Repossession Assignment Form PDF Details

When a borrower fails to meet their payment obligations for a financed or leased item, whether it's a car, boat, or other valuable property, creditors have the right to take back, or repossess, the collateral. This is where the Repossession Assignment form plays a crucial role in the legal and logistical framework of asset recovery. Essentially, this document authorizes a third party, in this case, Alpha Recovery, to act on behalf of the creditor to retrieve the item in question. The form meticulously details the collateral to be repossessed, including its make, model, color, and identification numbers which are vital for accurate recovery. It also includes comprehensive debtor information, such as contact details and employer information, making the process streamlined and more efficient. Moreover, it outlines the financial aspects, detailing the amount owed and any past due amounts, granting clear insight into the debtor’s account status. Importantly, the form includes a hold harmless agreement, protecting the repossession agent from liability except in cases of negligence or unlawful acts on their part. This document not only formalizes the repossession process but also ensures that all parties involved are aware of their rights and responsibilities, thereby minimizing potential disputes. It's a testament to the meticulous planning and legal foresight required in asset recovery operations, ensuring that the recovery process is conducted professionally and within the bounds of the law.

QuestionAnswer
Form NameRepossession Assignment Form
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other namescar reposession form, repossession assignment form, SSN, TX

Form Preview Example

WWW.AUSTIN.COM

REPOSSESSION ASSIGNMENT & HOLD HARMLESS FORM

COLLATERAL DESCRIPTION: YR:

 

 

 

 

 

 

 

MAKE:

 

 

 

MODEL:

 

COLOR:

 

 

LICENSE PLATE:

VIN:

 

 

 

 

 

 

ACCOUNT NO:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DEBTOR INFORMATION: NAME:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ADDRESS:

 

 

 

CITY:

 

 

STATE:

ZIP:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PHONE:

 

 

 

ALT. PHONE:

 

 

 

 

 

 

 

 

 

 

DOB:

 

 

SSN:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DRIVER LICENSE NO:

 

 

 

 

 

 

 

 

STATE:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EMPLOYER:

 

 

 

 

 

 

 

PHONE:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ADDRESS:

 

 

 

 

CITY:

 

 

 

STATE:

ZIP:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CO-DEBTOR INFORMATION: NAME:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ADDRESS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CITY:

 

 

 

 

STATE:

 

 

ZIP:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PHONE:

 

 

ALT. PHONE:

 

 

 

 

 

 

 

 

 

 

DOB:

 

 

SSN:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DRIVER LICENSE NO:

 

 

 

 

 

 

 

 

STATE:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EMPLOYER:

 

 

 

 

 

 

 

PHONE:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CITY:

 

 

 

 

STATE:

 

 

ZIP:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BALANCE INFORMATION: AMOUNT OWED:

 

 

 

PAST DUE:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

This is your authorization to act as our agent to collect or repossess the above named collateral. We name Alpha Recovery as our exclusive agents for repossessing this collateral. We have reviewed and agree to the fee schedule provided by Alpha Recovery and understand that Alpha Recovery does not operate on a contingent basis. We agree to indemnify and hold you harmless from and against any and all claims, damages, losses, and

actions including reasonable attorney fees, except for any unlawful acts by your firm. You will not be held liable for the mechanical operation of the collateral or for insurance protection except i ase of your egle t. This is a la ket hold har less agree e t for all assig e ts issued or

that may be issued in the future.

AUTHORIZED BY:

 

 

 

 

TITLE:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SIGNATURE:

 

 

 

 

 

DATE:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

COMPANY NAME:

 

 

 

 

 

 

 

 

ADDRESS:

 

 

CITY:

STATE:

ZIP:

 

 

 

 

 

 

 

 

 

 

PHONE:

 

 

 

FAX:

 

EMAIL:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

How did you hear about us?

*Note: Should you have any unique or defining information that would be helpful in the recovery of your collateral please forward such information with this completed form. Please also include a copy of the credit application and security agreement. We appreciate your business.

P.O. Box 270131 Austin, TX 78727 · Toll Free: 888.813.1325 · Local: 512.535.4001 · Fax: 512.428.8144

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