Lawsuits Against Unlicensed Repossession Agencies and Their Clients Coming?

Alliance of Illinois Repossessors (AIR) Considers Class Action Lawsuits Against Unlicensed Repossession Agencies and Their Clients

CHICAGO, IL – July 16, 2024 – The Alliance of Illinois Repossessors (AIR), a leading organization representing the interests and standards of licensed repossession agencies in Illinois, is announcing its intention to pursue class action lawsuits against unlicensed repossession agencies operating within the state as well as the clients that employ their services. This decisive action comes in response to licensed agencies experiencing significant revenue losses, a deterioration of trust in the industry, increased insurance costs, and the negative impact on businesses that adhere to professional standards and regulatory compliance.

Unlicensed repossession agencies operating without proper credentials and oversight undermine the integrity of the repossession industry. These entities not only erode consumer and client trust but also create unfair competition for licensed, law-abiding agencies. By circumventing state regulations, unlicensed operators engage in practices that jeopardize the safety and security of consumers, licensed repossessors and financial institutions.

AIR has documented substantial financial damages directly attributable to the operations of these unlicensed agencies. Licensed members have faced increased insurance costs, loss of revenue, and reputational damage as a result of these unregulated activities. The unfair practices of unlicensed agencies have also tarnished the perception of the industry as a whole, making it more challenging for legitimate businesses to thrive.

Sonny Datoli, the president of AIR stated, “The proliferation of unlicensed repossession agencies in Illinois has reached a critical point. These rogue operators not only violate state laws but also create a hostile environment for reputable businesses that follow the rules. AIR is committed to protecting the interests of our members and upholding the standards of our industry. By considering class action lawsuits, we aim to hold these unlicensed agencies and their clients accountable for their detrimental impact.”

The proposed class action lawsuits will target both the unlicensed repossession agencies and the clients who knowingly or unknowingly engage their services. AIR believes that this legal action will serve as a strong deterrent against non-compliant practices and reinforce the importance of licensing and regulatory adherence.

AIR urges all stakeholders, including financial institutions, auto dealerships, and lending organizations, to verify the licensing status of repossession agencies before engaging their services. By doing so, they can ensure that they are working with legitimate, professional agencies that prioritize compliance and ethical conduct.

The Alliance of Illinois Repossessors remains steadfast in its mission to advocate for the rights and interests of licensed repossession agencies, promote industry standards, and foster a fair and transparent market environment.

For more information, please contact: Alliance of Illinois Repossessors info@air-repo.com air-repo.com

About the Alliance of Illinois Repossessors (AIR): The Alliance of Illinois Repossessors (AIR) is a professional organization dedicated to representing and supporting licensed repossession agencies in Illinois. AIR advocates for industry standards, regulatory compliance, and the professional development of its members to ensure the highest level of service and integrity in the repossession industry.

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