How to Be a Repossession Agent

Repossession agents work to recover personal property that its owners are no longer paying for. Most notably, repossession agents are known for taking back possession of cars when their owners fail to pay the monthly bill. Repo agents do not work for themselves, however. They must align with a state-approved repossession agency and follow state laws regarding licensure and certification.

Instructions

1. Check with your state’s board of licensure to ensure you meet the minimum requirements to become a repossession agent. In most states, you have to be at least 18 years old and submit to a criminal background check. You also must have some experience working in the industry in most states.

2. Gain experience working as an apprentice for a repossession agency. Contact repo agencies in your town to find out if they are taking on an apprentice. Contact your state’s board of licensure to find out if you need to obtain a license to work as an apprentice. In some states, such as Louisiana, you do. Work in the industry, shadowing licensed repossession agents to familiarize yourself with the job.

3. Earn your repossession agent license. Specific requirements vary by state, but you can expect to complete an application that lists your basic biographical information, along with your work or apprentice experience in the repossession industry. Many states run your fingerprints to conduct a background check. Submit your application, and wait for the state to approve your license.

4. Secure a job with a repossession agency. If you were an apprentice at one, start there in your job search. Submit your resume, with information detailing your experience working in the industry, to repossession agencies in your area. Ask previous employers to serve as references to testify to your work ethic and knowledge of the industry.

Tips & Warnings

• You can work your way up to a qualified manager of a repossession agency. Some states, such as California, offer a Qualified Manager license of repossession agents who have 4,000 hours of repossession experience within the last five years. You will have to take a test to earn your license, however, so you must have a strong knowledge of the repossession industry and its laws.

References

• California Bureau of Security and Investigative Services: Repossession Agency Fact Sheet
• State of Louisiana Office of Financial Institutions: Repossession Agent/Apprentice Application Instructions
• California Bureau of Security and Investigative Services:Frequently Asked Questions - Repossession Agency Qualified Manager (RAQ)