Quote:
Originally Posted by MrBaker
lol...Your "rant" seems to be focused on repo in the US while his stories seem to take place IN OTHER COUNTRIES where things are different. He also said that 3 quarters of the jobs get done without any problems so maybe those are the ones in the US. As far as his fee is concerned, when you have to search the globe for a jet hidden away in the middle of nowhere then yeah I'd charge a high fee. Just my $0.02!  |
Actually, if you read the article about the jet in question it was located in South Carolina...now unless he rushed out and got licensed in South Carolina, then he broke the law...wrongful repossession. Unfortunately, just because you're licensed in one state, doesn't mean you're licensed in all of them. Same holds true for international repossessions. You don't get to simply "take" because you have a piece of paper that says a bank owns the collateral...the banks he's working for are US banks, so US laws apply to where the loan originated from.
Searching the globe for an airplane is as easy as calling in the tail numbers. It's not rocket science. It's very easy to find stuff...the bigger it is, the easier it is to find. Try locating the right Chevy pick up registered to Jose Gonzales in New Mexico...THAT'S impressive when accomplished. Articles like this glorify this job...the adreniline high is what keeps people in the business...stealing in the middle of the night and getting away with it. After a few years, you get hardened to it and you start bringing the negatives home with you because there's no way to turn it off when you're knee deep in it EVERY day.
And here's the best part of the job...collectors at the banks, they go home at 5pm...they take paid vacations...they get every holiday off to spend with their families...repo guys, are expected to work every holiday, even Christmas and banks actually offer incentives for cars picked up during the holidays. They'll never tell the debtor that, but $500 spiff to grab any of their open assignments before midnight on Thanksgiving is VERY common. And guess where everyone is during Thanksgiving....at their families house...like I said, it's not rocket science.
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