Op-Ed: The Life of a “Repo Man”

Welcome to the world of repossession, where every day is a high-stakes gamble for the recovery agent. Alone in a truck in some of the worst parts of a city; parts of the city where they never really sleep, and where danger lurks around every corner. Regardless, there exists a shared sentiment among repo agents, the feeling of invincibility, but sometimes, it takes a tragic event to jolt us out of our self-assuredness and into a collective awakening. One can only hope change is within our grasp for the recovery industry.

For too long, the lives of repo agents have remained misunderstood by the public, the client community, and underappreciated by society at large. I call it a form of disrespect. The initial belief in one’s invincibility, shared by many of my colleagues, is not a sign of arrogance but a testament to the unyielding determination that defines our profession. We are the unsung heroes for the finance world, taking on the challenges of our trade with unwavering resolve.

Yet, it was a tragic incident that I read about a couple of days ago that forced me to reevaluate the destiny of recovery agents across this nation. Another loss of a young man’s life while performing a repossession reminded me of the inherent risks and challenges, we have always faced. As I think of this young man starting his truck with no clue that tonight would be his last day on earth, I think of him hooking up a car with no clue that he would become another statistic of another life lost chasing a car………I think of his family wondering was it worth it?

The lives of those lost may very well be cared for by everyone who reads the article or listens to the story for a moment, until weeks later the story of a life lost merely becomes just another whisper in a profession where no one really cares. I am reminded of how much in common the life of a recovery agent is the to that of a police officer. But there are distinct differences.

Most agents do not have the benefit of a Kevlar vest as common attire for their survival in the war zones that they are often forced to operate in, nor a side arm for protection. Unlike law enforcement who drill endlessly on the skills, few agents have been provided the training necessary to provide them a fighting chance when danger presents itself in the field.

Perhaps worst, they do not have the support and respect of the financial community whose lives they put on the line every day in the duty of protecting their financial interests. Instead, they are looked upon as the bottom feeders, expendable characters providing a service that they feel that anyone can provide. That is, until they cannot.

Not just anyone can perform this job. Not just anyone can have a gun in their face and 4 hours later be at the next address searching for another defaulted auto loan. It takes a special kind of character and determination.

Our industry is a diverse network of men and women spanning from independent agents with a single truck to seasoned professionals with fleets of vehicles and teams of employees. Despite our differences, we all share common struggles. Danger is always in front of us, lawsuits usually find us first and financial instability plagues us as we wait for payments on past due invoices that force us to scramble to meet payroll. But these challenges, rather than dividing us, can be the catalyst for our strength.

We all have so much in common. From the smallest agency owner to the largest, our shared issues afford us the opportunity to unify behind our challenges. How? I’m glad you asked.

By seeking out and helping the smallest agencies amongst us who make up the lion’s share of the industry. These are the agencies most preyed upon. These are the forgotten ones forced to make life and death decisions for their companies every single day.

It is the smaller agents that we must speak for. The smaller agents that are losing their businesses through no fault of their own. It is the smaller agents that can bring a strength to our network lost decades ago that I am reminded of from the days when we controlled our day-to-day operations. A time when our internal fraternities could weather any storm and a time when we were respected for the service we provided.

It is with that passion that I call for our community to look at this problem together. We must form alliances and support one another. Our strength lies in our collective force.

We may not always agree, but we can agree on this; our agents are being killed in the line of duty. We can no longer sit by idly hoping for someone to throw us a lifeline. We must address and promote meaningful change to solve these problems that have long plagued our industry.

In this vision of the future, recovery agents no longer ask what others can do for us but Instead, we demand respect through our collective strength. We must no longer be the unsung heroes; we must all join together to be the recognized leaders of our industry.

We must demand respect from the banks and clients we serve. We must demand respect from the wider community of all associations and from society itself. We must demand the recognition we deserve. We must reshape the narrative surrounding our profession.

It is long overdue that we collectively embrace this transformation and stand unyielding in the face of adversity. Together, we can rewrite the story of recovery agents. We must position ourselves as a powerful and respected force in the financial industry. Our journey from solitude to solidarity can be a story of collective triumph against all odds.

I pray for all the lives lost in the field by those performing the act of recovering collateral for the lending community. I also pray for all the lives forever changed by injury incurred during the act of recovering or releasing a car. I pray for our agent network as we continue to evolve into a respected profession that is finally respected by us.

May GOD bless the boots on the ground and grant us his grace as we seek to change the corporate conversations of who we really are.

Warm regards,