It is a matter of humiliation, rage, melancholy, and most importantly, despondency. However, there are proper and improper ways to interact with repo personnel. The cases shown on television are the most extreme (or the most fabricated). Seven out of ten repossessions are actually concluded in a civil manner.
Best practice dictates that you peruse your mortgage contract and comprehend what your lender can and cannot do if you default on your payments. This can assist you in preparing for the worst-case scenario.
Therefore, what should you do when the repo men call on your door? First and foremost, you must be civil and courteous, even if your emotions are seething. Being a repo man is difficult, and these individuals are assaulted on the worst days of their lives. The bare minimum would be to interact with them professionally.
You should first anticipate being shown documentation regarding their actions. In an ideal situation, the foreclosure men will be courteous and will state their intentions and provide documentation without being asked. You have the right, for reasons of personal safety, to request documentation supporting their actions as authorized by your lender. If they cannot provide these documents, you have the authority to deny them entry.
You should avoid being antagonistic towards the repo workers. A certain amount of animosity is to be expected, but you should never threaten or physically assault the repo men. In addition to worsening your position in the creditor-debtor relationship, you expose yourself to assault and battery charges. Being accused with a crime will not benefit you, so maintain control.
You should also avoid causing property damage as a form of retaliation against the repossession. Not only is it impolite and unethical, but it can also lead to further issues with your creditor. In accordance with the provisions of a mortgage, the lender is technically the owner of the property. The lender could file property damage charges or affix damage fees to an already severe case.
Once you have determined that the foreclosure men are legitimate and are conducting authorized business, it is in your best interest to allow them to perform their duties. Protect your tiny valuables and personal documents while avoiding their path.
Occasionally, the foreclosure men will request payments as an alternative to immediate action. This must be approved by the lending institution and will include arrears and fees. Do not attempt to pay them to leave you alone for a short time. Hopefully, the repo men will arrive during your lender's business hours so you can affirm authorization for this action by calling them. If you give them money to pay off your debt, you must inform your lender immediately.
Always, the best method to deal with repossession agents is to avoid them entirely. Therefore, you won't have to stress about what to do when the repo men arrive, you should reduce your expenditures and put any extra money toward your debts.
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