AP Link
2/15/09
OKLAHOMA CITY
"A lot of influential people have been losing their vehicles because business is slow on everything."
"But what might surprise a lot of people is that doctors, lawyers, those you would assume to be among the elite, there's more of them getting into the same sort of trouble lately."
People who normally live from paycheck to paycheck or have already lived through rough times seem to be able to accept the repossession of a vehicle better than those with higher socioeconomic status, Cole said.
"For people who aren't used to this, it very much is a culture shock."
And you might as well forget about ever asking an attorney to hand over a vehicle voluntarily, Compton said. He would much rather take a car covertly without dealing directly with a professional arguer.
"They'll give you all the reasons in the world why they won't give it up, and they simply won't do it," he said.
The only positive turn noted by Compton and others in the industry was expected for this time of the year: Income tax returns seem to help a lot of consumers get back on track.
From January 2007 to July that year, Aggressive Recovery averaged 170 cases per month. From August through December, the numbers increased to just over 400 per month. Repossession orders dipped early in 2008 to about 250 by the middle of the year.
Edited by Rogerdodger, 15 February 2009 - 11:37 PM.
