“Starting Your Own Repossession Company”
Comment Page 1

  • sheldon lusttgarten said on March 11, 2011
    i have done repo work before want to start my own up in spartanburg sc 29301 plz adv
  • JESSICA said on March 12, 2011
    LOOKING TO START A REPO BUSINESS ON LONG ISLAND, JUST WONDERING IF THERE ARE ANY COMPANIES THAT HAVE NETWORKED WITH BANKS/LENDERS TO ASSIST IN OBTAINING JOB ASSIGNMENTS
  • Isaac said on March 16, 2011
    How can I get started with one truck and 2-3 people including myself???
  • Kevin said on April 6, 2011
    I am in Atlanta Georgia. I have been wanting to start my own repo company for a while now. How do I get started?
  • Mid-States Recovery Service, LLC said on April 9, 2011
    I have a turn-key repo business that has broken the 2 year mark to help secure larger contracts. Please let me know if you are interested. We are located in Wisconsin but the company could be moved anywhere. Eric@midstatesrecovery.com
  • DARYL WHATTS said on April 24, 2011
    LOOK TO START A HIGH END REPO BUSINESS IN TRI STATE AREA NEW YORK NEW JERSY LONG ISLAND CONN. I SOME CAPITAL TO START AND STRONG MINDED PEOPLE. I AM LOOKING TO DEVELOP A WORKING RELATIONSHIP WITH SOMEONE IN THE BUSINESS THANK YOU. SECOND EMAIL.JOE FRAGANO @GMAIL.COM
  • maxwell ngwari said on June 16, 2011
    I live in Harare Zimbabwe. I ready with much interest about Repo, business. Its something very new to me but i would like to start this business in Zimbabwe because there is a lot of opportunities. Can someone help me with Business plan so that i can follow and look for the start up capital.
  • Khadijah Beymoore said on June 19, 2011
    YES, HELLO MY BUSINESS WILL BE HELD IN THE CENTRAL ILLINOIS, PLEASE CAN YOU GIVE ME SOME INFORMATION ON THE REPO BUSINESS ON HOW TO START UP. THANK YOU.
  • Shannon Johnson said on June 21, 2011
    Little Rock, Ar. Hello my husband is considering joining with a friend that already have a little set up going. Need more information, would like for everything to be legit for the most part. Please help
  • Jerry Greer said on July 5, 2011
    Knoxville Tn , USA I am really interested in starting a recovering agency if you could please send me some information that it would be great
  • Ron Hale said on July 8, 2011
    Portland, Oregon I am really interested in starting a repossession company. Need to know where to start. Would like details thanks.
  • Rich Hadsell said on August 18, 2011
    Hello love the comments on get experience and or training first. And yes operation repo is a comedy I just cant stop watching at least they have new equipment now. however in my day it was hook and book unlock, brake off, or netrual or under car netrual after that they sure were not going to drive it no asking for keys or argue although if need be nice and polite honey and sugar not threats or violence. any way even with a sling and dollies. you should be gone in 10 to 20 seconds maybe if dolies or weird angle or tight spot if they parked it it can be towed out. oh yes that would take a min or two more but no freakin lunch needed more like south beech tow. If any one would be willing to advise on any company In san diego county for need of apprentice in the repo business for training and or possible work or franchise,towing experience yes lock outs, dollies professional driver safe and quick last yrs trucking, previous Heavy duty tow ever repo tractor trl or hundred ton crane, its fun however before that was weened on AAA cals then police impounds with very heavy volume and private property impounds mixed repoes,Im bored and retired and think I could help a local repo co. out and learn much more about the trade that I just never got into Im smart enough to understand you just dont get a truck and find clients and wow a check. plus I would not want to step on guys in the local trench already. however you never know there might be a place for me somewhere. knowledge and patience promise of basics I have. any leads thank you I thought I could check at some of the old stomping grounds and see if they still share storage with the large towing company's stay safe.
  • Jay said on September 21, 2011
    I am selling a Long Island based Repo company with equipment. If interested email repoman7376@gmail.com
  • Nevada said on September 30, 2011
    It is virtually impossible to just start a repo co if you want decent clients which will ensure work at volume. The established names and companies in the industry have the big players in the game and the banks are usually not willing to jepordize their bottom line with someone who just wants a repo co with no experience. If you can over come that obstacle, you must be willing to work 24/7 and that includes catering to your clients. Be prepared to be a counselor, employer, mechanic, and a tow truck driver with some serious wits. In order to be a step of head of your competitor you also must have the most up to date technology and be willing to upgrade this technology as needed. But a repo co is a business and requires all necessary insurance, licensing and bonding just like any other business except with extraordinary workman comp rates and blown up liability insurance. (there are a very limited insurance co that will insure a 1st year reop co) My suggestion would be to establish a basic business (license, bond, insur, ect) and then market to clients. You must be professional and a marketable person, as you are selling a service that comes from you! You must have an office and a secured yard, as more and more lenders require pictures and lot inspections of your facility.So if you are serious about owning a repo co(it is not like on tv) then scout a yard and office, get all your docs and licenses and market the clients. Its all a gamble because at the end of the day - this is a service industry......nothing more.
  • Mark Robert said on October 13, 2011
    Dallas, Texas. where can I find the tax rate for the repo business??
  • Donovan Zandi said on December 18, 2011
    I am thinking about starting my own repo business as a partnership. About how much per new york state does it cost to start a business like this?
  • Dawn said on January 4, 2012
    Connecticut State. Hi Corey. My husband and I have worked in the automotive industry for 15+ years the two of us have done everything from billing, selling, towing, dispatching you name it we have acquired the skills.....We are tired of making thousands for our employers and trading our time to make them money. We are interested in getting into business for ourselves. We are interested in what the first's steps are to do this and what funding would cost. We are serious about this industry, we didn't just wake up and decide this is what we want to do. We need more information to make an intelligent decision if this is the right fit for us both. Thank you in advance for your time Corey.
