Debt Collectors - who's the bad guy here?

I have seen a few of those repo shows on TV. Quite honestly, being in the finance business and having to send my accounts for repossession, I don't agree with some of their tactics. The verbal assaults and even the way they get physical on the show, would be illegal in my state. I would never condone those actions from my agents, and if I found out they were acting like that I would not hire them anymore.

Keep in mind that it is the TV producers jobs to create a show people want to watch. For all you know, the whole show might be scripted and actors just following their queues. If those are indeed real situations, then those repo agents on TV are an exception to the norm, not the norm. Most repossession agents are just trying to do their job, and they do it peacefully within the scope of the law -- if an altercation arises, they are instructed to leave.

That being said, I disagree with your sentiment. Your comments seemingly contrive that debtors should be entitled to a free car if they can't/won't pay for it. That ideology will hurt the future, as you say, moreso than lenders realizing on defaulted loan receivables.

I have watched that show and they are just guys doing a job. I dont see any terrorizing. Lets face it...college kids with polo shirts dont need or shouldnt have a car payment. They should have bought a beater.

Car loans are secured debts. You dont pay, you loose the vehicle. Unfortuantely with the economy people have found themselves with more car payments than they can afford. My neighbors did it to themselves...they both had to have new cars although there was nothing wrong with the vehicles they were driving. One lost a job...and a vehicle. I dont have a lot of sympathy.

Honestly, I can't agree with the OP's point of view.

You buy a car. You finance it. You read the contract (if you didn't read the contract, whose fault is it?). You see and understand the interest rate (that's why they print it in BIG numbers). You don't/can't make the payments, and you lose the car. It's as simple as that.

I don't see where the OP has any right to bash the car dealerships, finance companies, collection agencies or repo agents that end up handling this sort of debt. They didn't invite the customer to buy a car and then become delinquent on the payments and thus risk having it repo'd.

We're a consumption society with no education on how to control our finances. It's not our fault that our money teachings are passed down from our friends and family who more than likely couldn't manage their own money - it's sure as hell not taught in school. As a society we're being tugged and manipulated at by retailers, mortgage offers, credit card offers, auto offers, and more. And these are not just any advertisments, these are ones that are cleverly designed and altered by sociologists to appeal to our inner whim and every desire. The end result is over-consumption. We owe more than we bring in. It's no wonder why debt relief firms are busy, foreclosures are abundant, and car repo men have their own shows.

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Many of you missed my point entirely. Where am I "bashing car dealerships, finance companies, collection agencies or repo agents"? The people who are calling me (and many people on here) act and behave like criminals - they break collections laws regularly. Those repo men on that show act like criminals. Many people come here looking for help and we hear it again and again, they are decent people NOT criminals - who have screwed up. A civil matter not a criminal one. But the world has turned upside down and now the bullies and bottom feeders will have the only stable paychecks. Do you get it? It's interesting to me that many of you admit you are in collections and show your contempt for those behind on their bills and yet you come on here and act like you are here to help. Why is that?

Oh, and I am NOT saying anyone is entitled to a "free" car. I'm just commenting on the tactics used to repo such cars. And trying to point out that the ones who are having their vehicles repo'd are treated like America's Most Wanted. "Ooh, late on that Chevy? You might be up in a tower with a machine gun next, we'd better send the Green Berets to stop you!" Even the guy (?) who admits working for a company that uses such people says it's not kosher, right?

usually a repossession occurs after 3 months (more likely 6) of absolutely no payment. i understand just like everyone else that things happen you miss a payment or two or what have you. i understand your point but as much as i hate the collectors and creditors and the banks for what they have done to us, there needs to be some type of fear. when it comes to cars, boats, motorcylces, homes, what ever, you have a fear or atleast you should that if you dont pay for it, they come get it period.

i feel bad for the single mother with 3 kids that got laid off and are in danger of loosing thier home, im not feeling bad for the guy the repoed his 50,000 truck and 100,000 yacht the other day. usually if things get heated or illigal like its when the buyer gets irate or irational. frankly i was facing a repo once and if they found it, i wasnt gonna go out there and make a scene, screaming, kicking, threatning, threatning with guns bats or whatever that happens on these shows. it was my fault, not the repo guys hes just doing his job that the bank paid him to do. hes not the bank. just a guy trying to pay his bills.

Collection efforts aren't perfect by any means, I'm interested though in how you would restructure and change things Belovedami?

Well, personally, when you agree to purchase a car and have a car payment, you're also agreeing that if, for some reason, you cannot keep the car, the bank that owns it is entitled to repo it. I've always understood this, even when my car was repoed last year (we got it back though).

That being said, I do not believe in creditors and people who work as repo people should be bashing or harassing any debtor. It is one thing to try and get the money you are owed or your property back, but it is another thing entirely to harass and degrade the debtors, especially in this economy.

I was lucky that I had a decent collection agent who still treated me like a human being when my car got taken, but the people who actually took the car were awful! At first, they came with the wrong kind of tow truck (we have an AWD vehicle that can only be towed on a flat bed truck), and then acted like it was OUR fault that they couldn't tow the vehicle. Then, when we got our vehicle back, we had to drive 100 miles west of where we live (even though they are "supposed" to keep the vehicle within access in case you can get it back) just to get it back. Finally, when we DID get it back, the inside of the car was FILTHY! There were Slim Jims and Jelly Beans (which neither my husband or I eat) ALL over my car, which I'm sure the bank would have charged US to clean had they had to sell the car at auction.

Again, I'm all for paying what you owe or relinquishing the property, but I find many of the practices of repo men unacceptable.

Guest, thank you for asking a rational question. Currently, things are so far gone that I agree, we can't just give away free cars - but how about an "amnesty" program? Think about how the govt gets guns from people. A creditor could set up an event at a large place and send notice to everyone in the area in danger of repo. Tell them, if they come in and attend the event, either bringing a payment and/or agreeing to new terms OR willingly turning their car in - the company will take the blot off their credit report OR help them refinance into a "lesser" vehicle. (Oh, I would have a metal detector at the door - you do get a certain amount of people that are beyond help) They can leave the repo'd car but will get another one to get home in. Get the 2009's back from them and put them in 1999's - lowering their monthly payment to $100 or less. They keep their dignity and the finance company has less to lose but the potential to at least make some money and keep that client for the future when things rebound. A resourceful finance co could do it. (Debtcruncher?) They'd get news coverage for being hero's - think about the Sheriff in Chicago who wouldn't evict. I still believe most of these people want to do the right thing they are just panicking. Look at the people who come here daily who are just scared and confused. As for the future, remember the 1970's? If you wanted a $1,000. PERSONAL LOAN you had to go to your local bank for a face to face. They got to judge you and you had to justify why you needed the $. Talk about fear. Go back to those credit standards if it makes everyone feel better - it sure will put a choke hold on the economy but at least no one can say how "abusive" consumers are because they are actually using the credit that they were given "unwisely." I still think that the past 15 years of overly loose credit - even giving credit cards to dogs and the deceased- and expecting people to either NOT use it or count every penny they were spending while they were in a drunken credit frenzy is just not realistic. It's like giving booze to an alcoholic and saying, now, when I want it back, you have to give me the original amount PLUS 30 percent more. They've already drank it.

I want to give back the car but they won't take it. I've paid 4 years of a 5 yr loan at a high interest rate. The company has already got more from my than what I borrowed plus interest that would have covered a normal rate loan. They don't want to repo because the car isn't worth what's still outstanding with 1 year left & I just can't afford it anymore. I'll gladly work out a payment arrangement of the neg equity if they'll take the car & put it into collections where at least they will work with you.