Finance, Credit and Repossession Information Resource

Nationwide New Car Sales is Way Up and Perhaps Repossessions will Jump Higher Soon

According to news reports this week, automobile sales have risen to extreme levels. This jump in new car sales is primarily due to a newly structured finance deal that has been working well to bring sales up and make auto maker happy. Auto manufacturers nearly across the board reported strong April sales gains in the […]

Can a Dealer Repossess a Car Before Registering it

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 purchase and might be short on the registration fees or the tax money […]

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 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 […]

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 […]

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 […]

Toys Always Get Repossessed First

After doing repo’s for so many years you begin to realize the chain of events leading up to repossession and what they might let go of first. Allot of times it begins with one asset and ends with another much more personal asset. It’s a kind of the circle of repossession, the business starts losing […]

Repossession business cost more than most think

In repossession there is a ton of things that unless people are actually in the company know little about. Most people think all you need is a truck and an office and you are good to go. While this is true in some cases, it is certainly not true for anyone trying to work for […]

Prices for Repossessions

Just like in skip tracing, pricing for repossession varies greatly depending upon the type of collateral, the complexity of the repo, the tools needed ¬†or in some cases the intelligence needed to handle repossessions the right way avoiding breach of peace and illegal repossessions. For the sake of this article since cars are more common […]

The Bank Took My Car When I Filed Bankruptcy

Over the years doing repossessions including all types of collateral, I couldn’t even begin to remember how many times the car had to be returned to the debtor. That’s right, returned right to the debtors driveway, door to door service, no fee’s, no questions asked nothing. What would happen is either as soon as the […]