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.... Texas 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. DOCUMENTS REQUIRED FOR LIQUIDATION: Repossession affidavit (D12-264) if Texas title; out of state repossession affidavits accepted. PLATES: Remain with the vehicle. http://www.capitol.state.tx.us/statutes/statutes.html If you have more specific questions, email me. Good Luck
To start a repossession business you must file the appropriate business license. Many repossession businesses also have insurance and a bond for their business.
check out laws and regulations in your stae(georgia)
According to the websites, below, no license is required to run a repossession business in Texas, but there may be a need to get a basic business license within the specific community, especially if the business requires parking and/or fuel facilities, and/or the use of arms and weapons, etc., not to mention a towing license, assuming you intend on executing the repossessions, rather than just doing the investigative end of it. Consult the Texas Department of Transportation and your local Chamber of Commerce, Town Hall, or similar government offices.
You can start researching Texas law at the Related Link below
Sample letter of vehicle repossession for the state of texas
No, all that is necessary is a valid repossession order from the lender.
Some states have set maximum amounts for repossession fees. The state of Texas,. however has not set a maximum amount on the fee that can be charged for a car repossession.
Legally if you miss 1 payment you are delinquent and they can start repossession proceedings on their vehicle.
All US states require the repossession agency be licensed and bonded.
It might be easier to contact an existing repossession service such as Renovo, Inc. They contract service providers in other states to conduct repossessions in their local areas. This way, you get experience in the business, and they take care of all the red tape.
When doing a repossession in Texas can you block their car in?Check with the local police departments. You probably can, as long as the car is NOT parked on private property.