Finance, Credit and Repossession Information Resource

License Requirements

The following is a list of all the states, however we have complied information in regards to licensing for most of the more popular states as of now. We will continue adding repossession requirements over time.

Repossession

A Repossession agent is paid to repossess automobiles, boats, planes, heavy equipment and just about anything you can think of that is used as collateral. Usually companies specialize in a particular field such as boats or vessels or an aircraft specialization. Those that specialize in boats will usually not repossess cars, unless it is a small boat on a trailer. Banks and finance companies will not mix the two together in most cases. A bank will have the go to company for vessels nationwide and the go to companies for automobiles statewide and citywide. In some cases they will use one firm to assign all the repossession orders and handle the entire liquidation process.

Most are employed with repossession companies that need agents to pick up collateral. No matter what part of the world you live in, there’es always a demand for repossession. Training, licensing and requirements vary from state to state in the United States and country to country as well. Most repossession

companies will sponsor those willing and able to do the job.

Repossession Job Description

The job description for a repossession agent will vary depending on what type of asset they are working with.

For example an auto repossession agent will work very differently then a boat or aircraft repossession agent. Auto repossession agents will typically work close to the office. A vessel or aircraft repossession agent will work worldwide and will travel often.

The job usually entails the following criteria

  • Almost always dealing with irate consumers
  • Possible violent reactions- although not always
  • Questioning family for the whereabouts of consumer
  • Calling in all repossessions to the local police departments within 1 hour or some states prior to repossession such as NY.
  • The ability to drive a tow truck for auto repossessions

For more information on the repossession job description, click here.

Repossession Jobs

As mentioned previously, the demand for repossession is usually high. As long as you meet the qualifications and have completed the proper training as per your state, you have a much better chance of getting hired. Many are willing to sponsor you with little experience as well.

Whether it is through a local small company or it could be with a large bank or dealership that handles in house repossessions. Training all depends on the area you are working out of.

Feel free to browse all of the valuable information on this site as well as check out our job board.

Repossession License

Some states require that you first get a license before you seek employment as a repossession agent.

In Florida, for example, you need a license to work as an agent issued by the state, which proves that you attended the proper school or sponsorship and background check.

Please check the map above to see what the requirements are for any state.

Repossession Training

The training varies depending on which field you choose to work in. Some fields are tougher to get in the door with. For example, vessel  training will be much different then auto training. A vessel agent should be very well verses in boats and have previous experience working with boats. Typically auto is the easiest way to get started.

Read our blog here for much more learning and training experiences