The American Repossessor

Well, if the world didn’t know how unprofessional the repossession industry can be, they certainly will get a lovely insight into it by the article that appears in the 15-21 November 2008 issue of the global business magazine the ‘Economist’ which is read in all continents of the world.  And what a dandy story that one is.  What a shame that the chance of having an opportunity to have some positive exposure in such a world renowned quality business magazine has been lost with the behavior that unfortunately typifies our industry.

I have been an avid reader of the Economist for many years and love it for the diversity of its content that really does stretch from continent to continent.

Upon reading the article titled “Snowbirds, meet the repo men”, (see attached article), which is predominantly about a repossession company called Gulf Coast Recovery in Cape Coral, Florida. I was dismayed at the message it presented to those that really don’t have any idea about us at all and to those that do, particularly many of our corporate clients.

If you  just take the  word ‘repo’, which has always posed a problem for me as it has unprofessional connotations associated to that word.  The word is repossession and needless to say, that is listed in the Thesaurus and not the shortened version!

I know that there are many of you out there that will not like what is written within the Economist article as I know many strive daily to ensure and maintain their professionalism and quality services to their clients .  Like it or not, we are all ‘tarred by the same brush’, no matter how professional we are, no matter how qualitative our services are.

Just those words…..”beefy….heavily tattooed” ….. are enough to bring to mind an image that not many of us want to see!

Quite frankly  I don’t care how big you are or how many tattoos you have, but when you are working you need to cover them up and when you are in your own time, who cares what you wear!  Come on company owners where is YOUR pride?  It is YOU who are at fault for allowing  your people to dress as they do and represent you.  The field agent is often the only point of physical contact that debtors, neighbors or even employers (POEs).  In fact, they  not only represent your company but they represent our clients – not exactly the professional image they had in mind.  A dress code is vital to ensure that your company is represented as it should be …and no I am not talking about suits and ties….I am talking about the basics of dress.

A professional image is necessary.

The description is bad enough, but what is wrong with these people that think it is fun to  repossess someone’s possessions (even though they really belong to the financial institutions) and make fun of that?  Where is their integrity?  Where is their compassion and understanding of leaving a fellow human being  with their dignity intact?  They should remember that…..’there by the grace of God go I!!!’   Perhaps the sun has shriveled up their brains.

And if that is not bad enough, now we an idiot field agent admitting that he ‘loves angry people’ and uses brass knuckles which are ‘very effective’.  What a sad state of affairs – I mean what company owner is comfortable with this kind of prehistoric Neanderthal representing their company? 

Oh it only gets better – NOT!  Now we have another selfish excuse for a human being that ‘ prays for a hurricane’ so that he can profit from many other peoples misery and even loss of life.  He should be put out of business!

What kind of people are these that have no consideration for others as long as they profit from other’s misfortune over and above the norm.  Of course we need our industry BUT there is a way to do business and a way not to do business.  Obviously these people have no idea what business ethics are.  I would never wish misfortune on anyone…but in this case, perhaps a dose of their own medicine just might curb their thirst for the misfortune of others!

We need ‘brains not brawn’ and the proof of that are the many repossession companies that do employ those that are contrary to those described within the Economist article.

When I look to recruit field agents, I don’t look for repossession experience.  Instead I want people that can communicate – verbally that is, have computer skills, able to organize and manage their time – we can train them to repossess OUR way and if they don’t like that, then they need to close the door on their way out!

YOU company owners are in charge of your own destiny, so stop putting your future in the hands of those  that have more brawn than brains!  Surround yourself with those that enhance your company, that will help you to change and move forward in a positive and profitable way.  But just make sure that it is not at the cost of the debtor’s dignity or YOUR integrity!

And here is the ‘cherry on the cake!’  It would seem that a hurricane is prayed for by some people that have absolutely no consideration or thought of others but themselves!  Well Mr Lento, I can only hope that you are granted your own private hurricane that whisks you and your truck away to the Land of Oz and perhaps you and the munchkins will live happily ever after.  Poor munchkins!

That is quite a sobering note to end the year upon, but it is reality.  I hope that as we continue to strive for a professional industry, that the ‘bad apples’ will fall, leaving those that really do believe in the future of a much loved profession.

2009 is just around the corner and in between we have a time of celebration that usually brings hope, understanding and thought.

Wishing you a Merry Christmas…