Question by  emmasma (14)

How can I get started in the repossession business?

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


Answer by  patti (29325)

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.


Answer by  QuestionGirl (146)

You can either contact a company directly and let them know that you are interested in repo "manning", they might employ you to reposes items if they consider you qualified for the job. In addition you might put an add in the newspaper or yellow pages so that you can be recommended.


Answer by  melissa23 (1002)

Talk with a CEO of a finance company. Get your vehicles and decide what to charge for gas and your vehicle expenses. Decide how many employees will work for you.


Answer by  JamesFerguson (23)

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.


Answer by  tamarawilhite (17883)

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.


Answer by  bharathi (22)

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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