Becoming a Licensed Repossession Agent in Louisiana
Get Ready to Jump Through Some HoopsYou must obtain a state license to operate an auto repossession company in the State of Louisiana. The application fee is $400.00 and there is also a $45.25 fee for the criminal background check. Make payments payable to the "Office of Financial Institutions" by check or money order.
You must have two years experience in the auto repossession industry in the last three years prior to applying for a license. You must have been a paid employee of a licensed auto repossession company working a minimum of 1000 hours per year. You will need to provide W2 forms for those years and also obtain a letter from your employer detailing the work you performed during your employment. You must fill out the "Repossession Agent/Apprentice Application" form and have your employer certify the application, sign it and have it notarized. The W2 forms sound easy enough to provide, but I am wondering if the owner of the repossession company you are working for will be excited about providing a reference letter for his future competitor.
You must be certified by a national auto repossession certification program that is accepted by the State of Louisiana. You can choose from a list of accepted repossession certification programs at the bottom of the application packet.
You need to be finger printed at your local police department on the state approved F258 fingerprint card and fill out the information correctly. Make sure you fill out the "Authority to Obtain Information From Outside Sources" form and the "Bureau of Criminal Identification and Information" form from the Louisiana State Police. These forms give the police and the Office of Financial Institutions the authority to do your background check. Sign the forms and have them notarized.
Complete the remainder of the employment and residence 10 year history forms and additional company personnel documents and submit them to:
Louisiana Office of Financial Institutions
8660 United Plaza Blvd, 2nd Floor
Baton Rouge, LA 70809