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Illegal Repossession Article
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Auto Repossession Business: Is It Right For You?
from:The auto repossession business is a very lucrative industry. The business is based on a healthy market for creditors who do not wish to be responsible for the physical act of repossessing vehicles. The industry yields over a billion dollars yearly although of the general public has very little knowledge about the auto repossession business. There are thousands of these small and large repossession firms in business in the United States. Most of the operators in the auto repossession business are not listed in the phone book and do little to no advertising as the abundance of business does not make it necessary. The operators usually just directly contact specific creditors that are in need of the services.
The auto repossession business is a great money maker for several reasons:
• There is a lot of work available during any economic cycle.
• In comparison to the actual time needed to perform a repossession the fees charged are high. Generally, fifteen to thirty minutes is all it takes to perform repossession. The repossession will usually yield a profit around 200 dollars or more.
• Creditors will usually use the same auto repossession business repeatedly due to the abundance of business. A reputable auto repossession business may at times have more business than it can handle.
To obtain a better understanding of the auto repossession business, it is important to understand why and how the repossession is given to an independent agency. Most companies that enlist the services of an agency in the auto repossession business don’t want to have the additional task of actually repossessing an automobile. Often times before a vehicle is repossessed some investigative work must be done. This research is usually needed to locate the subject of the repossession or the subject’s vehicle. Since some people will try to hide the vehicle to avoid repossession, this is a critical component or the success of the repossession effort.
The auto repossession business can be a hectic one. However by law the actual repossession must be done in a peaceful way. Most people get rather upset when the repo man comes to seize their automobile; because of this a lot of repossessions are performed at night or at the owner’s place of employment without their knowledge. Repossession done in this manner usually is peaceful due to the lack of the owner’s knowledge that their car is being seized. Before the auto is repossessed the agent attempting to seize the car will make sure they have the right car and this is done by matching the VIN number they have to the one in the automobile. The person repossessing the car will most often notify the police what has occurred to avoid any problems if the owner reports the auto stolen.
Illegal Repossession Specific links
Illegal Repossession News
Driver data accessed illegally, state agency says - Minneapolis Star Tribune
 KAALtv.com | Driver data accessed illegally, state agency says Minneapolis Star Tribune An employee of a repossession company gained illegal access to the motor vehicle records of thousands of Minnesotans, state officials said Friday. The state said about 3700 Minnesotans may have been affected. The data included what is found on vehicle ... Repo worker got illegal access to Minnesotans' motor vehicle records, state says State says car repo company gained illegal access to Minnesota motor vehicle ... DVS audit finds illegal access of 3700 Minnesota driver records |
Trial set in former sheriff deputy's lawsuit against repossession driver - Adrian Daily Telegram
Trial set in former sheriff deputy's lawsuit against repossession driver Adrian Daily Telegram Rudd's lawsuit claims Freeman acted illegally by “screaming at plaintiff” and continuing to repossess the truck “through continued invocation of offensive language, gestures, threats, intimidations and breaches of the peace. |
Repossession laws need overhaul: Law Commission - Stuff.co.nz
Repossession laws need overhaul: Law Commission Stuff.co.nz The report made 58 recommendations, including a central licensing body for repossession agents and criminal or civil penalties for any illegal conduct. If the accepted the changes would require consumers to be told upfront about when repossession could ... |
Former homicide detective pleads guilty in Melbourne Magistrates' Court to ... - Herald Sun
Former homicide detective pleads guilty in Melbourne Magistrates' Court to ... Herald Sun FORMER Homicide Squad detective Andrew Donald Tait has pleaded guilty to leaking information about a case involving an alleged contract killing plot, a bashing, details enabling car repossession agents to locate vehicles and drug possession, ... |
Debt collector may not call you at work - Victoria Advocate
Debt collector may not call you at work Victoria Advocate A creditor or debt collector is not required to repossess a car if you do not pay. The collector may have the "right" to repossess, but no obligation to take the car, even if you offer to return it. For example, if the cost of the repossession is ... |