I saw part of a TV program the other day about repossessors. One man could make a key within about 1.5 minutes. Showed several repossessions of big equipment at night and in a hurry before they were discovered.
Apparently they had to find the equipment in order to repossess. Was it probable the equipment was hard to find because notice was given, or because they just did not intend to pay ?
Its both. I do this kind of work. The debtor makes the property hard to find BECAUSE they don't intend to pay. Usually the advance notice is in writing and directs the debtor to pay what is due by a date certain or face repossession.
It is very rare that the repossessors do not make sure the proper notices were sent out first. Otherwise, they themselves can be held liable.
I do a ton a collection work for tool rental companies. When someone does not return the equipment and does not pay for the rental, is it stealing????? The police say go to civil court, which is a waste of time. Credit and collections is a very difficult field when industry standard dictates 30 day terms etc etc.
I do mostly commercial collections, since I don't like chasing individuals for credit card bills and medical bills. Commercial collections is a whole other ball game. Very often, these dirt bag deadbeats are bad business people and feel that it is perfectly ok to make their profit on a job by screwing those below them than eating their own mistakes. I have zero sympathy in most cases for idiots who feel because they can swing a hammer they can be a legitimate businessperson. Some of my clients do not learn their lesson by not extending credit to certain people. I will not say certain things for fear of name calling, but I tell my clients to use their gut before giving credit. You know what that means right????