Originally I researched all the local repo companies in my area. There were several and not one was within 40 miles. The prices for pick-up, storage and selling the car, even though fair, would have outweighed the value of the car. I got a referral from a local car dealer for a towing company here in town. The owner was so impressed with the program he was eager to offer me all the help he could. He agreed to pick up the cars for a flat fee of $50 and store them for no charge until they were redeemed or put up for sale. He also agreed to sell the cars for me if we needed to and did not want any fee from this. I must say I was truly amazed that I had located such a person. He just wants to help the borrower keep their car if possible.
I have not had to use his services as of yet but I have come close a couple of times. If I do need to go that route, and the borrower does not reclaim the car and pay the loan it will be reported on the credit report negatively. I know this towing company is one in a million but it may not be a bad idea to see if you can sell the program to someone in your area that can be a partner with you. At any rate it has to be cheaper to use a local business than the prices the big time repo companies charge. Carolyn in Danbury
