Repossession jobs include auto, boat, equipment, aircraft, and property salvage. Repossession agents are hired by lenders to repossess property due to non-payment. Specialized skills may be required for certain repossession jobs, such as piloting aircraft or handling heavy machinery. Real estate repossession requires skilled professionals with expertise in repossessing property due to delinquent mortgage loans.
Among the different types of salvage jobs are auto salvage, boat salvage, equipment salvage, aircraft salvage, and property salvage. Repossession jobs can be performed independently or while working with an established repossession business. Banks and other lenders hire repossession agents whenever there is a need to repossess property due to non-payment of a loan or lease.
At the same time, the title given to individuals working in repossession jobs was repossession man. Repossession agent, however, is a more appropriate term to describe women and men who work in the repossession business. Most jurisdictions do not require a repossession agent to undergo any specialized training, although certain repossession jobs do require specialized skill or specific knowledge to safely remove certain items without damaging equipment or surrounding property.
Auto repossession is probably the most common type of repossession. In these jobs, a repossession agent is expected to work late nights and have experience locating and removing an automobile. Most professional recovery agents are skilled at recovering a vehicle without an owner being aware that it is being taken.
Other repossession jobs, such as the seizure of aircraft and boats, require a repossession agent to be licensed and experienced in piloting these vehicles. Like automobile repossession, an agent working one of these repossession jobs will be tasked with locating and removing a vehicle. Unlike automobile repossession, however, a reporting man or woman must know how to search records such as fuel records, docking records, and even aviation records to locate a plane. Often, a repossession agent takes a qualified mechanic to ensure the vehicle is in operating condition before legally stealing it for the lender or lien holder. Once the vehicle is located, a recovery agent must know how to properly remove it and safely deliver it to a predetermined location.
Repossession of equipment may also require special equipment removal skills. This is particularly true with heavy machinery such as magnetic resonance imaging (MRI) equipment and other equipment that employs radiation technology. Unlike auto, boat or aircraft recovery work, these recoveries generally occur during business hours and with the knowledge of the owner.
In cases where real estate has been foreclosed, in some jurisdictions, a repurchase agent is employed by creditors to take possession of the property. To do this, a repo agent must be able to explain the legalities of repossession, as well as handle irate homeowners. These types of repossession jobs require skilled real estate professionals with special expertise in the areas of repossessing property on behalf of a lender due to delinquent mortgage loans.
Protect your devices with Threat Protection by NordVPN
