Just out of curiosity, my manager at work owned a towing company. Occasionally he got hired to do repos, this one tech but a snap on tool box and wasn't making payments, so he was hired to go get the box. He went and grabbed the box with all the tools in it. Guy came running out and my boss Told him he couldn't grab anything unless he had receipts? Told the guy "snap on is taking you to court, if you want your tools back you can get them then" Is this something that seems realistic. The story seemed overdone to me, like an extreme case. I can only imagine this was a guy who refused to hand it over. I doubt snap on would hire somebody to get the box if someone was willing to give it back. Just wondering if this story seems like there's any truth to it
I doubt Snap-On directly hired the tow truck driver.
I'm good enough at repos that I get calls to do other dealer's repos. One big thing, I cannot break the peace.
W/R/T contents of toolboxes, if it was on Snap-On Credit, anything that bears the Snap-On legend, or was sold from a Snap-On truck (supplemental products) it can be repossessed to offset any deficiency balance owed.
All of our receipts/invoices spell out our rights very specifically and are defensible in every state as valid notice of a promissory merchandise security lien (PMSL) and that if we have to pursue collections activity, the customer is liable for collection expenses. It only requires a single signed invoice to invoke these rights and terms.
Also, there are NO involuntary repossessions W/R/T Snap-On. If the deadbeat won't give it back voluntarily, I back off and allow my attorneys to pursue-if it's one of my deadbeats. I've employed the services of a bounty hunter in a few cases. HE is VERY effective and finds everyone!
In a nutshell, I suspect there may have been some exaggeration in what was recounted to you.
Even in bankruptcy, people are allowed to retain cars and living quarters, "tools of the trade" might--or might not be similarly privileged.
In many states, a tradesman's tools are untouchable by bankruptcy courts-unless they are not paid for! OTOH, if listed in a bankruptcy, the tools can be retained, but the tool man is frequently a preferred creditor. I'd rather have a guy declare bankruptcy and list the tools. I know I'll get paid-AND-I am given a chance to challenge the Bankruptcy Court and if my argument is compelling enough, I'll get my tools back.
While many seem to want to focus on the negatives of the tool truck business, I find MANY positive experiences and relationships. I have some very good friends who are customers and they are frequently visiting at my home and I frequently am a visitor at their homes as well.
There are however a few who are not only not welcome, but know exactly what will happen should they come to my home again. My wife has no tolerance for unwanted visitors and she can take care of herself-she also is friends with some of my customers.
If you're not afraid of hard work and don't mind people, it can be a fantastic career.
