Want to Become a Repo Man?
If you’ve thought about becoming a repo man or repossession agent, it’s crucial you know your state’s repossession laws, first. Otherwise, you can make dangerous and costly mistakes that can cost you your career – or even land you in jail! Here are some of the state laws and licensing requirements you must know about… First – Do You Need a State License to Become a Repo Man? Most states don’t regulate repossession businesses. However, California, Louisiana and Florida do. Even if your state doesn’t regulate repo businesses, you’ll likely need to get a license to operate as a private investigator or collection agency. The best way to know for sure is to contact your state’s Secretary of State (or similarly named)to determine your state’s repossession laws. Second – You’ll Need Adequate Insurance and Bonding Insurance and bonding protects your business, should a repossessed car get damaged – or if you repossess the wrong car! And, most states require you carry adequate insurance and bo