  • Dmitry said on January 14, 2012
    I'm in the towing business I've been trying to get into the repo industry but I don't know why the insurance is so high over 15000 $ a year without experience can you tell me why so high r there better deals out there
  • Ken said on January 18, 2012
    I am looking to start up a repo company in ABQ New Mexico 87108. Wondering what is the best way to get started and what license's I would need for this state.
  • Brian said on January 19, 2012
    I have been in the Recovery Industry for nearly 20 yrs. in SW Florida. Many of you have the same questions. Why is insurance so costly, Why are clients so hard to find,and how do I start a Repo company? Save yourself! Jump! Dont Do It! Go to work at Mac D's or walmart. You watch too much TV. It is nothing like what you see on the boob tub. The hours are long the pay sucks. The Clients lie more that the debtors. They make you wait 45 to 60 days to pay you and expect you to take there customers collateral for being 45 days past due. Start a Towing company. The get paid more to pick up a car on the interstate from someone that called for help than We do for going out finding and recovering a car not paid for. So many people have entered in this market in the last 4 yrs. and have driving the prices so far in the ground there is not much room left to do the job safely. I am working for less now than I did in 1993 when I started in the career. If it werent for the reality tv B.S It might be a option. If my prior comments have not changed your mind. I may be able to help. Please feel free to email me at 2repou@gmail.com If you can afford a small fee I would be happy to show you how it can be done.
  • sheila said on January 24, 2012
    My husband and I are looking into starting a repossession company in Asheville, NC. what do we need to get started? And How much money? Thanks, Sheila
  • sergio said on January 28, 2012
    what is needed in the state of oregon portland have a truck all ready just really need info on what size bond thx you for you time sergio
  • Leslie said on February 1, 2012
    Blackdogg towing and 24 hour recovery service, Weiser Idaho 83672.. What do I need to do repossessions what steps do I take to get started?
  • Austin Pequignot said on February 21, 2012
    I'm form columbia city IN and i would like to start my own repo business how do i get started?
  • Geoff Haggons said on February 24, 2012
    A am looking to start a repo company in Cape Twon and would like to know what info you can pass on.
  • Kurt Bradbury said on March 19, 2012
    Looking to start a Repossession Business in upstate NY.
  • Wilson said on March 27, 2012
    I live in Indiana and want to start my own Asset Recovery Business. What I need to know is what the requirements are for the state of Indiana? Are there any certifications that need to be gotten before I can open my doors? Any information will be greatly appreciated.
  • Derek said on March 29, 2012
    I have my own recovery business. What it take is a unique individual who can handle a situation with a level head. I do not have applications for employment because I won't accept someone wanting to be a repo man. The industry finds you. Oh and one more thing....Have a big bank account. and willing to spend around $8000 per year for insurance.
  • Dino said on April 9, 2012
    would like more info on start up costs, and how to go about starting. NYC
  • JACK said on May 9, 2012
    If any one wants to buy a repo company or learn how to operate one just email me and I can help you out.
  • jonathan nieves said on May 27, 2012
    I live in New Jersey and would like to know the legal requirements to start a repo company?(permits, criminal history)
  • luis said on June 1, 2012
    i would like information on starting a tow/repo business in Pa, can you help me
  • Karl said on July 7, 2012
    Live in London, Ky. Laurel Co. I was considering starting a repo business but wanted to know what are the requirements for storing repossessed vehicles(lot size, fence, etc?) the legal requirements (licenses, legalities associated with reposing a vehicles, also laws about self protection while doing a repo?) Any other costs aside from the obvious?
  • John said on July 8, 2012
    Try too start a repo business in Elmira New York but don't know what legal things I need like being bonded.
  • angela cutshaw said on July 25, 2012
    i am wanting to check on repo business i have my own tow trucks i already have a towing company and truck repair with secured fence in area with security
  • Rajneesh Roshan said on September 5, 2012
    I WANT TO DO THIS BUSINESS IN PATNA BIHAR INDIA. PLS TELL ME HOW IT IS POSSIBLE ON MY E-MAIL ID ?
  • winston dillon jr said on September 6, 2012
    need help in kentucky to start a repo co have one truck and some money to start up if you can help call 606-259-7063
  • jay said on September 19, 2012
    Hi i am looking for a partner in the ri, mass ct area, i have the lic insurance location, etc, if u want more info send an email to me i will call you, must have good credit,or cash flow, you may also operate from a different state lets make money
  • Grady or timmy said on September 24, 2012
    my buddy and i live in daytona beach, fl we want to start a repo business. are question is how do we go about starting everything off i have a class a cdl but we need to find a truck and a small business loan?
  • Corey said on November 24, 2012
    There are quite a few people on here asking about how and where to get started in this business. If interested, you could retain my services as a consultant in this industry. With my knowledge and expertise, I could help you to make a comfortable living. Feel free to contact me to discuss details. Corey@reconrecoverysolutions.com
  • santa gloria said on February 6, 2013
    I have registered my company but at the moment its idle. This repo business sound lucrative. But the gap is what are the risks involved and the interest therein, in the case of a bank wanting to recover a loan from a person and would want to sell off his land, house etc. what other legal docs dose one need besides those of registering a company?
  • Luxury Auto Transport said on April 21, 2013
    We have a transportation company ,stationed in Detroit Mi and now we would like to get in the repo business . How do we go about getting licensed for our company ?
  • wayne kenny said on May 17, 2013
    hi i live in ireland how would i go about setting one up over here
  • tamil cell 9025383294 said on June 28, 2013
    sir i am start fire work business any north traters help me sir i am 5 year exp. my city sivakasi please help me help me
  • Tim beginner adviser said on August 13, 2013
    I have owned and operated a reposession company in Denver Colorado for 13 yrs and i'm going to answer some questions i have read on here.

