How to Get an Illinois Repossession License

Save

A car repossessor in Illinois is anyone who is in the business of car recovery, location or storage of vehicles used to secure a loan, according to the Illinois Recovery Association. Only licensed businesses in Illinois can act as recovery agents, and to properly repossess a vehicle you have to either start a licensed business or work for one. Car repossessions in Illinois require strict adherence to the law, so talk to an attorney if you need legal advice about properly repossessing secured property.

  • Meet the basic requirements. Illinois recovery agents must be at least 18 years old and must complete a Certified Asset Recovery Specialist certification program. Further, a person cannot have had their recovery license revoked within the past four years or have been convicted of a felony offense for crimes including fraud, forgery, perjury, bribery, theft or other crimes involving dishonesty or deceit.

  • Prepare an application. Repossessors must apply for a "Non-Relocation Towing" license through the Illinois Commerce Commission. The application requires such information as the name of your business, details about your business and a list of drivers employed by your business.

  • Submit the application with the appropriate fee. You must submit your application by mail along with a $50 check or money order made payable to the Illinois Commerce Commission.

    Illinois Commerce Commission

    527 E. Capitol Avenue

    Springfield, IL 62701

    (217) 782-4654

    icc.Illinois.gov

Tips & Warnings

  • Some cities, such as the City of Chicago, have additional licensing requirements that apply. Contact your local municipal government agency for details about any local requirements.

References

Promoted By Zergnet

Comments

You May Also Like

Related Searches

Check It Out

Are You Really Getting A Deal From Discount Stores?

M
Is DIY in your DNA? Become part of our maker community.
Submit Your Work!