Personal Property Handling and Disposal Policy
STATEMENT OF POLICY
To provide guidance for the handling, notifying and returning and or disposing of personal property found in or on a repossessed vehicle at the time of repossession.
PROCEDURE
At the time or repossession the employee will notate whether the collateral was locked at the time of repossession and the collateral will be transported to our secured storage facility.
Once inside the storage facility, the employee will gain access to all compartments of the collateral.
All personal property located in or on a repossessed vehicle that can be removed without the use of a tool shall be inventoried and removed from the repossessed vehicle.
Any Non-Public Personal Information located inside the repossessed vehicle should be placed in a separate container.
All personal property that would require the use of a tool should be photographed and notated on the condition report.
Attached personal property may include items such as:
Expensive wheels (spinners).
Stereo systems.
Tool boxes.
Copies of any photos of attached personal property that may or may not have been covered by the Secured Party’s file will be added to the debtor’s file.
All unattached items including any container containing Non-Public Personal Information will be removed from the collateral and placed in a container or containers (boxes, bags, etc.)
Each container will be properly identified to the Debtor’s account and indicate the total number of containers associated with the Debtor’s account. (Example, one of three)
Law enforcement shall be notified of any illegal items or contraband found in a repossessed collateral. If any item is turned over to law enforcement, a written receipt must be obtained for the identified item(s) and the receipt will be placed in the Debtor’s file.
Within 5 days of the repossession a notice will be sent to the Debtors last known address.
The notice explains to the Debtor:
Where the Debtor or owner’s personal property is located.
When the Debtor or owner can claim his or her property.
How the Debtor or owner can claim his or her property.
At the time the Debtor or owner of the personal property contacts the office to claim the personal property, the employee handling the call should set up an appointment for the Debtor or owner of the personal property to pick up the property.
All appointments should be made with employee safety as the chief consideration.
When the Debtor or owner arrives to claim personal property employee should:
Ask for personal identification and make a copy of the identification for the file.
Ask the Debtor for any key to the collateral. If the Debtor refuses to provide keys, you may notify the Debtor that new keys will be made at an additional cost to the account and note on the inventory “ddtr” (debtor declined to release).
Ask the Debtor to review and sign the file copy of the personal property inventory. If the Debtor of the personal property refuses to sign, write in the signature line. “Refused to sign” and place your initials by the entry.
If the owner of the personal property is not a Debtor on the account the owner must sign a “release of personal property” (copy attached).
Release the personal property to the Debtor or owner and return all documents to the Debtor’s file and return the file to the appropriate locked filing cabinet.
Hold Harmless Return of Personal Property Agreement
(To Third Party)
WHEREAS, ______, hereinafter referred to as “Recipient”, claims ownership and desires and requests that ______Company name______, hereinafter referred to as “Company”, and release of personal property which is a deviation of “Company” procedure for handling personal property found in, on, or with a ______with a VIN of ______in the possession of “______”.
NOW, THEREFORE, “Recipient” promises to indemnify defend, save and hold harmless “Company”, together with all clients, owners, principals, officers, employees, agents, insurance providers and insurance carriers of “Company” and any successor or successors in interest to any such party from any and all claims, lawsuits, legal or administrative actions, or any other type of liability whatsoever arising out of the disposition of “Recipient’s” or any third party’s personal property where such property has been handled in accordance with the instructions or requests of “Recipient”.
FURTHER, the undersigned, in his/her personal capacity, hereby represents and warrants that he/she is fully empowered to bind him/herself and or any company “Recipient” represents, to this agreement.
This agreement shall be irrevocable in all cases wherein any party indemnified hereby has acted in reliance hereupon unless such party shall have received actual notice of a prior cancellation hereto.
Dated: ______Signed: ______
(Recipient of the Personal Property)
Witness: ______
Personal Property Disposal Policy
On or after ______days of when the written noticed is mailed to the Debtor or owner of the personal property, the personal property will be removed from the personal property storage area and disposed of as follows.
Remove any container of Non-Public Personal Property and disposed of in compliance with the Company’s Non-public Personal Information Compliance Policy.
ADD YOUR DISPOSAL Procedure here.
Regardless of which method of disposal you choose, you should be consistent. Dispose of personal property the same way each time. An established procedure which is followed every time gives you credibility.
Place a copy of all receipts in the Debtor’s account file.
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