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How to Become a Repo Man in North Carolina

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Repo companies In North Carolina are not regulated and not required to have special licenses for operation, nor specific training. To become a repo man, simply start your company. However, you will want to familiarize yourself with North Carolina repossession laws and secure a means of repossessing items for your clients, such as a tow truck.

Choose a legal structure. Set up a sole proprietorship, general partnership, Limited Liability Company (LLC), Limited Liability Partnership (LLP), Limited Partnership or corporation. There are pros and cons to each, so the right one for you depends upon your personal circumstances. The North Carolina Department of Commerce offers a guide to choosing the right legal structure on their website.

Register your business name. Sole proprietorships and general partnerships should register with the Register of Deeds Office in the county of the business. Find the contact information for your county’s Register of Deeds Office on your county government’s website. All other business types should register with the North Carolina Secretary of State via their website.

Learn North Carolina repossession law. Creditors are allowed to repossess property as soon as a single payment is missed or if the contract is breached in some other way, such as lapsed car insurance, according to the NC Department of Justice. Creditors are not required to notify debtors of their intent to repossess or give them a chance to make up missed payments before ordering a repossession. State law allows repossession agents to go on private property to repossess items for their clients as long as they do not “breach the peace.” No other legal requirements specifically govern repossessions in North Carolina.

Obtain items you will need to conduct repossessions, such as a tow truck or moving truck. What you need will depend upon the kind of clients you plan on targeting (i.e., furniture companies, car companies).

Obtain insurance. It is required in North Carolina, so contact the North Carolina Department of Motor Vehicles for the requirements. Though no specific repossession insurance requirements exist, it is a must for many customers. They want to know you are insured and can cover the costs should any items you repossess get damaged while in your care. Thus, possessing insurance will help you get jobs. According to, a good rule of thumb is to have a liability policy to cover you in case of a wrongful repossession, and liability policy to cover you for property damages--each at a minimum of $1 million. If you will be storing repossessed items on your property, such as a repo lot, you may need insurance to cover stolen items.

Advertise. Let banks, car lots and other businesses with repossession needs know you are insured and ready for hire.


Lily Welsh is a freelance writer from North Carolina, though she has spent much of her adult life living abroad. She is the Guide to Music Careers, and her work appears frequently in other Web-based and print publications. Welsh has worked in the music industry for 15 years and counting and holds B.A.s in international studies and economics.

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