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Who is a recovery agent?

Updated: 9/13/2023
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9y ago

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A recovery agent is a person who repossesses or takes things back for financial institutions. If a person is financing a car and quits making their monthly payments, a recovery agent may come and take the car from the person and give it back to the finance company.

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9y ago
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Related questions

What is the first step in creating an EFS Recovery Agent?

enabling the EFS Recovery Agent template


Do i need a license for recovery agent in Texas?

its none of your business


Can you carry a recovery agent badge when doin repos in Texas?

yes you can!!!


Will you need a recovery license to repo in Texas after September 2008?

I am wanting to start my own recovery agent biz. i need someone to point me the way. i am in Texas .


Where do you take your car to voluntarily reposes it?

You call the finance company and state your intent to them. Either they'll send a recovery agent to repossess it, or you might be able to take it to the repossessing agent.


Is it difficult to become a recovery agent?

== == Its more difficult to KEEP it (put up with/cope with the stress and working hrs) than it is to get it.


How do you be a recovery agent in Massachusetts?

Contact one of the larger recovery companies. There are several who work Massachusetts, such as Diversified and Renovo. Do yourself a favor and look at what is said about prospective employers in the industry on Repoman. They have a web site, the link is below.


If the recovery agent took the vehicle 3.5 hours from your home do you have to arrange to go get it?

YES, it is your responsibility to go get it if you redeem it. The lender had to pay the agent to drive the 7 hrs(RT) to get the car. Is it in Hattiesburg,Jackson or Memphis?


How do you recover a car registered under your name borrowed by a friend?

Tell them to give it back, call in a recovery/repossession agent, report it stolen.


what are the requirements to become a licensed travel agent in the state of Nevada ?

Since no license is required to be a licensed travel agent in Nevada the answer would be none. Nevada require travel agents to pay into a recovery fund set up for consumers.


How can you get your car back you leased to a former friend that defaulted on the payment?

Hopefully, you had the good sense to put a lien on that vehicle. You can have a recovery agent repossess the car.


Is the lender or the repossesion agent responsible for a vehicle that is damaged during recovery action in Missouri?

The lender is always responsible for any damages to the vehicle itself.