Categories
Aicraft

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.

 

Categories
Car Repossession Law Safety

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.

Categories
Bank Finance

Usually How Many Payments Behind Before Repossession is Assigned

 

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, usually located at the corporate location of the particular bank you hold the loan with. The repossession manager has allot of power in that area and has the ability within reason to delay that period or repossess sooner than that 90 day period. There will be factors looked at prior to that car going into “repo status” as they call it.

The bank or finance company will look at this prior to assigning repossession:

  • How long have you had the loan
  • How payments have been since you had the loan
  • Is there a possibility of fraud attached to the loan
  • Was the loan a straw purchase meaning was it bought for a friend or significant other
  • Does the car have and maintain insurance
  • Does the debtor answer the phone when called or does he/she duck the bank
  • Job history of customer
  • Previous tapes of phone calls, all calls are logged into the system and what was said is logged in with the date
  • Amount of loan left
  • Amount of payments
  • Value of car verses loan
  • Auction or wholesale value in the current market
  • other possible risk factors

After review they may feel the car is not even worth the cost of repossession so they will strongly attempt to collect on the car by threatening repossession which on paper will happen but you will keep the car as we wrote in the article here. In which case they will keep the title of the car but you will maintain possession and cannot sell the car until it’s fully paid off. If you were an idiot on the phone verbally abusive or any of that, they will take note of that and probably not work in your favor. If you are however struggling due to a job loss they will typically work with you as long as you have been honest, but be warned banks do lie as well and also cannot be trusted. Many times a bank has stated they will work with a customer and that very same night put the car out for repossession. This happens often if they feel the car will be hidden.

The answer is typically at 90 days after a ton of collection phone calls or attempted collection phone calls. You can expect on the 90th day that the car will be gone so be prepared.

Categories
Car Repossession

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 Rockdale County Sheriff’s Office.

A Rockdale County Sheriff’s Office deputy was called to a location on Country Trace around 7 p.m. on March 11 where he found a number of people yelling in the street near a tow truck and a red car in the middle of the road.

The tow truck driver told the deputy that he was there to repossess the red car and when he hooked it to the truck, the car’s owner, George Ali Robinson, ran outside and demanded to see paperwork justifying the repossession.

“(The driver) stated that he walked back to the cab of the truck to retrieve the paperwork and Mr. Robinson started to unhook the car from the truck,” Deputy Timothy Kutsch reported.

The tow truck driver told Robinson to leave the truck and car alone and that the camera in the truck recorded him tampering with the car. Robinson then reportedly went to the cab of the truck and tried to take the keys out of the ignition. The two men struggled and the victim showed the deputy red marks and bruises on his arm.

“(The driver) stated that Mr. Robinson then grabbed the camera and ripped it out of the vehicle,” the report states.

He gave the camera to another man, later identified as Cedrick Scanes, and Scanes took the camera into a nearby home.

“I asked Cedrick what did he do with the camera and he stated that he did not know,” Kutsch stated in the incident report. “I advised Cedrick that (the driver) saw him take the camera into the house and that if he knew where the camera was, he needed to return it. Cedrick stated that he did not know were the camera was. I then took Mr. Scanes into custody for taking the camera into the residence.”

Cedrick Maurice Scanes, 22, of 2635 Country Trace, was arrested and charged with theft by taking and being party to a crime.

Robinson, 45, of 2700 Cherry Blossom Circle, was charged with simple battery, criminal damage to property, obstruction of law enforcement officers and entering auto.

 

Categories
Misc

Repossession without having a license to repossess becoming common place

repotruckI 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 less than massive short cuts have taken place and aside from all other business, licensing and legal issues the repossession field would be greatly impacted due to extreme price gouging among other considerations. Not to mention making a complete mockery of the business itself.

One of the main problems is the grey area of in house buy here pay here dealers being allowed to repossess their own cars. This grey area will be fully manipulated and indeed exploited so much that the state will have to eliminate that all together. Just because a buy here pay here lot does in house financing should not allow them the right to repossess as well when licensing takes so long to get. There is a reason for such a long process of licensing so that this business will hopefully remain professional.

