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How do you go about opening your own repo business in a rural Missouri town?

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2015-07-15 19:31:41
2015-07-15 19:31:41

Missouri

TITLE STATE: 1975 and subsequent years. SECURITY INTERESTS: Shown on title held by lien holder. LICENSE REGISTRATION: Missouri Motor Vehicle, 301 W. High St., Jefferson City, Missouri 65105. Tel.:(573)751-4509. RECOVERY REQUIREMENT: After Twenty Day Right To Cure Letter from lien holder to debtor, repossession allowed without committing a breach of the peace. DOCUMENTS REQUIRED FOR LIQUIDATION: Affidavit of Repossession, Application for Missouri Title. PLATES: Remain with the debtor.

http://www.moga.state.mo.us/STATUTES/STATUTES.HTM

http://www.moga.state.mo.us/STATUTES/STATUTES.HTM#T27

Outdated law voids consumer protection Posted by admin on Wednesday, April 28 @ 03:36:51 PDT (6 reads) By Michael D. Sorkin Of the Post-Dispatch 04/27/2004

The reason he could is a gaping loophole in Missouri's 4-decade-old law requiring lenders to give notice before repossessing a motor vehicle when the borrower misses a payment. The loophole limits the law's protection only to motor vehicles that cost lessthan $7,500. Your new Ford Explorer, Honda Accord, Chevy Impala, or any other vehicle that cost at least $7,500, isn't considered a motor vehicle under this law.

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