Want to be a Repoman
You think you want to be a Repo Agent?
There are many advantages to working for a repo company rather
than owning your own. If you choose the path of repo agent
rather than agency owner, here are a few things to remember and
understand. There are many more, but these are clearly the most
important. These are things that you should tell yourself on a
daily basis. 1) YOU are an arm of the lender (bank or finance
company) and your boss's company when you are in the field.
Anything and everything that you say and do reflects on them,
including the way you dress. Dress neatly in clean clothing.
Think about the fact that you may have to knock on a door, make
certain the debtors are not afraid to open it due to your
appearance.
2) YOU do not have any personal dislikes of the debtors. They
are people who for whatever reason have chosen not to make their
car payments. It is possibly because they are deliberately
trying to rip off the lender and get by with it. It is also
possible that they have fallen on hard times due to illness, a
lay off, etc. While you prefer not to have any contact with
them, you will no doubt have to at times. When you have debtor
contact remember, they are not your enemy. Also remember, you
nor your boss gets paid if you do not repo their car. This being
said, it is in your best interest to carry yourself in a
professional manner. Always trying to be very polite,
sympathetic if necessary. They probably assume you are an
employee of that bank who has been calling them non stop for
money for the last three months! Offer to allow them to remove
their personal property from the car IF they hand you the keys
to open it. This not only relaxes them a little but also puts a
key to that car in your hand. They may have the wheels turned
and locked or your boss may simply want a key to each car on his
lot. Regardless, it is helpful to have that key. Most debtors
will appreciate you allowing them to remove their property (car
seats are a big deal with parents) and this saves them money if
they have to go to your boss's lot and pay an inventory fee the
next day for their property, all while giving you the keys. Keep
in mind that it is a very good idea that YOU open the car with
the key not them. Some debtors do keep loaded guns in their
cars. If you are able to keep a steady eye on your surroundings
and help them then by all means offer to help them remove their
property. ALWAYS WORK SMART NOT HARD!
3) There will be times when you are forced to "drive away" a
car. This may be because your partner (if you have a teammate in
the wrecker) already has one car on the hook and now you have
picked up another. Chances are you will have keys to one of the
two. First and foremost get it off the debtors property. Once
safely away from the debtors property, check this car over well
before driving it any further. Always remember that you know
absolutely nothing about this car. Check the oil, tires, etc.
You do not want to be 5 miles down the road and blow the motor
due to no oil. Nor do you want to blow a tire and lose control
causing an accident. This step is for your your safety. as well
as your boss's liability.
4) The hours you will work will not be good ones. You will
quickly learn that in order to avoid debtor contact and find
cars at home address, the hours to repo are normal sleeping
hours. You had better hope that you have an understanding
family. Those dinners out with your other half will become non
existent. If there are children in your family, someone has to
cook their dinner, see that they have homework done, take a
bath, etc. That person will also be sleeping alone! YOU will
likely not be there to help with those things. It is important
to understand that your "need" to become a repo agent is going
to put many added burdens on people other than yourself. It is
of utmost importance to have a good solid relationship and
plenty of understanding. Remember to let that person know how
much you appreciate them on a daily basis!
Other than that there are three simple yet important things to
remember:
1) That equipment is not yours, you did not pay $50,000.00 for
it. Pretend you did and take very good care of it. You will be a
very valued employee if your boss sees this in you.
2) One major lawsuit can close a repo company. Pretend it is
your company and do everything in your power to avoid the risks
of a lawsuit. If his/her doors close, you have no job.
3) If you are being humane to debtors, driving cars safely,
using the wrecker safely, and have support waiting for you at
home, all while working the hours required by your
boss...........then you should be fine as an agent.
Just do not ever say you were not warned!