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Repossession Questions and Answers

Repo Jobs has compiled a list of common repossession questions that have been emailed to Repo Jobs over time. Please email us any repossession question that you would like to see answered here on Repo Jobs.

Questions for Repo Jobs

How do I get started in the repossession business?

Most repossessors got their start in the repo business by working for a car dealer that provides in house financing. Most buy here pay here lots have dozens of cars they are looking for. Most will even have kept an extra set of keys, making the repossession that much easier.

Some repossessors get their start by working at a towing company that occasionally performs repossessions.

Can I have my X-spouse's car repossessed?

If you are listed on the title of the vehicle as the owner or lien  holder, you have the right to possess the vehicle. You therefore have the right to repossess your vehicle. Certain state laws must be adhered to in the process, such as not breaking the peace while performing the repossession. The repossession must also be performed by a licensed and insured repossession agent.

This type of a repossession is referred to as a private party repossession.

How can I stop a repossession order?

Once a repossession order has been issued on your car, there are four ways the repossession order can be lifted:

1. The repossessor takes your car.
2. You file a bankruptcy.
3. You pay the loan off.
4. Voluntarily surrender the car to the repossessor.

Voluntarily surrendering your vehicle can save you from having the repossession appearing on your credit report. That is important when it comes time to purchase your next car.

Federal law requires the lender to offer you the right to redeem. The bank is required to give the car back to you once you pay the bank the past due amount.

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