Repossession
Auto Insurance Claims
Celine Dion

Can you get paid by a repossession agent for reporting the location of a hidden car or truck on their hit list?

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Wiki User
2005-09-20 13:33:13
2005-09-20 13:33:13

I'm sure that you get a finders fee. But I personally would call the company and ask them. Either way you should let them know to be a good citizen!!

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WHAT CITY / STATE IS THE VEHICLE IN? YOU CAN EMAIL ME DIRECT @ SOUTHERNWRECKERSERVICE@YAHOO.COM

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Repossession of what? Who? The repo agent?

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my answer is to just go to oklahoma and just you becomes a repossession agent..........this is not real DONT DO IT.

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I am a repossession agent in Virginia it takes 2-3 months of not paying before the repossession status occurs.AnswerI am a repossession agent in Virginia it takes 1 missed payment then repossession status occurs.

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How much do repossession agents commonly make?

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To become a repossession agent in Minnesota a license from the state is required. A tow truck and license to operate it are also needed.

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The repossession agent shows up and takes the car if everything goes correctly.

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search on "recovery agent" + OHIO" in your browser.

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Pay the note or lose the car. The vehicle may be recovered from any location that is discovered provided the repossession agent does not violate the FFDCP Act or break the peace. If the debtor breaks the peace, that is on the debtor; many go to jail for such behavior.If the repossession agent is not able to notify the debtor that he has secured the vehicle, the agent is legal bound to contact the jurisdictional law enforcement agency that a repossession has taken place with 24 hours of securing the vehicle. Most contact law enforcement as they are driving away from the recovery.

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The repossession agent is not a law enforcement agent, and has no such authority.

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They repo agent will take it when your not looking. The agent still has a job to do and only get paid if the jod is complete.

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Only if they want to be charged with kidnapping. NO.

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When you purchased the car, you may have received a lien title from the state. This is not a clear title of ownership. The lender in essence still owns the vehicle, at least part of it. It is held in security for the loan. If you are a repossession company or agent, you will be required to have an order of repossession. But, if you are a repossession company or agent, you should already know this.

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After repossession, the lien holder or agent sends information on how to reclaim the vehicle; if the owner does not respond or cannot repay the outstanding debt, the agent removes all personal belongings and sells the vehicle at auction. You will then be liable for the difference in what it sells for and the balance on the loan plus repossession fees.

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Click this link. Read it and thinks about it. Good Luck

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Get yourself a business license and some clients.

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Then they're liable for the damages. You need to file a police report immediately.

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In many of the states where repossession licenses are required, the new or prospective repossession agent will be required to apprentice with a licensed repossession agent. The repossession company will hire new drivers to ride with older, more experienced drivers who teach them the trade. In some cases, new drivers may be required to rider for a time in a "spotter" or camera car. Apprenticeships typically last for one year.

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Well, it's not your car you're hiding. The financier is the one who owns the car so long as they hold the lien on it. They can do a number of things, ranging from taking you to court (if they feel it's worthwhile to do so) to reporting it stolen (if a certain set of conditions exist enabling them to do so, among which is you telling the repossession agent that you don't know where the car is).

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No, a juvenile cannot enter into such an agreement and the repossession agent could be held legally accountable for attempting/taking part in such action.

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No. The only vehicle that can be repossessed is the vehicle for which the agent has a valid order of repossession, OR in some cases, a vehicle the agent encounters (such as reported by a camera car) in the process of locating another repossession. Anything other would be wrongful repossession or possibly grand theft auto and extortion.

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Thay can, and in many jurisdictions it is required before repossession is performed. In others it is only necessary to notify police within 24 hours of recovery.

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In most cases none. All things being equal, it will be your word against the word of the repossession agent. Most repossession agents are very familiar with local judges and law enforcement. You defaulted on your loan note. It is likely the word of the repossession agent will carry more weight.


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