December 6, 2023

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SCM Outlines Payment Promises


Secure Collateral Management (SCM) highlighted that its network of repossession agents has grown by 300% since 2013.

And the skip-tracing provider and forwarding company is looking to stay on that trajectory by reiterating its pledge about paying those agents when work is completed.

In an effort to help repossession agents secure their pay on the same day they repossess a vehicle, SCM outlined these five steps:

1. Sign up to work for Secure Collateral Management (SCM).

2. When you sign up, also select for ACH (electronic payment) of your invoices.

3. Repossess a vehicle for SCM.

4. Submit all required post repossession documents (including your invoice) to SCM before noon CT each day.

5. At 3 p.m. CT, a full payment of your invoice will be electronically submitted to SCM’s bank for immediate payment. SCM said it pays bank fees for ACH payments.

“Skip companies and forwarders need to recognize how tough it is to be on the front line of this ever-more regulated business,” SCM chief financial officer Jim Farley said. “We at SCM truly appreciate the pride and integrity recovery agents take in performing a difficult job. We cannot control the price of diesel or cost of insurance for our agents, but we can work hard to provide accurate debtor information.

“When the service is performed by the agent, we can immediately recognize them for a job well done by paying their fees the same day,” Farley went on to say.

For more details, go to

By SubPrime Auto Finance News Staff

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