Are there any special requirments or licenses to operate a repo business in Texas?
YES, you have to THINK about what you want to know and have the iniative to look for yourself Does the word M-O-N-E-Y ring a bell? LOL Decent truck=$25K,INSURANCE(IF you can get written)$15Kper year office= phone lines,computer,faxes,cell ph,files,5-10K.
AFTER you get all that, do you have CLIENTS???? Are there other repo companys servicing your area? You dont want a price war to start with.
LAWS. Do you know them? FDCPA, G-L-B,FCRA, ect.... TITLE STATE: Yes
SECURITY INTERESTS: Shown on title held by lien holder.
LICENSE REGISTRATION: Texas State Department of Transportation, Division of Motor Vehicles, 4000 Jackson Ave., Austin, Texas 78738. Tel.:(512)465-7611.
RECOVERY REQUIREMENT: As per UCC, repossession allowed without committing a breach of the peace.
PLATES: Remain with the vehicle.
If you have more specific questions, email me. Good Luck
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