They simply contact every bank, auto dealership and loan agency in their area to obtain the work. The fees charged compared to the amount of time it takes to perform the repossession is very high. A repossession can take anywhere from fifteen minutes to half an hour. However, the fees charged for such a service is between 150 to 250 dollars. Once a client uses your service once, he will use you again and again.
Some companies have as many as two or three dozen of such assignments to give out every month.
Often times, three or four clients can give you more work than you can do. In order for you to understand how this business works and how assignments are obtained, it is important to understand the hows and why of repo assignment to an independent agency. First, there are several different markets. When loans are past due they usually go to the bank collection department. The people who work in this department sit at desks and make telephone calls all day long to people who are past due with their car payments.