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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 a paid employee of a licensed auto repossession company working a minimum of 1000 hours per year. You will need to provide W2 forms for those years and also obtain a letter from your employer detailing the work you performed during your employment. You must fill out the "Repossession Agent/Apprentice Application" form and have your employer certify the application, sign it and have it notarized. The W2 forms sound easy enough to provide, but I am wondering if the owner of the repossession company you are working for will be excited about providing a reference letter for his future competitor.
You must be certified by a national auto repossession certification program that is accepted by the State of Louisiana. You can choose from a list of accepted repossession certification programs at the bottom of the application packet.
You need to be finger printed at your local police department on the state approved F258 fingerprint card and fill out the information correctly. Make sure you fill out the "Authority to Obtain Information From Outside Sources" form and the "Bureau of Criminal Identification and Information" form from the Louisiana State Police. These forms give the police and the Office of Financial Institutions the authority to do your background check. Sign the forms and have them notarized.
Complete the remainder of the employment and residence 10 year history forms and additional company personnel documents and submit them to:
Louisiana Office of Financial Institutions
8660 United Plaza Blvd, 2nd Floor
Baton Rouge, LA 70809
225-925-4660
http://ofi.louisiana.gov
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by BRADMIN
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...-
Channel: State Regulations
12-28-2018, 11:28 PM -
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by BRADMIN
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...-
Channel: State Regulations
12-28-2018, 11:25 PM -
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by BRADMIN
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...-
Channel: State Regulations
12-28-2018, 11:23 PM -
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by BRADMIN
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...-
Channel: State Regulations
12-28-2018, 11:22 PM -