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What is
a Repo Man / Repossession Agent?
A
repo man or repossession agent is
one of the most unpopular people in
society today. However, he or she
serves an essential function of
insuring the protection of property.
When someone cannot pay for a debt
that they took on, debt collectors
step in and try to recover the money
owed. When debt collectors cannot
acquire the amount due from the
debtor, they may call upon the
services of a
repo company to 'collect' on
this debt, by taking back the car,
boat, or other property that debt is
owed upon. Contrary to popular
belief, no company or creditor wants
to have to collect bad debts, as it
is very costly to do so. A creditor
would far rather work out a deal
than have to search and seize
property from a debtor.
If a lender finds itself in the
situation of needing to repossess
property while the borrower attempts
to avoid paying the debt, the
creditor may contract the work of
repossession out to a
repo company.
Repo companies' employees are
known as
repossession agents, or
repo men. Though most often, a
repo man is employed by a
repo company, many
repossession
agents work as independent
contractors to lending institutions,
credit-card companies, or other
repo companies.
A "repossessor" is any person who
engages in business or accepts
employment to locate or recover
personal property registered under
the Vehicle Code or other personal
property sold under a security
agreement (from
http://www.dca.ca.gov/complainthelp/).
Become a repo man
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