Compliance information
At sensible recovery solutions we are committed to adhering to all regulatory requirements and maintaining high ethical standards in our repossession forwarding operations.
Licensing and Registration
No specific state repossession license is required, but comply with local licensing requirements.
Peaceful Repossession
All repossessions must occur peacefully, without force or threats.
Post-Repossession Notification
A Notice of Right to Redeem must be sent within 10 days, detailing redemption amounts and deadlines.
Handling Personal Property
Debtors will receive notification and reasonable time (about 10 days) to retrieve personal belongings left in the vehicle.
Vehicle Storage and Sale
Vehicles will be sold publicly if the debtor has paid 60% or more of the loan, with any surplus returned to the debtor.
Business Practices
We maintain thorough documentation, provide employee training on laws, and carry bond insurance for consumer protection.
Ethical Conduct
Adhere to industry regulations set by the CFPB, FTC, and FDCPA, ensuring accurate communication and compliance with debt collection.