In our industry, we encounter situations like repos and collections calls that can bring us more heartburn than a turkey dinner. With Thanksgiving just around the corner, we thought it would be good to approach this week’s topic with reflection and gratitude.

As we gather to give thanks for our blessings and lessons learned, we wanted to focus on emotions and objectivity in our daily business decisions. In the world of auto finance, emotions can run high. It’s critical for us all to remember the importance of fair and consistent decision-making as we go through our week.

Equal treatment is key

Emotions can often cloud our judgment, leading us to act impulsively. Remember the story from the October tip about not following procedures with a customer’s personal property? This serves as a reminder that treating each case with consistency, irrespective of our personal feelings, is not only fair but protects us from potential regulatory issues.

Business, not personal

When dealing with customers who fail to meet the terms of their agreement with you, it’s natural to feel upset or slighted. However, decisions about the customer’s account like pursuing deficiency balances should be based on rational business considerations, not emotions. Most of us cherish our businesses and have nurtured and developed them over the years.

Let’s ensure our actions reflect professional judgment, not personal sentiments.

To sue or not to sue

Legal actions are costly and time-consuming. When faced with a situation like a customer suing over minor mechanical issues, weigh the pros and cons. Sometimes, setting aside our frustration and settling the matter can be more beneficial than a prolonged legal battle.

This approach saves resources and allows us to focus on more productive aspects of our business.

Seek perspective

If you find your emotions influencing your decisions, take a moment to consult with a colleague, a friend, or refer back to your company’s policies and procedures. Getting a second opinion can provide a fresh perspective, helping ensure your actions align with your documented best practices.

Gratitude and reflection

This Thanksgiving, let’s be thankful that we can make sound, objective decisions that steer our businesses toward success. Reflect on past experiences, learn from them, and continue to grow.

So, as you prepare for the Thanksgiving festivities, know that while our business challenges, like repos and collections calls, sometimes cause a little heartburn, they also offer opportunities for growth and learning. Let’s be particularly thankful for our collective ability to navigate these challenges with wisdom and objectivity, cherish the valuable lessons learned from each encounter, and use them to refine our decision-making processes.

A commitment to fair, consistent, and emotionally unbiased decisions not only strengthens our businesses but also builds a foundation of trust and integrity with customers, employees, and industry friends. Here’s to a season of gratitude, reflection, and continued growth in our professional and personal lives.

Happy Thanksgiving to you and your families!

Richard Hudson is a managing partner at Ignite Consulting Partners, providing compliance consulting to data furnishers who want to be Metro 2 compliant. Richard has over a decade of experience with Metro 2 reporting and e-OSCAR. In addition to Metro 2 compliance, Ignite also provides consulting services for data furnishers on how to handle consumer disputes and has analyzed thousands of dispute letters on behalf of data furnishers. He can be reached at