How do you know illegal repossession are taking place?

To start with all you really have to do is take a note of all the newer cars being picked up by tow companies left and right. In fact, I was in the SW part of town the other evening and while pumping gas, I noticed a fully marked tow company truck with no repo numbers whatsoever with a fairly new 2012 Dodge Caravan on the back. While there is a chance this car could have really broken down and yes their are absolutely lemons being sold, it’s just far too coincidental for this to not have been a repo or lets say for coincidence sake, 1 out of 10 of those are true break downs. This is a case where a tow company is being used to do repossessions for someone and the fee’s are probably 3 times lower than the true fee’s of a repossessions company. This car was probably picked up for a $100.00 bill which is insane for this business.

Repossessions being down for the last few quarters but yet car sales are up

This could be the fact that the numbers are coming from repossession companies and all of the unlicensed activity is not showing up in those numbers therefore coming out much lower. Sort of like the unemployment rates dropping due to those on unemployment running out of unemployment and eventually falling off the charts, allowing for false numbers among a society that actually listens that garbage.

Bottom line is that it is a fact unlicensed activity is going on and going on in a big way. It must be addressed before the industry is crushed completely by the new form of short cuts that are flying in. Its all about making a dollar today and screw tomorrow ridiculing a once highly professional industry or multi tasking with an unlicensed tow truck company.

Ironically, the same week I notice this truck at the Hess station, the very next day I have two e-mails from the FLCARS asking to fill out a survey on unlicensed activity and also with a date to meet on unlicensed activity so it appears that this is already being addressed thankfully. For the sake of repossessions, we are in hopes that this unlicensed curb comes about. My take is that the grey area must be eliminated and used car dealers should lose the right to repossess their own cars, allowing for dealers to say “yes he works for us.” The same thing is happening with law firms now and private investigators being hired without licenses which should also be addressed simultaneously.

Categories
Crime News from around the web

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 Barron returned Tuesday to the Las Vegas courtroom where he was convicted last Thursday of felony assault with a deadly weapon, carrying a concealed weapon, burglary and misdemeanor discharging a firearm.

He could get probation or up to 22 years behind bars at sentencing May 27.

Barron told jurors he acted in self-defense when he confronted two men in a van that he said was blocking his driveway while other crew members filmed a vehicle repossession scene in his North Las Vegas neighborhood.

Three shots were fired. No one was wounded.

Read more here

Categories
Consumers Repossession Training

Can a Dealer Repossess a Car Before Registering it

leinregisteringOver 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 purchase and might be short on the registration fees or the tax money or even a touch short on the car so the dealer figures OK no problem I just won’t register the car until they pay it. I used to think like that years ago, until I tried to do a legal repossession and ended up having an issue and almost taking the loss.

If someone buys a car from you and there is any kind of balance due or if it is a check transaction you must go on as a lien holder. The customer will not like this but too damn bad, nobody can be trusted and it is what it is. If they are unwilling to allow you to do them a favor and be a lien holder on the vehicle the only other thing you can do, is have them bring the balance in cash before releasing the vehicle otherwise there will be no legal repossession. Remember that possession is nine tenths of the law so if they really rob you and you take the car back quick enough you may be in good shape but you want to look at the legalities a little closer in your state.

Will I lose money if I go on the car title as a lien holder

What the customer doesn’t understand is that you really are risking your money even if you do go on as a lien holder. Lets say he owes you $300.00 on the total balance, it doesn’t matter what its for, registration, taxes or whatever. It is the balance on the car sale, so if you go on as lien holder you will actually have to follow through with registering the car which costs money in which was not paid in full. Do I like this law, no not at all but the law is the law and if you want to make the sale and allow them to leave it must be done like this so that you can repossess the car and later file for a repossession title.

If you end up repossessing the car, it will cost you the amount of the repossession, the amount of the registering of the vehicle and if it was a bounced check, you are at a loss, if it was a balance due, you will then send them a check less the repossession fees of what they did give you for the car. Usually it will never get that far unless it is a total bounced check. Not many people will lose a car over a short $300.00 for registration.

