Indiana Professional Repossessors Association Announces Creation of New State Law Section for Collateral Recovery Industry

The Indiana Professional Repossessors Association (INPRA) announced a significant milestone for the repossession industry with the passage of House Bill 1184, which establishes a new section of Indiana law dedicated specifically to collateral recovery agencies.

Effective July 1, 2026, IC 26-2-11 will formally recognize the industry within the Indiana Code under “Chapter 11. Collateral Recovery Agencies.” While not yet a full licensing framework, this development marks a critical step forward in legitimizing and structuring the profession within the state.

“This is a historic moment for our industry in Indiana,” said Todd Case, President of the Indiana Professional Repossessors Association. “For the first time, collateral recovery agencies are clearly defined and addressed in state law. While we still have work to do toward full licensing, this is meaningful progress that lays the foundation for future advancement.”

The new law introduces key operational standards, including:

A requirement that repossessed collateral be stored within the state of Indiana until it is either redeemed or transferred to auction.
A mandate that agencies include ten (10) days of storage in their standard repossession rate.
Authorization for agencies to charge $15 per day for storage beyond the initial ten-day period, payable by the legal owner or lienholder.
Provision allowing additional fees for storage of collateral containing hazardous materials.

IPRA leaders emphasize that these provisions bring greater clarity, consistency, and fairness to both recovery professionals and lienholders operating in Indiana. This legislation reflects years of effort, advocacy, and collaboration. While there is still work to be done, these changes improve transparency, support responsible business practices, and recognize the essential role our members play in the financial and automotive ecosystems.

The Indiana Professional Repossessors Association remains committed to working with lawmakers and stakeholders to further strengthen regulations, including the pursuit of comprehensive licensing standards.

Individuals and agencies in Indiana interested in becoming members and having a voice in the future of the industry are encouraged to reach out to [email protected]

Todd Case – INPRA President

About The INPRA

Repossession companies in the State of Indiana have joined together to form the Indiana Professional Repossessors Association – INPRA. Collectively we perform nearly 90% of the repossession efforts in the State of Indiana. Our goal is to ensure industry progression through education and communication with industry vendors, financial institutions, regulatory agencies, local government, and the consumer.

Together, we can make positive changes that will ensure safe and effective collateral recovery across the state. We shall endeavor to reduce liability and bring uniformity to the repossession industry in our state, so that clients and consumers alike know each repossession is handled in the most professional manner possible. This means ensuring each agency performs their duties while maintaining the highest level of compliance and in accordance with the law.