As in any business, you need a product[ability to repo a vehicle legally and safely], tools to make the the product available[if it is a service KNOWLEDGE, truck, equipment, storage], and someone willing to PAY for the product[clients, banks,finance cos,BHPH lots]. IF you wish to be an agent, you need a desire/ability to be trained, a person to train you, and the tolls to work with. email me if you need more info. Good Luck and STAY SAFE
do I need to be bonded in nystate for repo cars
Yoy will need a business license, insurance, a tow truck, a SECURE storage lot, customers- and a knowledge of repo laws in your state. Can of pepper spray is optional.
Any business is hard work to open so a repo business would be hard to open as well.
i think its about 3 0r 4 months then they will call and ask you where can they pick up the car
You can repo your own car but you cant start a business without a license.
What are the requirements to become a repossesion business in Florida?
wanting to start a repo service in Illinois and need to know what all is needed?
To start a repo business in PA, you must be licensed and bonded by the state. The license fee is approximately $250 and the required bond it $5000. See the "Motor Vehicle Sales Finance Act" Act of 2002, no 186 for complete details.
what do i have to do to become a repo man in Michigan
I suggest you do a little reading befor you go out in the repo world. Read this first and then, this Take your time, the more you know, the better your chances of success.
Two years work experience under a licensed repo agency within the state of California is required before starting repo business. An exam is to be taken to be a "Qualified Manager" which is required to ?æbe stationed in all branches. A CA business license is required before operation.
No Repo! started as the Necromerchent's Debt written by Terrance ZdunichNote: The book you may be thinking of is Repossession Mambo which is what the film Repo Men is based from.
In Repo rate there is need of securities submission. In Bank Rate, there is no need of Security submission.
The active towing company will need REPO insurance and REPO agents. And some REPO clients.
Yes you do
YES, a lender can get a judgment for the balance owing on a loan after repo.
Being a spotter is a helping hand for repo companies. All you need is a drivers license and sometimes a car, Just ask your neighbor hood repo company if they need help finding the units
Depends on the state laws, they may need to serve you with a eviction notice before repo. Although if nobody is home and the repo man shows up good chance they would repo it and expect nobody lives in it.
alot but not to to much
Repossession agents are not typically paid a salary, nor are they typically paid hourly. Repossession is a per unit business. That is, the repo man is paid by the vehicles he recovers. Amounts vary by the individual business.
no! look into a law suit!
Radio station Repossession specialist (Repo man) Realtor (Realty or Real Estate business) RadioShack
You have to pay for that information. The repo biz is a private and sercet biz.
NO. YOU NEED A R# FROM THE STATE.