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What else can I help you with?
If you got the vehicle in one state where the lender is and now live in another how does the repo work with an out of state vehicle?
Usually the bank has a list of repo companies they do biz with and they pick one to repo the car. Maybe the closest to the car, maybe the cheapest, whatever.
What happens when they repo your car and they shouldn't have?
If the bank made a mistake they will return the vehicle to you, the repo company is under a hold harmless and work the accounts the banks give them.
Can the repo company harass you at work to try to locate the vehicle?
No, look up the Fair Debt Collection Act its online.
When repossessing a vehicle on private property can the repo co take the vehicle without serving some kind of paper work in North Carolina?
YES, repoing a car is NOT trespassing. They are there for a lawful reason. IF you ask for paperwork, it would be polite for a recovery agent to show you the papework. Unfortunately, FEDERAL privacy laws PROHIBIT showing personal info(repo paperwork) to anyone other than the debtor.
If you repo a vehicle and the title is in the buyer's name and they won't sign it how do you get it titled in your name again?
Call your state DMV. They have procedures for the title work.
Can repo people legally enter your place of employment to take your vechicle or can they only take the vehicle from the premises of where you work?
They can go anywhere that's not locked.
If your loan is current and you turn the vehicle back in to the lender can it still be reported as a repo?
YES! A repo is a repo. If you turn the vehicle in to the lender and stop making payments this is called a voluntary repossession. The lender will sell the car and you will be responsible for the difference in what the car sells for and the balance on the loan. It will be reported to all 3 credit bureaus as a default on a loan, and your credit will be ruined for 7 years. You would however save to repo fees such as towing. Do not do this. Call the lender and work something out if possible.
Can they repo you vehicle with a work trailer connected?
They can disconnect the trailer, but, if that trailer isn't included in the order for repossession, they cannot take it - doing so is theft, and a crime.
Can a repo man come to your job and take your car while you are at work or can you stop him?
I worked with a guy that had the repo man come to work to take his vehicle, so yes they can come to your work. If you haven't been making the payments and they decide to repo your car that is that and I don't believe they have to go through any sort of legal procedures to come and take your car. You didn't pay so they come and take back their property, simple as that unfortunately for you.
Can a mechanic repo?
Some mechanics may work as repossessors, but they can only repossess when contracted to do so by the entity which holds the lien to that vehicle. What you're probably thinking of is a mechanic's lien, which is a lien placed against that vehicle due to a delinquency in payment for work performed.
What is needed to start a vehicle repo business in California?
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.
Can a mechanic repossess your car in Texas?
Yes a Auto Mechanic can repo your car in Texas. Just call a Repo company, they will give you a form to fill out called "Letter of Authorization". You send the "letter of Authorization" form to the repo company along with a signed work order that Mr. Customer should of signed when they dropped off the vehicle approving you to work on there vehicle. I use the old school basic work orders to check a customer/vehicle in and have them sign it. I also made my own "Letter of Promise" forms that I have them fill out if I agree to give them a credit line (which I try to avoid), just for extra measure. Thats all there is to it. Then if they write you a insufficient check, or agree to "pay you later ;);), and fail to follow through,, just send the paper work to the repo company with a check (usually cost $250-$400 depending on geographical area and location of vehicle),, a good repo company will have the vehicle the next day. Then you charge the customer for the repo fee and add yourself some administration fees, pain and suffering fees, mental anguish fees, dont think i'm rich just because I own a business fees...you get the idea..plus what they owed on the bill or bad check. Most important thing... make every customer sign a work order.
