An impound recovery is when the collateral has been impounded by the city tow company or a private company. Typically there are fees involved and the repossession company will pay that fee up front, which is called a bail out. The repossession company must be familiar with the process or he could end up making multiple trips to the impound yard. This could be costly because the longer the unit is in the yard the more fees accrue. Also note, a repossession hold harmless is needed to secure the unit without the debtor being present.
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IMPOUND RECOVERY
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