requirements puts a collateral recovery agency in a position to successfully meet the requirements of the CFPB and good business practices in general.

Since there are no clear cut guidelines offered by the CFPB on compliance issues RISC sought the assistance of a nationally known law firm to further solidify what we believed to be the basis of compliance.  Now, a RISC Agent Alliance Member can take advantage of the compliance documents we offer by logging into their membership portal and downloading these valuable documents. View Screenshot

Voluntary – Involuntary Repossessions State by State

Additionally, RISC has completed research regarding how voluntary repossessions are addressed in those states that require some type of licensing or bonding in order to service repossession assignments.  The importance of this document is that it not only outlines those states that require some type of licensing but has examples of why only a professionally trained and properly insured collateral recovery specialist should be called upon to perform this type of work.  This document is meant as a training aide and a marketing tool to be given to your client.  Towers and auto auctions should not be recovering voluntary repossessions unless trained and insured to handle them appropriately and safely.

Disaster Planning Guide & Check List

RISC has also added checklist forms that outline ‘disaster preparations’.  These forms were designed by a global insurance company specifically to handle preparations in the event of a catastrophe or sudden disaster.View Screenshot

As we continue looking for enhancements to the RISC Agent Alliance Member Profile there is now an option to add your company logo to the profile on the RISC website and to the marketing PDF.  More enhancements will continue.  We appreciate your support.

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For those who don’t know Alex Price, he is a nationally-recognized expert on the Art of Skip Tracing, with over 25+ years of experience in skip-tracing, collections and training. The program provides skip tracing services undergo the training to understand the various federal laws affecting data security, pre-texting, military personnel, etc.

The program provides skip tracing services undergo the training to understand the various federal laws affecting data security, pre-texting, military personnel, etc. This program, assisted in training conjunction with RISC, was created in the effort that the “Skip-Tracers National Certification Program” would provide relevant and comprehensive training to serve as an invaluable tool to enhance the students ability to serve their clients professionally and competently.

To Order your program today: https://www.riscus.com/Education/ProductDetail/logo-skip-tracing. Or call 866-996-7472

RISC has added another benefit for our members. It’s called “Pay as you Go”.

Considering the fluctuations in the marketplace along with the reduced volume of recoveries RISC has added an option for members to pay their annual membership dues on a monthly basis.

By paying monthly the member can take advantage of all our membership benefits while managing cash flow needs. However, by paying the annual rate upon membership acceptance, the member would realize a 20% discount off the cost of the monthly rate.

This new product was developed after countless conversations we’ve had with recovery agency owners over the past few months. Our mission at RISC is to continually provide valuable business products to our members and we hope this does just that.

More Info on Becoming a RISC Agent Alliance Member »

In our continuing efforts to bring a higher level of professionalism to the industries we serve we are proud to introduce the Skip-Tracers National Certification Program.

In conjunction with Alex Price, RISC was excited at the challenge of bringing his years of experience as a Master Skip Tracer to the Industry in the form of a national educational curriculum.

For those who don’t know Alex Price, he is a nationally-recognized expert on the Art of Skip Tracing, with over 25+ years of experience in skip-tracing, collections and training.

In addition to receiving national certification, those who enroll in the course will also receive at no cost two additional and invaluable tools; the Military Locator Guide and the Florida Records Guide.

This one of a kind program will be formerly introduced at NARS – The North American Recovery Summit on March 24, 2012.

It is imperative that those who provide skip tracing services undergo the training to understand the various federal laws affecting data security, pre-texting, military personnel, etc. We are convinced that the Skip-Tracers National Certification Program will provide this training and will be an invaluable tool to enhance their ability to serve their clients professionally and competently.

And for RISC Agent Alliance Members we’ve added the ‘Skip Tracers Guide Form’ to the Best Practices – Business Forms area. This document walks you through step by step on how to best skip-trace someone.

To learn more about this program and register for the course please visit our website at: https://www.riscus.com/Education/ProductDetail/logo-skip-tracing.

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.

RISC is proud to announce that we have added another Continuing Education Training course entitled Data Security – Protecting NPPI (Non-public Personal Information). As you may know, data security in the lending and collateral recovery industry is the new “hot button” issue facing both industries.

