What Does a Repossession Agent Do?
A repossession agent retrieves property that has not been paid for according to the terms agreed upon by the buyer and seller. He is typically involved in recovering large ticket items such as automobiles, recreational vehicles, trucks and boats. He may work for a repossession company, bank, financing organization, lending institution or credit card company. A considerable number of repossession agents are independent contractors as well. Repossessing personal property from individuals is frequently a difficult task. A repossession agent may be required to approach the person who has defaulted on the purchase agreement to inform him or her of his intentions. In some cases, the lender notifies the buyer of the proposed action, and the agent is only responsible for physically retrieving the property. The agent may be required to seize property from a private residence or commercial location.
