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  • Repo Agents Hate To Door Knock

    Repo Agents Hate To Door Knock


    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...
    See more | Go to post

  • Flacars con 2010

    Flacars con 2010

    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...
    See more | Go to post

  • Repossessions and Collateral Damage

    Repossessions and Collateral Damage


    Accidents Happen

    Repo agents are often dealing with volatile situations that put an enormous amount of stress on them. There are times when they are snatching a car from a tight space. Many times agents are driving at night and are sharing the road with sleepy drivers, drunk drivers and have their sight hindered by the darkness. If you are going to be in the repossessing business, then you must come to terms with the fact that accidents are going to happen. Collateral is going to get...
    See more | Go to post

  • Handling Personal Property

    Handling Personal Property

    Personal Property
    Repossession companies have to be careful with personal property that is found in the cars they pick up. If property is mishandled, damaged or lost, it could cost your company money. You need to make sure that you follow your state laws as well as the lender’s contractual agreement with you when it comes to personal property. You need to do a detailed inventory of all personal property found in the vehicle. Place all of the personal effects found in a cardboard box and label...
    See more | Go to post

  • Give Back to the Community

    Give Back to the Community


    Repossession Companies Can Donate To Many Worthy Causes

    I do no think that I can neglect this area in the writing of articles on how to build a successful repossession company. I truly believe the statement “what goes around comes around”. If you are a dirty player and always out to hurt people, you will get it paid back someday. Those paybacks can really hurt. Being a business owner is a big responsibility in more ways that one. Sure it is difficult to manage employees, keep your trucks...
    See more | Go to post

  • Lenders and Their Recycled Repossession Orders

    Lenders and Their Recycled Repossession Orders

    "Old Paper"
    Lenders have a tendency to pass old orders around to different auto repossession companies. Every veteran agent has been through it when they talk to a debtor and they hear “I told the other guy I would pay” or “Are you with – insert your competitor’s name here”. Immediately you know you have a repossession order in your hand that someone else has worked.

    I often wonder if the lenders do this to see if agents are working accounts or if they do not trust us....
    See more | Go to post

  • Replevins and the Auto Repossession Business

    Replevins and the Auto Repossession Business

    The Replevin
    Sometimes, no matter how much effort you put into repossessing a vehicle, you just can’t get it. The debtor sometimes will hide the vehicle or keep in a locked garage or building. The repossession agent can make an untold amount of visits to the debtor’s residence and still be unsuccessful. The agent performs a multitude of door knocks and the debtor tells him to get lost or that he does not know where the vehicle is. Often times the collateral that the repoman is looking for...
    See more | Go to post

  • Cost of Owning an Auto Repossession Business

    Cost of Owning an Auto Repossession Business


    Looking at the Cost of Business

    The auto repossession business is by no means a cheap business to be in. There are many costs that come to mind immediately and then there are some costs that I really have to think about. Those costs tend to add up quicker than you think. If you are going to be in this business, you need to keep costs down and shop around for the best deals on everything.

    One of the largest expenditures in the auto repossession business is your wrecker....
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  • Lying Debtor?

    Lying Debtor?


    The Voice of Truth or Not?

    If you have worked in the auto repossession business for more than a hot minute, I know that you have spoke to a debtor or one of his relatives and asked yourself, “Is this guy telling the truth?” We always here the same old stories - “I have not seen Junior for months” or “He moved out of state” or the debtor giving you the $400 promise of “I will turn over the car in the morning”. Of course, the account gets canceled in the morning because the truth was...
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  • Do You Want to Repossess More Cars?

    Do You Want to Repossess More Cars?


    Be Positive All the Time

    I am no Anthony Robbins, but I am a pretty optimistic person. I think that one of the biggest problems found in the auto repossession business is negativity. From the owner to the office staff to the repossession agent working the streets, there is a constant "doom and gloom" attitude. Just take a look around your office when you go to work tomorrow. Is your office staff looking depressed and complaining? Are your agents moaning and groaning about...
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  • Repo Agents Hate To Door Knock
    BRADMIN

    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...
    12-28-2018, 07:23 PM
  • Flacars con 2010
    BRADMIN
    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...
    12-28-2018, 06:28 PM
  • Repossessions and Collateral Damage
    BRADMIN

    Accidents Happen

    Repo agents are often dealing with volatile situations that put an enormous amount of stress on them. There are times when they are snatching a car from a tight space. Many times agents are driving at night and are sharing the road with sleepy drivers, drunk drivers and have their sight hindered by the darkness. If you are going to be in the repossessing business, then you must come to terms with the fact that accidents are going to happen. Collateral is going to get...
    12-28-2018, 06:25 PM
  • Handling Personal Property
    BRADMIN
    Personal Property
    Repossession companies have to be careful with personal property that is found in the cars they pick up. If property is mishandled, damaged or lost, it could cost your company money. You need to make sure that you follow your state laws as well as the lender’s contractual agreement with you when it comes to personal property. You need to do a detailed inventory of all personal property found in the vehicle. Place all of the personal effects found in a cardboard box and label...
    12-28-2018, 06:23 PM
  • Give Back to the Community
    BRADMIN

    Repossession Companies Can Donate To Many Worthy Causes

    I do no think that I can neglect this area in the writing of articles on how to build a successful repossession company. I truly believe the statement “what goes around comes around”. If you are a dirty player and always out to hurt people, you will get it paid back someday. Those paybacks can really hurt. Being a business owner is a big responsibility in more ways that one. Sure it is difficult to manage employees, keep your trucks...
    12-28-2018, 06:20 PM
  • Lenders and Their Recycled Repossession Orders
    BRADMIN
    "Old Paper"
    Lenders have a tendency to pass old orders around to different auto repossession companies. Every veteran agent has been through it when they talk to a debtor and they hear “I told the other guy I would pay” or “Are you with – insert your competitor’s name here”. Immediately you know you have a repossession order in your hand that someone else has worked.

    I often wonder if the lenders do this to see if agents are working accounts or if they do not trust us....
    12-28-2018, 06:16 PM
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