Towing Issues: Your Repo book, fly by night, repossession industry


Question
How up to date is the book you wrote about the repossession industry? I am a highly motivated person with the right basic skill set to start a repo business, however Ive never worked a day in this field. It has attracted me as a way of life for several years and I think now is as good a time as any to jump in the deep end. Ive read that for a city of roughly 450,000 people there would be on average 4,500 repos a year. Im planning on starting slow and small, with myself being the only employee for an undetermined amount of time. What type of business do you feel is the best place to get 2 or 3 cars a week? Bank, finance company, local car dealership etc....

Answer
My book was published in 1997. Nothing has changed with the exception of a few laws that we have started using to actually pursue criminal charges against debtors who refuse to surrender the collateral. The only other thing that has changed is that most vehicles now require a wheel lift to tow them except AWD and 4WD which require a rollback or dollies.
The book got a few harsh reviews, but several good ones. I wa not even aware of the reviews until several years after the book was published. The format that I gave the publisher contained color pictures etc, but the publisher decided to reproduce black and white photos. There is a lot of information in the book about skip-tracing and tips and tricks that many people said I should not have given away. The purpose of the book however was to educate the people in the industry and stop as many "fly by night" repo guys from running around giving us a bad name.
I am now the president of APIA (in Alabama) and I am still working on training and education of repossession agents. I am in the process of trying to get a second edition finished but who knows when I will get that done. We have several members in APIA that are outside the state and network with us.
The best place to start would probably be a local car lot that finances their own vehicles and work your way up from there.
Write back if you have any more questions