Repoer

Repoer is a term used to describe a person or firm that performs repossession of collateral on behalf of a lender when a borrower defaults on a secured loan. The term is informal and not standardized; in industry practice the person is usually called a repossessor or recovery agent.

Role and operations: A repoer locates and takes possession of collateral, most commonly motor vehicles, but may also recover other assets such as equipment or inventory. Repossession is typically conducted under contract with the lender and must comply with applicable law. Techniques include skip tracing to locate the asset, coordinating with impound lots or service providers, and conducting the recovery in a manner intended to avoid breach of peace.

Legal framework and safety: Repossession is regulated at the state level in many jurisdictions. Agencies and individuals may require licensure and surety bonding. UCC Article 9 governs secured transactions in the United States; many states specify constraints on how collateral may be recovered and how entry to property is conducted. Violations can result in civil liability or criminal charges.

Ethical and practical considerations: Repossession can damage lender-borrower relations and carry reputational risk; it may pose safety risks to the repoer and others; lenders often balance speed of recovery with thoroughness and compliance.

Terminology: The term "repoer" is less common in formal writing; more typical terms are repossessor or recovery agent. See also repossession, secured transaction, and collateral.