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FIB - Scams 101 - Ye Olde Archives
Posted By: pete In Response To: Has anyone every worked as a "repoman"? (BizNewbie)
Friday, 24 June 2005, at 7:28 p.m.
During the last half of the 90's I sold GPS based vehicle tracking systems to tow truck and repo company owners, so I can tell you a bit about it.
The reason they bought my systems was to keep their drivers honest. It was not uncommon for a guy with the repo man's tow truck to do some side work for a competitor, using the boss's truck.
And you could almost bet that anytime a tow truck driver does a jump start or something like that that the dispatcher did not assign the cash goes in the pocket.
Actually, repo is about relationships. You've got to know and have the trust of the guys at the banks and finance companies you are dealing with.
And the business varies greatly from state to state. In some it is regulated and the drivers are backed up by local law if necessary. In others the law looks at them as just more crooks.
So, no easy answers.
Like any industry, if you are interested, get a job working in it and get to know the language.
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