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Discussion Starter #1
I know a little about aviation but nothing about bank repossession. One thing is for certain, this new show I've been watching keeps me on the edge of my damn seat. Anyone else watch it?
Something I can't figure out, if the repo guys are providing a legal service then why do they have to "steal" the plane? Seems like they could tell the airport authority "hey, My name is so and so and I represent such and such bank. Here's the paper work, I'm here to take possession of the King Air."
 

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That would not make good tv. most state require it to be a "peaceful" repo. If the owner is asleep when you get his sh#t its usually peaceful. :wink: I used to help repo cars. It was fun and being young I did not understand or feel my life was in danger.
 

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If word got out that the airport authority was notified, & allowed the repo to happen, that would give them a real bad reputation, in the airline industry, & they would lose lots of business. Better the plane be taken w/o anybody's knowledge. Years ago I had a friend who was behind on the payments on his Corvette. He was at work, but the repo guys went to his gated community & told the guard they were there to repo the car, & even showed the proper paperwork. The guard told them to leave, as it was private property, & to look for the car when it was on the streets. Guess which guard got a nice Christmas bonus? GARY
 

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Different states have different rules on repoing...some you cannot repop off private property without consent...others you can as long as you don't open a gate or fence or garage door to gain access to the item. Touchy business anyway you work it..
 

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N4KVE said:
If word got out that the airport authority was notified, & allowed the repo to happen, that would give them a real bad reputation, in the airline industry, & they would lose lots of business.
Forgive me but I don't understand. I'm the airport authority and I allow professionals into the property to take over an item that some dead beat loser stopped paying for months ago and that hurts me how?
People doing business with me and entrusting me with their property, expecting that I won't allow riffraff in to run the place down, expecting that I keep up high standards of clientele and professionalism, and I allow paid people to reclaim what's basically stolen property hurts me how?
The airline industry has no use for dead beats so I would think they would applaud the act of recovering stolen property and returning it to it's rightful owner. And besides, the loser that stopped paying for his $2,000,000 toy months ago probably owes the airport, too. Hanger fees, fuel, maintenance, etc. It would benefit the whole place if the dead beat were gone.
Not sure I see how getting rid of a dead beat is hurting my business but keeping one on board is not. Seems to me my rep would suffer more if it were known that I had an air field full of losers and people of questionable integrity who like to live out of their means at the cost of someone else who's forced to eat the bill. Were I shopping for a place to hanger my YMF5 I would certainly avoid a place who's reputation says people there could not be trusted.
 

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Watching it right now. Its fake. :wink: You can tell with all the different camera angles and everyone is wearing a sound mic.

Being on a Tv set and one tv for a week ruins this kind of Tv for you. The guy taking the log book out of the back set. :bullshit: All the cars in the lot he knew what car the repo man was driving and he knew to look in the back seat.
 

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will36 said:
Watching it right now. Its fake. :wink: You can tell with all the different camera angles and everyone is wearing a sound mic.

Being on a TV set for a week ruins this kind of TV for you. Ill never do it again, The guy taking the log book out of the back set. :bullshit: All the cars in the lot he knew what car the repo man was driving and he knew to look in the back seat.
 

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A plane that is behind on the payments is a far cry from being STOLEN. Sorry you consider them the same thing. There was a similar show a few years ago where a plane "behind on the payments" was at a repair center getting work done. The repo guy approached the owner of the repair center, & explained the situation. He was cool about the repo, but told the repo guy that the repair bill was $10 thou & needed to be paid before he would release the plane. The repo guy called the bank, & they told him to pay the bill, & then grab the plane. He did, & he did. Either way a guy who is behind on payments is not a thief. He might be a dirtbag, or just be short of money, or just be having a bad month, but he doesn't go to jail. To me, repo men are lower than car salesman, & to me, helping them grab a car/plane tarnishes their reputation. While I don't have a loan for anything in my life, I would avoid a place who goes out of his way to help a repo guy grab a plane whose hanger fees, etc are up to date, but through a bank error, or some other paperwork screw up got a repo order. Just my opinion, & I respect that you have yours. Here in Florida, many buy here pay here car lots have a simple solution. An electronic device is attached to a car, & if the payments fall behind, the car won't run until the account is brought up to date. If a plane had such a device, & sensors showed it was on the ground, the engines would never start until the bill is paid. Repo men are scum, & anybody who helps them are too. Sorry if I insulted anybody here. GARY
 

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N4KVE said:
A plane that is behind on the payments is a far cry from being STOLEN. Sorry you consider them the same thing. There was a similar show a few years ago where a plane "behind on the payments" was at a repair center getting work done. The repo guy approached the owner of the repair center, & explained the situation. He was cool about the repo, but told the repo guy that the repair bill was $10 thou & needed to be paid before he would release the plane. The repo guy called the bank, & they told him to pay the bill, & then grab the plane. He did, & he did. Either way a guy who is behind on payments is not a thief. He might be a dirtbag, or just be short of money, or just be having a bad month, but he doesn't go to jail. To me, repo men are lower than car salesman, & to me, helping them grab a car/plane tarnishes their reputation. While I don't have a loan for anything in my life, I would avoid a place who goes out of his way to help a repo guy grab a plane whose hanger fees, etc are up to date, but through a bank error, or some other paperwork screw up got a repo order. Just my opinion, & I respect that you have yours. Here in Florida, many buy here pay here car lots have a simple solution. An electronic device is attached to a car, & if the payments fall behind, the car won't run until the account is brought up to date. If a plane had such a device, & sensors showed it was on the ground, the engines would never start until the bill is paid. Repo men are scum, & anybody who helps them are too. Sorry if I insulted anybody here. GARY

Their job is to return the banks property. Nothing about that makes them low or scum in my book. Can't control your spending / debt level...you don't get to keep it when you stop paying. Besides...an airplane is a luxury item for most who have them. I don't feel sorry in the slightest. All this show is is bad TV. How many pawn shops are like pawn stars? None...cause its fake as can be.
 

