Auto Repossession Company Licensing By State

Requirements by State
The majority of states do not have any licensing requirements for auto repossession companies and auto repossession agents. There are some states that have specific licensing agencies for the auto repossession industry, while other states license auto repossessors through other various governing bodies that may or may not relate to the auto repossession industry. These governing bodies are often private investigation licensing boards, towing regulators, the states...

Get Ready to Jump Through Some Hoops
You 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...

Nevada Auto Repossession Licensing Requirements
The Nevada State Private Investigators Licensing Board was established in 1949 by the Nevada State Legislature. This state agency is responsible for issuing licenses to auto repossession companies doing business in Nevada. Chapter 648 of the Nevada Revised Statutes mandates the board to regulate the standards of conduct for the profession, investigate complaints, examine, audit and take disciplinary action against licensees who have violated...

Michigan Licensing Requirements for Repossession Companies
If you are going operate an auto repossession company in Michigan you need to obtain a collection agency license through the Collection Practices Board Office. Each office that you operate is required to secure a license and each office must have a licensed manager supervising the operations of the office. A collection agency manager license requires the manager have a high school diploma or equivalent, six months full time...

Care Of Your Repo Company's Biggest Investment
Your trucks are by far are your biggest investment. Doing regular maintenance on your equipment will help them to last a long time. This not only includes oil changes, transmission maintenance and greasing the wheel lift, but it also includes keeping the cosmetics of the vehicle looking good. I think that I had the nicest fleet out of all the towing and repossession companies in my area. My drivers grasped the ideal that their truck was...

Must Have Auto Repossession Tools
Have you ever been out repossessing cars and finally found that account you have been chasing for weeks? It would be a big let down if you suddenly realize you don't have the right tool needed to effect the recovery. This article will hopefully give you a comprehensive list of tools you need to have on hand to be successful in the auto repossession business.

I have seen a slew things done by auto repossession agents that were not prepared...

Reposessions and the Headaches With Keys
Making keys is one of the biggest hassles you will encounter in running your repo company. You will lose money if you have to provide an expensive key when you are working for your client on all inclusive contingent basis. However, if you are paid for cutting keys, then it can be another stream of income for your repossession business.

There are many ways that you can go about making and obtaining keys for the collateral you recover....

DOT Compliance and the Repo Man
Your repossession business is busy! Securing debtor vehicles, gaining new customers, managing condition reports, updating and keeping current customers happy, making payroll, maintaining your fleet, and paying the bills are a few of the many things that repo companies have to deal with on a daily basis. As a natural result, important items tend to go on the “back burner” as you try to keep you head above water. Unfortunately DOT compliance often becomes one...

The Repo Man Is At the Door
Nobody wants to door knock, they just want to steal the car. Repo agents always want more time to do a drive by and hope that the vehicle will eventual turn up. They do not want to scare the debtor into running or hiding the vehicle by tipping him off that he is up for repossession.

There are several problems with that way of thinking. The first is that the vehicle is not showing anyhow and the second is that the debtor probably already knows...

Education
This was my first time to attend a FLACARS convention and I have to say I was impressed! Everything was first class from the food, to the resort, to the seminars. There were seminars on proposed Florida legislative changes, fleet safety operations and the Fair Debt Collection Practices Act. LPR technology was presented by two vendors and there was also a collateral remarketing seminar. The highlight of the conference was an awesome skip tracing seminar, which was taught by Michele...