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How can I get started in the repossession business?

I think I would like own and run a repossession business.

asked by emmasma (12)

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Tags:  business  how to

answers

Each state has specific laws regarding the repo business and the licensing of agents. Start by looking into these laws. Call around to repo agencies in your area and find out if one of them will consider taking you on as a trainee. Keep your plans to branch out to yourself. Focus on learning the business.

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posted by patti (17701)
8 votes

The first way to get started in the repossession business is to have a repossession truck of some sort. At that point you would speak with car dealerships asking if they need your services and set up a contract with them to get a list of clients.

5 votes

You need a license to run a business in your state. You need a permit to repossess, as well as insurance to protect against being sued. You need to know the laws regarding repossession for your state.

4 votes

We necessary to find out about bonding and licensing requirements in our state. We must read our states statutes to learn what consists of a legal and an illegal repo.

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posted by bharathi (22)
3 votes

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