Repo Companies Are Raising Prices - Wonder Why?

Ever wonder what the best type of business to run in a recession is? Some people say it is the repo business, where you go out & repossess people's cars, equipment, aircraft, boats, & business items which we had purchased, but reneged on their payment obligations. Interestingly , there is a lot of business to be had during recessionary times, & there's never to repo companies to go get all the stuff back from deadbeats which have not paid.

Due to the supply & demand issue lots of repossession companies are now raising their prices. There's also new rules to protect consumers from companies & banks that lend to consumers, making it more difficult to repossess things, & more notification that is necessary. That also means more paperwork. That paperwork also translates to more regulations & paperwork for the repo companies, who must pass on the extra time spent to fill out a bunch of forms on to the banks that hire them.

All the low hanging fruit has already been repossessed, & now we have to go after deadbeats who are very lovely at hiding the things that we are unwilling to pay for, or can no longer afford to do so. This means repossession companies have to work one time as hard to track down the individuals, & risk a small more when we finally do catch the folks & try to take back whatever it is we didn't pay for. consider all this.

There's also more claims to insurance companies when repo companies make mistakes, therefore, insurance companies are charging higher premiums, & the repo companies have to carry those costs onto their clients; the banks that hire them. Finally, repo companies are raising their prices because consumers that have not paid are getting better at hiding stuff.

Note: All of Lance Winslow's articles are written by him, not by Automated Application, any Computer Program, or Artificially Clever Application. None of his articles are outsourced, PLR Content or written by ghost writers. Lance Winslow believes those who use these strategies lack integrity & mislead the reader. Indeed, those who use such cheating tools, crutches, & tricks of the trade may even be breaking the law by misleading the consumer & misrepresenting themselves in online marketing, which he finds unacceptable.

Lance Winslow is a retired Founder of a Nationwide Franchise Chain, & now runs the Online Think Tank. Lance Winslow believes that if your automobile gets repo'ed you require to call your bank using your cell phone; T-Mobile Wireless

By Lance Winslow