July 11, 2019

Partner Eric Johnson quoted in American Towman article on the importance of repossession education

In the July issue of American Towman magazine, author Stamatis Ferarolis, CEO/founder of Recovery Industry Services Co. (RISC), stresses the importance of education, training and continued education in the self-help repossession business. He states that ". . . the recovery agent professional needs to continue education to operate at an acceptable level. From State and Federal laws to the Uniform Commercial Code, to Privacy Protection, to skip tracing techniques, and defensive driving, the requirement to understand important information is significant."

RISC provides agents with a comprehensive certification program called CARS (Certified Asset Recovery Specialist). Hudson Cook Partner Eric Johnson, who has partnered with RISC to update the program, agreed with Stamatis' assessment of the importance of education. "Being educated through a quality program ensures the repossession agent understands the laws to protect himself, his employer, the creditor, and the consumer," Eric said. "Any violation by an agent is ultimately paid for by the business owner and the creditor."

Eric is a partner in the firm's Oklahoma office. He assists national and state banks, savings associations, credit unions, mortgage bankers, other licensed lenders, motor vehicles dealers and automotive finance companies in the development and maintenance of nationwide consumer mortgage and automobile finance programs; online motor vehicle sales programs; litigation funding programs; and electronic payment programs.

Click here to read the American Towman article on page 70.