Every day we read about data security breaches, including identity theft and the illegal use of Non-Public Personal Information (NPPI). Many of these violations have disastrous and very costly results. As a result, lenders are beginning to require the collateral recovery specialist they hire, show proof that they have a data security plan in effect and that the plan complies with the Gramm, Leach, Bliley Act (GLBA) Final Rules.

The Data Security Plan in Continuing Education Course 8 meets the criteria you will need to comply with your clients requirements. Our research indicates that a collateral recovery specialist would pay beyond $500 for a comparable data security plan. As you know, the cost of our Continuing Education Courses are only $99 each, which makes our Data Security Plan an invaluable and inexpensive tool. Our education programs are even less expensive for a RISC Agent Alliance Member. Enroll in CE 8 – Data Security Now

And, within the next few weeks RISC will be publishing the Skip Tracers National Certification Program. This one of a kind training program is the result of the efforts of our staff working with Alex Price whose extensive experience and knowledge of the Skip-Tracing profession is nationally recognized. The program will be a comprehensive national certification program for those skip-tracers who want to take their profession to the next level. This program will also include a Florida Skip Tracers Guide and a Military Locator Guide.

RISC – Recovery Industry Services Company is pleased to announce our creation of a Red Flags Rule Template for the collateral recovery industry. It is free to all RISC Agent Alliance Members and only available to RISC Agent Alliance Members.

The Red Flag Rules is the highest level of Data Security guidelines required of the financial community by the Federal Trade Commission (FTC) and related federal agencies.

As “business Associates”, collateral recovery specialists are also required to meet these guidelines to protect Nonpublic Personal Information (NPPI). Until now, collateral recovery specialists have found it a daunting and expensive process to develop, or purchase Red Flags Rule compliance because federal regulations do not provide a specific, easy to read process for creating a Data Security plan.

In creating a “reader friendly” Red Flags Rule Template, RISC is providing yet another “tool” in helping RISC Agent Alliance Members meet the federal requirements and the Data Security requirements of the lending community they serve.

As a RISC Agent Alliance member you can access this important document by logging into your profile. From there you can simply download the document for your use. View Screenshot

In addition RISC has created a Data Security Manual and test that will outline a Breach Preparedness Program to further help you achieve and maintain compliance with the Federal Trade Commission’s (FTC) Red Flags Rule.

This program will be available to the entire collateral recovery industry within the next few weeks.

Last week PAR North America announced that effective January 1, 2012 all PAR agents will be required to submit proof of certification training.

RISC manages and offers the C.A.R.S. – Certified Asset Recovery Specialist program, which meets and exceeds their training requirement. C.A.R.S. is the oldest and most comprehensive program offered to the collateral recovery industry. It has been accepted as home study in the States of FL, IL, and LA. It’s the only training program that can boast this. Clients and industry leaders like DRN have endorsed the C.A.R.S. program for years as well.

You may register for the course at: https://www.riscus.com/Education/EcomCars

You can also read below some of the recent testimonials we’ve received from clients and graduates:

“The CARS curriculum not only provides our staff with a thorough understanding of the industry and recovery field operations, enabling us to strengthen our partnership with the recovery agents, it also provides our staff with the knowledge necessary to effectively manage the recovery operations on behalf of our lienholder clients.”

“I have read, researched and taken many educational courses on countless subjects pertaining to the recovery process. Never have I come across anything so meaningful and so structured, easy to read and cross reference. Not only does this cover all applicable laws and regulations, but it provides meaningful scenarios and helpful information for everyone in the recovery industry, from business owner, to agent/drivers, to office staff.”

“A program we often suggest to Vendors and is accepted throughout the Industry is the Certified Asset Recovery Specialist or C.A.R.S. Certification program offered by RISC – Recovery Industry Service Company. This program is offered in 3 versions: National, FL Version & CA Version.”

RISC is recognized within the Recovery Industry as a leader in the risk management field. RISC provides services exclusively to the collateral recovery industry including: education, training and certification, seminars, consulting, locksmith training, locksmith supplies, automotive key codes, membership and discount programs, and a $1 Million fidelity bond for members of the RISC Agent Alliance.