Finance, Credit and Repossession Information Resource

Work in Aircraft Repossession for a Living

As spoken about in several articles and many of you have seen the probably not so hit TV show Airplane repo, you will know that contrary to all the fake things the TV show aired, there is allot of truth to much of it as well. Just to be clear coming from a guy who really repossessed hundreds of Aircraft ranging from Commercial airlines, Lear Jets and even the small Piper planes, I can unequivocally tell you that there is allot of excitement in this field so no matter how you judge the fake shows or should I say scripted show, the scripts are coming from past situations. Every single repossession guy has stories that most people would find to be crazy.

The thing is that you could ask me 20 years from now about all the aircraft repossessions that I did and I would remember them clear as day. It is one of those jobs where you remember the cases as in most cases you get deeply involved in the search and organization processes. Here are a few questions you may have:

  • Do you have to be a pilot? No you do not. It would surely help allot but not at all a necessary qualification. However in this business, like in the shows many of the guys you will hear about or meet are in fact pilots. Since this industry is so low key or has been low key for so long, the only way guys knew about it in the past was being pilots. I personally have had many commercial pilots ask me for work for them on the side which I have used over the years, more so since I am not a pilot.
  • Do you have to have the ability to find jet planes all over the world? Yes you do, this is the main qualification that will differentiate you from the others and if you suck at locating, plan on being used less and less over the time working.

 

Florida Man Awarded Over a Quarter Million for Problematic Vehicle Repossession

For some reason the agent makes contact with the debtor in order to get the vehicle, it could have been keys, it could have been called in as a voluntary repossession as many times this happens and the debtor has second thoughts after setting the thing up. Sometimes the bank will assume it is voluntary in order to save a few bucks on the repo, banks pay about half for a voluntary than an involuntary.  The agent knocked at the door at 3:45 in the morning to ask for keys and allow the debtor to get his possessions, what is wrong with these agents? I would never knock at a door at 3am. Just take the car even if you drag it out and worry about the keys another time or just have new keys made. I never understood the concept of these guys insisting on keys. Perhaps it was that non of my repossessions were even close to voluntary. [Continue reading]

Usually How Many Payments Behind Before Repossession is Assigned

90day calandar

  The repossession department of a bank like Citibank or Bank of America will typically put a repo order out right at around 90 days of delinquency. These departments are on their own away from other banking departments within the bank, … [Continue reading]

Man tries to unhook car that was already repossessed

CONYERS — A Conyers man unhappy with having his car repossessed decided to take matters in his own hands and attempted to unhook his car from the tow truck and try to destroy the evidence by breaking the surveillance camera system, according to the … [Continue reading]

Repossession without having a license to repossess becoming common place

repotruck

I have been saying for a while now how badly unlicensed repossession would affect this industry, how badly rules would change as populations increased especially in Florida. These days, dealing with cultural and societal differences that seek nothing … [Continue reading]

Nevada Man Guilty of Shooting TV Show Crew

LAS VEGAS (AP) — A Nevada judge set bail at $100,000 and a sentencing date for a 43-year-old former schoolteacher jailed after he was found guilty last week in a shooting involving the crew of the reality TV show "Repo Games." Carlos Enrique … [Continue reading]

Can a Dealer Repossess a Car Before Registering it

ontime

Over the years of being in both liquidations and repossessions I have encountered the problem of needing to repossess a car or vessel before actually titling it for several reasons I will outline below. First off quite often someone makes a car … [Continue reading]

As Industries Collapse, Repossessions Will Increase

Photo credit- Digiratilife

Recently I was at the auction checking some of the last Lincoln Town cars we will ever see. I ended up buying a couple of them and unknowingly 2 of them were repossessions and both of the previous owners worked in the same housing fields. There are … [Continue reading]

A Typical week: Repossessions down the entire East Coast

MapEastCoast

It was around February and ironically, we had gotten around 6 repossession orders the same day. Not that getting six orders is rare, but these were different, they were all on the east coast up the line. We began working on the orders right away. I … [Continue reading]

Can Police Stop a Repossession in Progress

miamipolicecar

During the time of repossessions many typically happening in the middle of the night. The neighbors see a strange car snooping around the neighborhood, or even someone walking around by foot to verify a VIN on the dash. The police end up getting a … [Continue reading]