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Now we know when furlough ends, is it worth retraining as a repo agent?


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With the announcement from the conservative government today that the furlough scheme ends in October 2020, with a ballooning of unemployment and delinquencies, I'm seriously thinking of retraining as a repo agent to ensure I'm employed until I retire.

Or am I wrong?

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It is very unclear how the new scheme will work, but it seems likely people will be asked to return part time maybe working 4 hours per day and still getting 80% of salary.

So you will have all the commuting costs on a reduced salary, will be interesting times for the indebted.

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43 minutes ago, Crowdedmarket said:

With the announcement from the conservative government today that the furlough scheme ends in October 2020, with a ballooning of unemployment and delinquencies, I'm seriously thinking of retraining as a repo agent to ensure I'm employed until I retire.

Or am I wrong?

The fees some of them bailiffs charge & some of the sketchy characters involved (previous criminal convictions, crossing the line) makes it seem like easy money with low barriers to entry. 

But will anything be worth seizing? Or will "Extend and pretend" be flavor of the decade. In a low/no interest rate environment I think it will be until prices are reinflated.

I've you've got the ability (and don't want to do the repo face-to-face) become a fixed-charge receiver. Oh boy do they charge excessive fees. 

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6 minutes ago, Voltron said:

Anybody else enjoy the programme "Can't Pay? We'll Take it Away!", looks like that will be having a new series...

They are intending to change the format I believe.

At the end of every episode RIshi Sunak will arrive with a cheque to pay off the bailiffs - so all the debtors can keep their goods and their homes and everyone goes home happy!

And at the very end of the series the bailiffs turn up from the IMF to No 11 Downing Street instead!

Edited by MARTINX9
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18 minutes ago, Council estate capitalist said:

But will anything be worth seizing? Or will "Extend and pretend" be flavor of the decade. In a low/no interest rate environment I think it will be until prices are reinflated.

I remember a bailiff coming into the printing firm I worked at. Everything was leased - printer's, computers, desks, chairs they had the appearance of a well off printing firm in a nice canal side unit, but none of it was theirs. I was a book keeper then and it turned out a part of my job was to walk round the building with the balif and, every piece of equipment he pointed at, I had to produce the lease agreement or he would seize it. Very stressful 

Ironically the people who will benefit are those with a white X5 on lease, and all their furniture and electrics on a monthly payment at Bright House. Nothing to see here Mr bailiff, move along... 

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29 minutes ago, regprentice said:

I remember a bailiff coming into the printing firm I worked at. Everything was leased - printer's, computers, desks, chairs they had the appearance of a well off printing firm in a nice canal side unit, but none of it was theirs. I was a book keeper then and it turned out a part of my job was to walk round the building with the balif and, every piece of equipment he pointed at, I had to produce the lease agreement or he would seize it. Very stressful 

 

Increasing stress and acting like they will seize property that isn't the debtors is part of the M/O. 

Some cases they will seize, other cases they won't but will act like it, and other cases they plainly can't (Threatening to seize washing machines, fridges etc). 

In my mind it's a necessary evil in 80% of cases. Winding up orders are the only real alternative and there's usually nothing left after the liquidator's fees or it's pence in the pound. 

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17 hours ago, Drifty said:

You are wrong...you should retrain as an estate agent B)

Yep at least one is chipper at the moment.

1470029686_Screenshot2020-05-30at11_10_14.thumb.png.648d3070797b0a5c74f7f957681f61fe.png

 

Not what i am seeing or hearing around here.

I have had the first call regarding a property I made an offer on..... in February!  It SSTC'd in a week but has now been back on for over 3 now.

Fallen though as have a number of others that have sat SSTC from Feb/March over the lockdown.

Not many reductions but a steady stream and ominously sstc's and new listings coming back on.

 

 

Edited by Fromage Frais
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15 minutes ago, Shrink Proof said:

"Now we know when furlough ends, is it worth retraining as a repo agent?"

Definitely. The life of a Repo Man is always intense.

That job would suck... dealing with the SCUM of the earth day in day out trying to collect on debts . Same with bailiffs .

No offence to anyone in that profession:) 

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45 minutes ago, Warlord said:

That job would suck... dealing with the SCUM of the earth day in day out trying to collect on debts . Same with bailiffs .

No offence to anyone in that profession:) 

What Warlord said.

I cant imagine what it would be like turning up to do that kind of work every day. How bad does your current job have to be?

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  • 415 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
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      • up 5%



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