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Various objects can be repossessed, including boats and aircraft, but most repossession agencies focus on car repossession. The repo agent normally uses a tow truck or pickup truck with a special towing attachment called a boom. They also may obtain the key from the car owner. Usually, the vehicle owner must be notified of a repossession.
Ads proclaiming "Government Vehicle Disposal" and "The Repo Joe Sale" are designed to steer buyers to special used car sales events under the pretense they're getting a special deal.
Auto auctions are the most common method of disposing of repossessed vehicles. Repossessed vehicles can feasibly sell for less because the financial institution disposing of them only seeks to offset its losses (also restricted by federal regulations). The condition of such cars may be compromised by lack of maintenance.
Vehicle immobilization is a key part of the act of impounding.. Vehicle impoundment is the legal process of placing a vehicle into an impoundment lot or tow yard, [1] which is a holding place for cars until they are placed back in the control of the owner, recycled for their metal, stripped of their parts at a wrecking yard or auctioned off for the benefit of the impounding agency.
It was too little and too late. The Thompson creditors in 1966 forced the sale of the company and Saul Padek got control of all the stock for less than $4,000 cash layout. The Thompson family was out of the boat business at Peshtigo. Under Padek's ownership Thompson Bros. Boat Mfg. Co. declared chapter 11 bankruptcy in September 1966. Padek ...
Stephens Bros. boat owners meet every year at the Stephens Rendezvous, organized by the Northern California Fleet of the Classic Yacht Association, to show off these beautiful vessels. A collection of Stephens Bros. documents, photographs and original drawings are available to the public in the archives of The Haggin Museum in the brothers ...
Put up for sale in 2016 Unknown - Listed for sale in 2016: General characteristics; Length: 144.2 feet (44.0 m) Depth: 16 feet (4.9 m) Installed power: 1945: 1,200 ihp (890 kW) 3-cylinder 24 x 20 Skinner Uniflow steam engine; 1967: 1,600 hp (1,200 kW) General Motors 567C EMD F-7 diesel engine; 1990: Two 12-cylinder turbo EMD engines; Propulsion ...
Fleming Companies, Inc. was founded as Lux Mercantile in Topeka, Kansas, in 1915 by O. A. Fleming, Gene Wilson and Samuel Lux. [1] In 1921 the company's name was changed to Fleming-Wilson, and in 1941, the company name was changed again to The Fleming Company. Ned Fleming, son of O.A., was named president, chairman, and CEO. [2]
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