Zombie Cars - Episode 211
Mar 26, 2020
In this week's episode of the Crushing Debt Podcast, I interview bankruptcy lawyer, consumer advocate, and founder of Collateral Bankruptcy Services, Ian Leavengood.
Collateral Bankruptcy Services (CBS) helps borrowers return their secured vehicles to the creditor. In today's episode, we talk about:
- What CBS is and how it started.
- Who CBS helps, and when.
- What a 521 letter is and why its relevant.
- When does CBS help and when is it appropriate to contact them.
- How much their services cost the consumer (spoiler - $0).
- What CBS pays to people that refer clients to them (spoiler - again $0).
- What happens after CBS takes possession of a vehicle.
- What is a zombie car.
- Changes and trends since CBS has been assisting borrowers in collection and repossession of their vehicles.