This will be be the first post in a series called “How Not to Run An Auto Repossession Business”. Years ago, I personally worked for a truly great auto repossession business. Not only was the repo business great, but the owner was not only an awesome boss and but he was a great repoman. He had what it took to start, build and maintain an auto repossession company that had a fleet of wreckers, rollbacks and transport trucks, several offices, a skip tracing department, a locksmith department and a huge staff of office workers and repossession agents. His company performed  repossession work for nearly every major lender in the United States, as well as almost every local bank and credit union. The company executed over a thousand involuntary repossession orders a month. He was known as the guy that could get any piece of collateral recovered and if he could not get the unit picked up then no one could. His recovery agents were the best paid, had the nicest and newest equipment and were known for professionally getting the job done. The repo agents that worked for this company were the envy of every repoman for miles and miles around. If you worked for this particular repossession company and you were also a great repoman , there was no doubt that you were going to make over $100,000 a year. I worked for this company as a repoman at first and later managed an office and several repossession agents. The owner of the company always had a pocket full of cash and I did too. I had decided that I was never going to leave this company – ever. Although, in the past, I had dreamed of owning my own auto repossession business, I had put that thought far in the back of my mind. Why would I own my own? I was making an ungodly amount of money without the headaches of owning my own company. My boss treated me better than I expected to be treated and never hassled me. He always trusted me and never questioned my words or actions. I always had a new wrecker to drive, made my own schedule and did not have a complaint in the world. So what happened to this company? This is what this series is about – How Not to Run An Auto Repossession Business.

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