Archive for July 8th, 2010


Both my partner and I got notices from our banks that our auto repossession paychecks had been returned for non-sufficient funds. We rang the boss and he explained it away – “I forgot to transfer money from our operating account into our payroll account. I will transfer the money today and drop both checks in the mail this afternoon.” I pushed him to meet up with us to get the checks hand delivered, and offered to meet him anywhere. He whined that he could not meet us because he had a doctor’s appointment.  The guy was as old as dirt, so we decided to accept his promise to mail us the checks. Later that night we went out and repossessed four more cars.

We went out for a nice dinner with our cash tip and had enough left over to fill up our gas tank several times. We were both thinking that we had a boss that appreciated our hard work and high recovery rate. He often commented that no other repoman that ever worked for him had a consistent recovery rate in the 90 percentage rate like we had. As we rolled around checking addresses on our repossession orders, we talked about being able to retire early with a huge amount of cash in savings. If we could repossess cars for just 15 years, we would be set. The savings accumulated from our auto repossession checks combined with some other business ventures we were involved in would allow us to have a life of financial security by the time we were in our 40’s. That night we repossessed and delivered six cars – we were on cloud nine!  The next day we went to the bank and deposited our paychecks.