 

Categories
Career Repo Business Repossession Industry

As Industries Collapse, Repossessions Will Increase

Photo credit- Digiratilife
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 certain industries that will without a doubt collapse but not easily. These people are fighting for what they worked for for many years and doing whatever it takes to keep the companies alive. I commend them for that, I have been guilty of staying in companies that were clearly in the downward cycle and had no chance of revival, mostly due to the same corruption that pollutes this country so badly today.

Which industries are likely to collapse

It’s hard to say as so many are falling now. it is tough to find an American industry right now that is not being outsourced to a sweat shop in the East or a company that hedge funds don’t decide one morning to buy the market on. One thing is for certain, most people don’t think much about the future of their company growth or the industries health behind their company so when it does collapse and they are suddenly out of work, 6 months earlier they were thinking whether or not they should finance that car.

We are seeing a huge downward trend in the mortgage industry as inventory will not be increasing anytime soon and if they do they will simply be foreign cash deals. So you might see an extreme influx of mortgage brokers and sales associates cars in the short term. As the society went from simple to shallow, there will likely be no decline in retail brands in the meantime. Which means that even those on minimum wage will spend a large portion of their checks on the big brands that flood the outlet malls.

Many people in the healthcare industry are in deep as well and may not sustain much longer. The new trend is similar to the third world nations such as centra care clinics on every corner for cash and low grade hospitals for the new affordable care insurance. This cannot sustain unless we start bailing out the insurance companies at some point. This newly implemented care will likely close many more industries due to the strain of regulations and will leave lots of repossessions in its its tracks.

Restaurants have been closing left and right, so that industry is pretty much toast unless you have a dollar menu or a food truck. Middle class family restaurants no longer have 1/2-1 hour lines and tables are readily available. This cannot sustain and will likely be a problem, shutting down the companies that are behind these chains will hurt.

Will the repossession numbers be higher this coming year

As they are continually trying to feed us the improving economy crap, increase in job growth without speaking of how many part time jobs they were or how many people came off of unemployment that got taken out of the numbers. The repossession numbers may be slightly higher but nothing huge as the economy has never came out of this recession. A good economy is what creates loans and compulsive buying, toy buying and a bad economy means less repossessions. However, I do feel that as certain industries collapse there may be small surges improving in the repo fields.

Categories
Repo Experiences

A Typical week: Repossessions down the entire East Coast

MapEastCoastIt 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 personally was in hopes they would all be still on the East Coast. They weren’t cars, they were large boats, in fact one was a house boat, two were large sail boats and the rest were 32 foot plus go fast boats,  and one lobster fishing boat.

Strange enough while we did have to skip trace these out pretty good, we really didn’t have any issues at all with any of them, they were all relatively close to the original addresses, at least in the same cities or close enough. Ironically I was in NYC that week and even more funny is the fact that I drove and my trip was just about over so stopping off at each state on the way home was perfect. My office sent me the files so I could map each one out. Keep in mind, usual protocol is to fly to the states or countries in order to handle the repo and fly out or sail out.

Categories
Car Repossession Repo Business Repossession Training Safety

Can Police Stop a Repossession in Progress

miamipolicecarDuring 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 police must be called ahead of time to let them know the repo will be in progress, if that is the case upon arrival the police will verify the tag number.

If the repossession is happening in Florida and the police come, as long as there is no issues the repo remains a civil matter and they typically stay nearby until the repo is finished. Not always, sometimes they just take off and let the repoman complete the job on his own. It is actually against the law for the police to assist the repossession agent in any way although very few people besides licensed repossession agents know this.

Many times a debtor will call the police in an effort to get them to come and stop the car from being taken. This can become successful if the debtor begins to raise a stink and says the repoman is trespassing or breaching the peace at which point the police can tell you not to take the car, but this is very rare. The police might ask to see the paperwork and if they do look at the actual repo order, they will allow the repossession to continue flowing.