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How To

How to Become A Repossession Agent

Contributor
By eHow Contributing Writer
(3 Ratings)

A Repossession Agent is someone who contracts work from local companies. These companies contract you, the repossession agent, to legally retrieve their property from another party that has failed to make regular payments or pay off a contract.

Difficulty: Moderate
Instructions

Things You'll Need:

  • Tax ID number
  • Phone Book
  • Vehicle
  • Computer
  • Internet Access
  • Telephone
  • Business cards
  • A friend to work with you

    How To Become A Repossession Agent

  1. Step 1

    Make appearances at local used vehicle lots. This will allow the owners to know your face and name, so they are more apt to use your services. Always leave a card for future reference, and keep track of the names of people you speak with at each business.

  2. Step 2

    Call used car lots where no one was available to see when you visited. Let them know you are interested in repossession for their company. Most of the time a company does not care that you do not have a removal vehicle, as long as you have more than yourself working their case.

  3. Step 3

    Put your services on the Internet. Use local job boards for your city with a name and phone number where you can be reached at any time. As a Repossession agent, you can never be incognito, as someone always needs to speak with you. Set a reasonable flat price, or do not quote a price until you know the mileage involved.

  4. Step 4

    Offer to do one case for free if a company is still a little concerned about using you, instead of someone they already know. Use this case to show your efficiency, turnaround time, and safety. When you return the vehicle to them in top shape, they will be more likely to hire you on a permanent basis.

Tips & Warnings
  • As a Repossession agent, you are responsible for the vehicle and all contents therein until it is returned to the company of rightful ownership. If the person you are repossessing from does any damage to it as you are taking possession of it, this is your fault and is seen to be from the hiring company. Do your best to avoid confrontation, and always keep a copy of repossession papers on your person when taking a vehicle. Call this in to the local police department so there is no confusion over a stolen vehicle.
  • Different states have different laws regarding the start up of a new business, as well as rules regarding repossessions. To find out more about your state, contact your local County Clerk Office of the Court.
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