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I've always thought that people who don't pay their lawful debts are scumbags. Repo folks are just doing their jobs.
 

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N4KVE said:
If word got out that the airport authority was notified, & allowed the repo to happen, that would give them a real bad reputation, in the airline industry, & they would lose lots of business.
Utter nonsense, been a pilot and in the aviation business for over two decades.

The only people who would get a bad rep in such a situation are those that failed to meet their financial obligation and ignored the repeated attempts by the lenders to resolve the situation.
 

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will36 said:
Watching it right now. Its fake. You can tell with all the different camera angles and everyone is wearing a sound mic.
Watched bits of a couple of episodes, much of the aviation related stuff is incorrect or misstated, some of it as presented would violate regulations, and a lot of it pilots wouldn't say/do in the real world.
 

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You buy something on credit and cannot make the payments or come to terms for payment with the lender you put your big boy pants on, suck up your pride and voluntarly RETURN the item. That is the honerable thing to do....things don't get repoed for missing a payment here or there or "Having a Bad Month" ....Things get repoed after several months missed payments, lack of communication with the lender and unwillingness of the debtor to willingly return the car, truck, boat, plane or whatever.

Keeping a item you have not paid for is defacto "stealing" . It is not yours, it is collateral for monies received or paid to others on your behalf. Stop paying and you forfeit possession....what the hell about this is so difficult for people to understand ??

There is no real room for moral ambiguity here, a contract is drawn and signed to pay back an amount on certian terms and the item is put up as collateral to be surrendered upon default of the contract terms...calling somebody a scumbag for enforcing the terms of a contract signed and agreed to is just plain ridiculous.

If anyone has problems understanding this simple principle they need to stop and do a re-evaluation of their value system and do a serious readjustment of their ethical compass IMHO.
 

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My feelings are based on a friend who was behind in his payments, & had his truck repo'd. I'm actually good with that, but he was a mechanic & the repo company kept his tools which were in the truck, & would not return them. The repo company felt the tools were their tip, as they were paid for, & there was no order to seize the tools. They denied there were tools in the truck. That's theft.
 

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N4KVE said:
My feelings are based on a friend who was behind in his payments, & had his truck repo'd. I'm actually good with that, but he was a mechanic & the repo company kept his tools which were in the truck, & would not return them. The repo company felt the tools were their tip, as they were paid for, & there was no order to seize the tools. They denied there were tools in the truck. That's theft.
A) So one anecdote defines all of them? (as well as those who 'help')
B) Who stopped him from reporting the supposed 'theft' to the police and suing them in civil court?
C) If he was so concerned about his tools, he shouldnt have left them in a truck he knew was sought for repossession.
D) And lastly, knowing that he was in arrears (likely many months behind), having made no arrangements with the lender, and ignoring their repeated requests to pay for (or return) the truck, he was depreciating their asset for his benefit and thus committing fraud.

Your 'friend' should have fulfilled the obligation/contract he himself sought out.
If unable to do so he should have put on his big boy pants and returned their asset.
 

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He did report the theft of the tools, but the cops did nothing since the repo people legally grabbed the truck. They said it wasn't like someone broke into the truck to steal the tools. By the way, I have never borrowed money, or taken a loan to get anything in my life. If I see something I want, I save up until I can buy it. I only got a Visa card last year just for on line purchases. I go to the bank the next day to pay the bill even though I haven't gotten the bill yet. I hate owing money, so I don't owe a dime to anybody. Most people I know are maxed out on their plastic, but I refuse to live like that. GARY
 

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I watched my neighbors son next door spend much time going to extreme lengths to keep his truck from being repo'd. He'd wedge it sideways at the back of his grandma's driveway. Chain it up, etc. He thought himself quite clever. Watching him all these years, he is just another inbred douche nozzle to me. I found myself rooting for the repo guys.
Had he worked half as hard at a job, he could have paid it off. :grin:
 

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My step-uncle did all kinds of property repo for probably close to 20+ years. Never once in the many 100's of stories he had to tell of anybody not deserving it. As he put it, he was hired for a job and any of the details right or wrong, were between the debtor and the bank.
 

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N4KVE said:
He did report the theft of the tools, but the cops did nothing since the repo people legally grabbed the truck.
LEOs can't do anything other than take the report as it would be a civil matter.
If the story your 'friend' is telling were true, he would have had to replace the tools of his trade, been able to provide receipts for the replacements, and would have likely received a judgement from most any court he brought it before. This story your 'friend' is telling you, the one you are labeling an entire industry over (as well as those who help), does not pass the 'smell test'.....that or he is an utter and complete moron.
 
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