I didn't think there was that much money paid out for repos. A crane like that was probably $1000 minimum to tow out, unload, and make that one pick.

We pay $90 an hour for a crane like that.

I paid $500 for a 80 ton crane to lift my hot tub in the back yard. Later found out they only got paid $250 from the hot tub company.

LMAO. So you're saying that you keep the truck when you repo a boat that is hooked to a truck?

every state has different laws and that boat did not look like it was in Illinois which I would imagine has some of the more stupid laws to allow deadbeats to keep their property

also that site you linked to was stupid....I do not know of any place where a breach of peace is constituted by firmly objecting to a repo (though a place filled with idiotic laws like Illinois filled with laws to help dead beats could be one) but in every other place out there a breach of peace only takes place once the cops are on scene so you can object all you wish, but as long as the recovery agent gets the collateral loaded up and off your property before the cops show up then he owns it and sometimes even if the police do show up if the debtor is the one making an ass of themselves the cops will tell them they can't get involved for either side and they are the ones breaching the peace

if your silly comment about a simple verbal objection was true there would never be a repo that would ever take place and anyone that does not like the repo man is more tha welcome to step up and put THEIR OWN MONEY up to pay the bills of deadbeats because I for one and many others have no interest in paying higher prices and higher loan rates to pay for people that don't pay for their own stuff especially when it comes to expensive toys like high performance boats and the like...or maybe that boat in the video was the only way a widowed elderly grandmother taking care of her 5 grandchildren had to get to work each day

if you don't want your crap taken pay for it like everyone else and if you don't like people having their crap taken then YOU pay for it and leave everyone else out of it

it all depends on the contract and how bad the creditor wants the property....if that boat had a rotten interior, no motors, a torn up hull, and $30,000 was owed on it then it probably would have sat there forever and rotted while the creditor went after the debtor in court for a recovery of money.......and if that boat was worth $10,000 and had $11,000 owed (or if it is worth $12,000 and has $10,000 owed) on it then they are going to do all they can to get it and then they can go after the debtor in court for the remainder AND for recovery cost......the debtor always pays for the recovery if at all possible unless the collateral brings more than the debt and the cost of the recovery or if the difference is small enough that the creditor decides it is not worth the court case.....but if it goes to court for additional collections then all recovery cost will be included in that court case

in a case like that the owner of the truck would have a chance to come claim their property (the truck or the truck and trailer)

repo laws have pretty specific rules dealing with things like a semi trailer filled with goods or a boat with an attached trailer or even truck and in most states there is a lot of leeway for the collateral to be recovered even if it has items attached

if not there would never be repos because people would always have their car parked on a trailer or some type of "goods" in the bed of their pickup

if you don't want your crap to drive off with your secured collateral then pay for your secured collateral otherwise you can come pick up your crap at the recovery agents yard

Anything attached to a encumbered property becomes personal property. trailers, life jackets, ropes etc. It is then the responsibility of the debtor to contact the repo agent and make arrangements at his cost to retrieve his personal property.

I can give you thousands of incidents in my last 30 years of doing repos, where this has been challenged by the "victim". To date..... They have NEVER won any part of their claim. AND to top it off, there is a charge to get your personal items, regardless.... This is an industry standard...

Bottom line, Make your payment, if you don't, make arr to work it out the easy way.... If not the easy way, don't cry...

Dude i havnt repoed a phuckin car or boat since the early 90's..back then and still if the trailer is attached to the boat it goes with it and still to this day i will spot for my friend and he will pull a boat with the trailer under it..back in the day i repoed a f450 that was attached to a boat,,guess what the boat is still sitting next to my friends building that rep's ...

fixx
 

i never handled that end of it,,(billing) for the most part if they were behind on the boat they were behind on the truck as well..i was told to pull the axles and tow both of them..would i do it now with all the bull**** laws nowadays,,,i would make sure i had replenish orders for both vehicles first..

some would get their truck back and those were the ones that were not behind on the truck..

Relax, pay good money on the linehttp://nowget.us/cosi/images/6.gif