How Does Bankruptcy Affect Repossession?
Of all the questions TIADA receives through the Compliance Consultation Service, repossession issues make up a significant portion. In particular, lienholders want to know what they can do when a customer files for bankruptcy protection. In our latest blog post, we examine the two most frequently asked bankruptcy questions and provide brief answers. For a more detailed explanation and answers to the many other thorny repossession issues, check out TIADA's next virtual workshop - Repossession and Bankruptcy Basics presented by TIADA General Counsel Michael W. Dunagan. Find more information and the registration link in the write-up below.
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Virtual Workshop: Repossession & Bankruptcy Basics
Presented by Michael W. Dunagan
TIADA General Counsel
Thursday, October 26
Online - 11:00 a.m.
The threat of repossession, or a completed repossession, is frequently the "trigger" that results in a customer filing for bankruptcy protection. Mike is an expert on repossession law. This virtual workshop will cover the basics of repossession law in Texas, how repossession is treated under the Bankruptcy Code and how dealers can protect their investments without putting themselves at legal risk.
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Does the Sale or Loan of a Vehicle Create Dealer Liability?
TIADA often receives inquiries from member dealers who have been threatened with a lawsuit, or actually sued, by someone who claims the dealer is responsible for an accident caused by the dealer's uninsured customer. These calls raise two questions: (1) as a lien holder, do I have an obligation to make sure that my buyer has liability insurance; and (2) do I have liability if the buyer causes an accident?
In this blog post, TIADA General Counsel Michael W. Dunagan answers these questions and discusses a recent Texas Supreme Court case concerning the issue where TIADA and other state associations fought for the rights of dealers.
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Collect the Cash, Not the Car
Presented by Brent Carmichael
Executive Conference Moderator,
20 Groups, NCM Associates, Inc.
Monday, November 6
Dallas
This has been a challenging year in the Buy-Here, Pay-Here industry, aided by another odd tax season and increased apathy by our customers in regards to their payments. Dealers are finding that every collection opportunity needs to be capitalized on and that's where this seminar can help. Collect the Cash, Not the Car is designed to help you and your collection teams maximize your collection opportunities.
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Find Vehicles with the 2017 Inventory Resource Directory
TIADA has launched the Auto Inventory Resource Directory to assist Texas independent dealers faced with higher than usual prices and limited inventory due to the recent hurricanes. Browse the directory to find an auction that fits your needs!
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Ford Urged to Recall 1.3 Million Explorers Amid Carbon Monoxide Poisoning Concerns
There is a new push Tuesday morning for the Ford Motor Company to recall its Explorer SUVs over carbon monoxide poisoning concerns. The Center for Auto Safety is urging Ford to pull more than 1.3 million Explorers off the road. Ford announced it is offering free inspections and repairs to reduce the potential for exhaust to enter vehicles. But the company insists its Explorers are safe and said the offer is "for our customers' peace of mind." The Center for Auto Safety is calling on Ford to recall all of its 2011 through 2017 Ford Explorer SUVs, reports CBS News' Kris Van Cleave.
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CFPB Issues Final Rule for Payday, Vehicle Title and Certain High-Cost Installment Loans
The Bureau of Consumer Financial Protection has issued this final rule to create consumer protections for certain consumer credit products. The rule has two primary parts. First, for short-term and longer-term loans with balloon payments, the Bureau is identifying it as an unfair and abusive practice for a lender to make such loans without reasonably determining that consumers have the ability to repay the loans according to their terms.
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We make it easy for you to buy the inventory you need. In addition to LIVE SALES Tuesdays at 2:00 p.m., Texas Direct Auto Auction also offers weekly ONLINE SALES Fridays from 10:00 a.m. to 3:00 p.m., giving you the freedom to buy cars on your schedule.
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Industry Resigned to Life without NAFTA
The political rhetoric is looking more like reality. Automakers and suppliers are starting to envision a world without the North American Free Trade Agreement amid growing signs the Trump administration is determined to gut the 23-year-old deal, which has integrated the U.S., Canadian and Mexican economies, and made the regional auto industry globally competitive.
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Valley Car Lot Tries to Avoid Purchase of Flood Damaged Vehicles
According to Carfax.com, at least 325,510 flood damaged vehicles are in use in the United States. One Rio Grande Valley car lot manager told CHANNEL 5 NEWS they make a point to purchase vehicles from areas located far away from Texas and Florida.
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