    1. There is not any easy way to start a repo company these days and thats because of every rookie out there going out and doing what they think is a repossession when in all reality there stealing a car and causing drama and fights with the registered owner. Most new people in this field of work do it because of what they see on tv aka Operation Repo , Lizard Lick and all the other programs that are out there IF YOU TRY IT THERE WAY YOU WILL EITHER END UP IN A COFFIN OR IN JAIL REAL QUICK !!!!! Yes you have some drama out here but not even the amount that these tv shows try to make it out to be . They have given our industry a really bad reputation . To be quite honest with you i did not have to many problems until they did come out !!!! Remember all states have laws against breaching the peace and any good repossession agent will tell you they hate drama HELL most of us prefer not to even see the people were reposing because the police are not on our side we repo them too !!!!

    2. You have to have alot of money to even start up rough estimate 80,000.00 just to get going. My average fuel bill is 150.00 to 200.00 a day just to run 1 of my trucks and i have 4 of them. Insurance runs about 2000.00 a month and then there is the repossession bond through the attorney generals office you have to think about so you can see my point. If you think you can just get a truck and start repoeing THINK AGAIN !!!! It will cost you more money if your not insured and bonded and get caught up in a criminal case and could very well wind you up in prison !!! I will tell you Colorado changes repossession laws on a weekly basis and its all because of people coming into this field of work that dont have a clue of what there doing. I am constantly reading the laws and keeping up to date on them. It only takes breaking one of them for a judge to throw the book at you . This job is all a civil case for the person your repoeing from which means it can become criminal for the repo man very quick if he does his job wrong and then you can get sued on top of it all. I worry more about these issues than someone pulling a gun on me !!!

