CUToday.info Interview: Pete Hilger Talks Repossession Processes
Produced by Allied Solutions | July 28, 2020
Credit unions could face large collateral losses—and unwanted car sales on their lots—in the coming year if their repossession processes are not in good working order and plans are weak, asserts Pete Hilger.
Hilger, CEO of Allied Solutions, told CUToday.info CUs must be able to repossess cars quickly and dispose of them just as fast as defaults rise and values on used cars have been unpredictable, but are likely to fall sharply.
“The plan of having all of your cars on the credit union’s lot and having a used car sale is not a good one,” said Hilger.Content in the blog posts are the opinion and views of the writer, and don't necessarily reflect the opinions or views of Allied Solutions.