April 13, 2024

Repo Buzz

Collateral Recovery Repossession News And Directory

Capital One Lifts Wash. DC 3 Year Moratorium

Hello Capital One Partners,

After almost three long years, it has finally come time that Capital One has lifted COVID suppressions for DC. Based on repo eligibility and portfolio size, we will be lifting suppression in two phases beginning today; Wednesday, October 19th, 2022.

Important Dates:

  • Today (10/19/2022) – First batch release

    • Less than 100 assignments

  • 11/01/2022 – Second batch release

    • ~500 assignments

    • All additional assignments following normal repossession eligibility requirements

As you would expect repossession performance will be closely monitored and temporary volume shifts may be leveraged based off of both agent performance and lot capacity constraints. Agents that run into lot capacity constraints will be required to reach out to their liaison so that we can partner with you to resolve any hindrance to your ability to continue repossessions.

It is imperative that each repossession is carried out in accordance with our contract, the Operations Manual, and state/local/federal law.

If there are any questions or concerns, please reach out to your liaison.

error: Content is protected !!