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Home » Credit union repo assignments on the rise

Credit union repo assignments on the rise

Auto loan balances over 90 days delinquent in US increased to 4.2%

James Van BramerbyJames Van Bramer
May 23, 2024
in Risk Management
Reading Time: 4 mins read
0
A car dealer walks past cars for sale at a used car dealership in Jersey City, New Jersey, U.S, on Wednesday, May 20, 2020. Governor Phil Murphy has lifted restrictions on in-person auto sales, provided the businesses follow social distancing guidelines, NBC reported.

Photographer: Angus Mordant/Bloomberg

Repossession agencies are receiving more assignments from credit unions as delinquencies rise nationwide.  Houston-based Automobile Recovery Bureau has seen more repossession assignments coming in from credit unions recently, Vaughn Clemmons, president of the agency and the American Recovery Association, told Auto Finance News.  “In Houston alone, we’re triple the number of repossessions we’re picking up […]

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