    3. Pretty much all repossession companies do more than just repo we do roadside assistance or impounds and private tows too . We have to just to make everything level out at the end of the month or we can loose our butts real quick . This is a real cut throat business and you will always have competition. In this line of work your reputation is everything so if you screw up it could cost you your business . If all of this does not change your mind email me with any questions at nochancerecovery@gmail.com and i will answer them as best that i can . I must warn you i am a straight shooter and i wont blow smoke up your butt i will only tell you like it is !!!

    nochancerecovery@gmail.com || Repo Business Expert

  • Angelica said on August 20, 2013
    We are located in Michigan and have worked can some one please tell me where a good ins company is in Michigan for repossession ins. we have all other docs and know the cost but we cant seem to find ins in our area.
  • Tj Bronson said on September 20, 2013
    The best way to START your own repo business is to go to work for someone that is established already and has the base clientele. You will learn allot from them that way or you will be eaten alive by them if you try to compete.. Remember this!
    When entering into the repossession business you have to realize that there are asset recovery companies already depending on the same banks and creditors that you are seeking to solicit. So beware of stepping on their toes so to speak, or you will piss them off! You could try to solicit business from them. Some of the already established known repo companies are overloaded with repossessions and may be inclined to sub out any surplus work to you... IF you are up and up and really want to make a good name for yourself. No good comes from trying to screw someone out of what they have worked hard to get..So be very careful when breaking into this business even though there is plenty of work in the repo field due to this unstable economy.

    The most costly thing is the repo business is INSURANCE!! YES THATS RIGHT! Just starting out you will be hard pressed to find a insurance under 10k a year.. and that's just for drive away only insurance.. Do your homework before jumping in and thinking you will be making allot of money your first time out.. It will take awhile before you get breaks on insurance until you show that you aren't a huge liability. Until you prove to the insurance companies that you are worthy of cut rates, you will be stuck paying high premiums.

    Oh and DO NOT try to run your repo business without insurance or you will be asking for HUGE trouble in doing so. Not only that..most banks etc wont let you touch their assets without having insurance.. Yes! The banks have insurance on vehicles but that doesn't cover you trashing it should get into an accident while hauling or driving it to the hold facility. Other than that? Good luck!
  • james fay said on February 25, 2014
    i would be very grateful if u could send me a e mail. mail o
  • james fay said on February 25, 2014
    i would be very grateful if u could send me an email. i am living in Ireland could. did u get the rep business if n o or ye did i still need to talk u get
  • salvador montaruli said on September 28, 2014
    We have a transportation company ,stationed in katy tx and now we would like to get in the repo business . How do we go about getting licensed for our company ? thanks..
  • Montminy said on October 16, 2014
    MAG ENTERPRISE INC. Would like to know how to get a start in the repo business. we are located in Brownington Vt. We have a towing & recovery business, We are looking to expand are services. we have three location, Brownington Vt, St Johnsbury,Vt & Lyndonville Vt. THANKS, PATRICIA.
  • samuel said on March 25, 2015
    I'm staying in evaton gauteng province south Africa. 1983
  • RICO said on April 30, 2015
    DERRY NH 03038 . i need info about my state and starting a repo biz
  • caleb said on June 14, 2015
    How would one go about acquiring the clientele as a recovery agent?
  • Stefani said on June 27, 2015
    Would anyone be interested in buying a small fairly well established repossession company out of Lawton, Oklahoma? We have been in business for almost 3 years our clientel is a combination of 10+ well known finance companies and forwarding companies. There is plenty of room for growth in this State. Just fishing for offers...if the price is right, we will consider. If you have no experience we can train you from A to Z.
  • William said on October 20, 2015
    I am a new repo company out of Elizabeth nj looking for work on reposesing tractor trailers been in business some time now but company that I'm working for is get slow give us a call at 908-372-8066 thank you we have the best prices in town.
  • James basso said on March 4, 2017
    Not many repossession companies in Houston have a few contacts trying to expand the business how would you suggest to do that
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