Repo

[big bubba]

so, must have missed, what is the balance of the OP's tractor note, what's his investment?

 

[diesel85]

A few years ago a buddy who worked for a towing company brought me on as a "repo scout". Basically I would go around with paperwork and locate repos. From cars, trucks, semis, motorhomes, trailers, motorcycles, and yes, even tractors and other farm equipment. I would have to observe and work with the creditors along with finding the "right" time to recover the asset. Basically I was an Asset Recovery Specialist.

It's very interesting work... I was OK at it, but it's one of those things that's eh, not my cup of tea. Did it for about 2 years and that was enough.

When I'd be actually in the tow truck I always wondered if I was going to get shot or something. God was with me the whole time, as there was some pretty sketchy things that happened.

I'm not going to go into much more detail... but it's pretty amazing how stupid and careless people act over material possessions.

 

[diesel85]

I'll add one more thing... it's pretty slick to post this on a public forum -- especially if it's a username or email address you use in other places and slip up.

Forums and other places where I'd look, along with eBay, CL, etc.

If there was reason to believe of a criminal act, the forums might need to release the IP information or any information per a subpoena.

 

[RickB]

This thread reminds me of airplane repo. I often wonder how folks can get financing for a plane than feel it's rightfully there's without fully paying for it and how did they become so well off without paying bills on time?

How many pilots do you know?

 

[MossRoad]

A few years ago a buddy who worked for a towing company brought me on as a "repo scout". Basically I would go around with paperwork and locate repos. From cars, trucks, semis, motorhomes, trailers, motorcycles, and yes, even tractors and other farm equipment. I would have to observe and work with the creditors along with finding the "right" time to recover the asset. Basically I was an Asset Recovery Specialist.

It's very interesting work... I was OK at it, but it's one of those things that's eh, not my cup of tea. Did it for about 2 years and that was enough.

When I'd be actually in the tow truck I always wondered if I was going to get shot or something. God was with me the whole time, as there was some pretty sketchy things that happened.

I'm not going to go into much more detail... but it's pretty amazing how stupid and careless people act over material possessions.

I had a good friend that was a repo man. He was murdered at the location of a repo job in the early morning hours. Made to kneel down and shot in the head. They had several suspects (the person he was repoing the car from, the person he was repoing the car for, and one of his family members). It's never been solved.

 

[MossRoad]

How many pilots do you know?

Don't know how many he knows, but I recall putting chains on props on quite a few airplanes in the 6 years I worked at the airports. Kinda surprised how many, actually.

 

[Frankenkubota]

Whether the buyer of the unit is aware of the mitigating circumstances or not, when Kubota tracks down the unit, they will repo it and that buyer is totally out of the purchase price. Might take time but the 'wheels of law' turn steady

Yup

A friend bought a used enclosed trailer. Years later some
u-haul agent showed up, threatened to take legal action and did take back the trailer.

 

[JJZ 109]

Doesn't matter as the OP most likely wont be back anyways...

We see this often. A new poster arrives, throws out a question, fishing for an answer that they may not get. Then you never hear from them again.

 

[Varmintmist]

This thread reminds me of airplane repo. I often wonder how folks can get financing for a plane than feel it's rightfully there's without fully paying for it and how did they become so well off without paying bills on time?

Just because a person has toys, does not mean they are well off. You can have a million dollar house that the bank owns, a Corvette that is owned by GM financing, a orange tractor that is owned by Kubota, a boat, and even your furniture in the banks house that you dont own.
I think the TX term is "all hat, no cattle"

 

[sunandsand]

Here's a possibly workable plan B:

OP rents the tractor to a friend, uses the rent to keep Kubota happy, when he gets back on his feet, he gets the tractor back and resumes making the payments himself. (Friend has to give the money to OP, who sends it to Kubota, there's probably a due-on-sale clause in the finance contract. Make sure the money actually GETS to Kubota, OP may be in such difficulties that he diverts the payment stream.)


Friend gets the use of a tractor just for the payments, OP eventually gets to keep the tractor (nobody goes to the slammer) and Kubota stays happy, they're getting paid. Alternately, the friend makes the rest of the payments (through OP) and keeps the tractor if OP can't get going again or just no longer wants it. Same caution as above.


Again, we don't really have enough information to determine what is actually going on here. If everyone is on the up-and-up, plan B might work. If someone is playing games, well, they deserve whatever Kubota and the law does to them.

Best Regards,

Mike/Florida