What legal qualifications or licenses are required to become a vehicle repossession agent?

The smartest way to get in the business is starting to work for another company. There are many laws and regulations that very from state to state, and if you are getting into it with no experience, chances are good you won't last. Work a few years for a local repo company as a driver, and as you learn what you need to do, it will be a lot easier to start your own company. Everyone on here that is wanting to repo cars, yea you can go get your license, get your bond, but the big question is, where are you going to get the finance companies that will give you accounts? You need to know what you are doing before you get into this business.

  • Another good way to get into the repossession business is to go to a school. However BEWARE - most schools, classes, and courses you see advertised are actually Online or "Read-a-Book" type programs. I would suggest looking for a real repossession school taught in a real classroom by experienced repossession professionals. There are very few out there, but if you look hard enough you can find one. Try Midnight Express Recovery Agent School. They provide training in all aspects of repossession including preparation for the CARS (Certified Asset Recovery Specialist®) test and certification.

    This depends on where you live.

    • In Florida and California, you have to be certified by the state. State permit etc. Other states, mostly wide open. It's NOT a very regulated industry yet.
    • In California you must be employed by an agency that is already licensed by the state. You must then be registered as a repossession employee for at least two years before you can qualify to take the state test to become a qualified manager. All agencies must have a qualified manager for each office.
    • In Pennsylvania, you contact the Pennsylvania Department of Banking for an application for Licensed Collector-Repossessor. License is required under Title 69 section 601. You have to file an application with a bond of $5,000, a $350 license fee, and fingerprints for a criminal history check. The annual renewal fee $250. The license is issued under the Motor Vehicle Sales Finance Act. Records are required to be maintain on business of collecting payments or installment sale contracts or repossessing motor vehicles. More details are in the Motor Vehicle Sales Finance Act.
    • In Maryland contact Maryland Motor Vehicle Administration,
    • In Alabama, Tennessee, Georgia, and Mississippi, all you need to do is notify the police after the repo has taken place. You need to treat the people with the same respect that would you yourself would expect. Keep in mind you need to get a locksmith fast because the lender is paying for it. In Ms you need a license and you have to be bonded at a cost of between $10,000 to $15,000 per year with 30% down.
    • In Washington State you do not have to be certified. (Surprising, considering how over regulated everything else here is.) The best advice I've heard is: DO NOT GET CAUGHT BEING UNDER-INSURED.
  • Look up a repo company in the phone book, call them, and ask to come in for an interview with the boss/owner. Ask how to become a repo man and write down the facts you are given.
  • The agent must be licensed and the lender must receive a replevin judgment from the court before a vehicle can be recovered. The exception to the replevin order is the borrower signing a voluntary relinquishment of the collateral property.
  • Any state will want to have a way to TAX your profit, so yes you will need a license. $20-35.00. Plan how you do it.
  • In the State of Ohio, a Repossessor Lic. is not required. I spoke with the lic. dept. at 1-614-645-8366. You do on the other had need to know the laws, and UCC. Ohio TITLE STATE: Yes SECURITY INTERESTS: Shown on title held by lien holder.
  • You need a business license and insurance. Some certification training will be a big help.
  • State of Texas - capitol.state.tx Texas
  • TITLE STATE: Yes SECURITY INTERESTS: Shown on title held by lien holder. LICENSE REGISTRATION: Texas State Department of Transportation, Division of Motor Vehicles
  • There doesn't appear to be a minimum education level to qualify as a recovery agent. Some of the best agents are the least "educated".
  • There really isn't a "such and such degree required". However, it takes smarts to do it successfully. Not any ol' joe can jump in a truck and "go repoin'". A lot of what is necessary is common sense and experience. My advice would be to find a local recovery agent and ask to tag along for a while. Be an apprentice at it.If you don't know what you are doing, you could get shot, beat up or sued. I have done repos for about 5 years now and never had any of those things happen because I took the time to learn.
  • It depends on what state you're in and what your CLIENTS want. call your state TAX commission for starters.
  • Depends on what state you are in. In NYC All you need is a place to store cars, Insurance, and a Business License
  • Work in the industry for a while, take a job with one of the existing companies and learn what's going on. You won't have any credibility if you just open a business. You'll have to start as an employee then you'll need to start small.