Scrooging; Christmas repossessions

Scrooging; yes it’s a word, I just wrote it! Before the pandemic and the repossession moratoriums, the tradition of repossessing on Christmas was one that was met with mixed opinions. But much has changed since COVID, which begs the questions; will your or your agents be out running accounts on Christmas this year?

Obviously, to the public this was perceived as a “low” tactic. For the lender, the optics of public perception were often seen as not worth it and many lenders place their assignments on hold for the day or entire holiday season.

For repossession agency owners and field agents, the opportunity to catch hard to find skips at the homes of family and friends with cars loaded with Christmas gifts was often seen as a bonus day. For the agent, backing into a car at a house full of family and friends is an action fraught with risks, perhaps not worth taking.