Theft and the Reputation of Your Repossession Company

Repo Agents Are Already Stealing For A Living
Theft is the can be one of the hardest problems to deal with in the repo industry. I never could understand why agents that were making $2000 a week would even be tempted to steal property from a debtor’s vehicle. For some reason, some agents still can’t resist pocketing personal property. I think that my company had a low incident of theft and I tried to minimize it as best as I could.

How do you know if you have a theft problem?...

Family Time
This is a subject that none of us tough repo men like to talk about! It does need to be addressed, because neglecting your family can result in an outcome that you will not like.

We have all been there. You are sitting down to a family dinner or just about to watch your son pitch the most important game of the season and then the phone rings. The car has been spotted or one of the agents that work for you is in a pickle. Whatever it is, you are expected to drop...

Getting Clients in The Repossession Industry
In my opinion getting clients in this industry is easier than keeping them. I believe that almost every lender is contemplating dumping their current adjuster and bringing on a new repossession company. If they are not thinking about it today, there is a good chance that they will be tomorrow. The key to getting business is to always be promoting your business.

I would call potential clients at least once every month. You should...

Police Relations
I have seen many repo agents that just can’t get along with the police. They look at the police with an “us and them” and it is one of the greatest mistakes that can be made. It is up to you, but I would rather have a good working relationship with police departments, than to be constantly butting heads with them. Your relationship with the police can either hurt you or help you. If you are on a friendly basis with police personnel, then I can assure you that it will...

Building Relationships With Local Law Enforcement Agencies
Repossession agents have contact with police departments on a daily basis. Agents either have to drop off a hard copy of the repo order to the dispatcher or they have to call the police department with the information from repossession. Since you have to deal with the police so much, I urge you to become friends with the law. Being known as a professional repossession company that is supportive of the police will make your job...

Operating A Professional Repossession Office

No matter what happens in the field with your agents, your office will always be on the front line with the lenders. Your agents will rarely have interaction with your clients, unless a debtor calls the lender and puts the agent on the phone with the collector. The professionalism of your company will be revealed each day from the time the bell rings until quitting time. Your office will set the tone of your whole company. If they...

Maximize Your Profits Through Multiple Streams Of Income
Today I want to talk about how to maximize your profit and also add manpower and equipment to your business that pays for itself. Repossession work is one stream of income that is available to you. You get paid for voluntary and involuntary repossessions. You can make money on storage fees and sometimes charge the client for making keys. There are other areas in the business that can pump up your profits. I wanted to offer my...