The American Repossessor

HIGH POINT — Dan Bryant’s business has improved during the recession, but there are moments he wishes that wasn’t the case.

Dan Bryant stands next to vehicles that have been repossessed at Bryant’s Repo of Thomasville.

Bryant operates his small enterprise, Bryant’s Repo of Thomasville, as part of a web of repossession specialists who retrieve vehicles and other personal property when people fall too far behind on payments.

He typically works for financial companies or other outlets, such as independent car dealers, that have a contractual agreement with a customer to make set payments to maintain possession of a piece of property. Through September, Bryant’s Repo recorded a 21 percent increase from the same period in 2008.

How Bryant reacts to a repossession, commonly involving a car, relates to the circumstances of the owner.

“It bothers me when families are trying to make it, and you have to take their form of transportation. But others give untruths on their application and put down a down payment and then have no intention of paying,” he said.

Repossessions can take unusual twists, Bryant said.

“You run across some people that may buy a car for their daughter. And when mom and dad get in a lot of financial strain, it’s hard to tell your daughter in college that you have to take her car back. So they just won’t tell you where the car is at,” said Bryant, who’s been in the repossession business six years.

Often Bryant will work late at night or early in the morning, repossessing a vehicle while someone is asleep, to avoid a confrontation, he said.

“The risk is getting more dangerous. People are under a lot of pressure, and sometimes they are aggressive when you are taking their car,” Bryant said.

Last Wednesday, Bryant said he had a knife pulled on him by a woman as he arrived to repossess her vehicle. He said he was able to diffuse the situation without it leading to an arrest.

Contrary to common assumptions, repossessions nationally haven’t been on a straight-line increase since the recession’s onset, said Art Blanchette, a businessman from Indianapolis and immediate past president of the American Recovery Association trade group.

As a recession continues and people become more frugal, they purchase fewer big-ticket items and borrow less money, he said, so the number of repossessions can decline.

“The banks also are more apt to let people go longer on delinquencies,” Blanchette said.

As a recession wanes, and more lending and consumer buying takes place, repossessions actually can increase because more people are taking out loans for vehicles, Blanchette said.

Bryant said the most common repossessions he handles involve large vehicles, such as the Escalade, Expedition, Excursion and Yukon. But other repossessions on the upswing include all-terrain vehicles and even riding lawn mowers, he said.

“It’s simply a reflection of the economy – people don’t have the means to generate the income or revenue that they were used to five years ago,” he said.