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In Florida, repossession businesses are regulated by the Florida Department of Agriculture and Consumer Services. To become a licensed repossession business in Florida, you must meet certain requirements:

Complete a training course: All applicants must complete a 40-hour training course on repossession techniques, legal procedures, and safety.

Obtain a surety bond: Applicants must obtain a surety bond in the amount of $25,000.

Pass a background check: All applicants must pass a background check, which includes a criminal history check and a credit check.

Obtain insurance: Applicants must obtain liability insurance in the amount of at least $50,000 per person and $100,000 per incident.

Submit an application: Applicants must submit an application to the Florida Department of Agriculture and Consumer Services, along with the required fees and supporting documents.

Obtain a license: Once the application has been approved and all requirements have been met, the Florida Department of Agriculture and Consumer Services will issue a repossession business license.

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Ankit Kumar

Lvl 2
2y ago

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