Finance, Credit and Repossession Information Resource

As Industries Collapse, Repossessions Will Increase

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 certain industries that will without a doubt collapse […]

Can Police Stop a Repossession in Progress

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 call and show up. Some states such as New York, the […]

Skiptrace Work at Home

As a skiptrace person you will find that there is little time that you are not working unless you are with some hotel chain doing skip trace work on time share skips. The good news is that the job requires little space and you can essentially do it from home. Financial institutions have this option […]

Skiptrace Software in Company Ads

I see numerous repossession companies advertising which skip trace software they use in their office. You see it listed on the front page of websites, you see it on news paper advertisements and you see even on their business cards. To me it would be normal for the actual software companies to advertise to the […]

Subprime Financing your Next Car

Subprime financing today has become a tool of choice for many car buyers that have had credit affected one way or another whether it was from a previous repossession or even a bankruptcy, sub-prime is a choice that like repo is not really out on billboards or everywhere you look. Sub-prime financing is part of […]

Yacht Auctions

When you get to level of repossessing yachts and aircraft things change, the lender must have a tremendous amount of faith in your company as well as the longevity factor. After all they don’t want you to close down while in possession of several million dollars of their assets. Far different from the car repossession […]

Hiding a Yacht from the Repoman

Out of all the repossessions I have done in the day, I would have to say for me personally the most fun has been Yachts. Everything from the search, many times in foreign countries to spotting the yacht, to the actual repossession and later liquidating the yacht for the bank or lender. The thing is […]

Repo on Credit Report and Deficiency Balance

I got a letter in the mail that the bank has finally sold our car at auction. We owed $12,000 and the bank sold it for $4,000, only a third of what we owe. I have a couple of questions as to the repo and credit moving forward down the road. One of our options […]

Buying repossessed cars: is it safe or not

There seems to be a misconception about buying repossessed cars. In our experience a large majority of the people would prefer to pay several thousand dollars more for a car that is being sold from a private individual or a non repossession. In dealing with repossessed cars for more than a decade we have been […]

Locksmith training for repomen

As a repoman you have two choices, either you get locksmith training or you use one of the locksmiths in the area that you can count on to come to your location on call. However it is even worse then some of the other scenarios that delay repossessions that I have listed here. Becoming one […]