Ever found yourself at the bottom of a Lancashire quarry in
the rain to collect a JCB, only to discover no one has the papers
necessary to move it?
Perhaps you’ve turned up at a
construction site to collect scaffolding, only to find five other
lessors there to do the same – and no way to tell what’s yours and
what’s not?
Go deeper with GlobalData
We at Leasing Life are looking
for the worst collection tales from the UK and Europe for this very
diary page, so get in touch if you have a horror story worth
sharing or perhaps a leasing myth you’ve heard.
Company names and sensitive
details can, of course, remain anonymous. We look forward to
sharing your woes.
Simon Corbett of Siemens
Financial Services still wakes up at night in a cold sweat
over these experiences.
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By GlobalData“I was sent to repossess an oven
from a fish and chip shop, except on closer inspection the oven was
leased along with the entire kitchen – aluminium, units, burners,
grill, deep fryers the lot – which were all located in the
basement.
“I also repossessed a car, which
had several dead pigeons (and other game) in it.
“I presume they had been shot with
the two, what turned out to be, unlicensed shot guns… also in the
boot.
“Another time, I was sent to
collect a car from a location in a military area to find it was
actually in the army base (paratroopers, no less).
“The hirer had given me the road
address but omitted to tell me exactly where it was.
“The MPs (fully armed) had some
sport with me, but I knew the gate sergeant so in the end the hirer
was summonsed to give me the keys and the car!”
Meanwhile, E. Terry
Jaramillo, managing director of Capital Interfunding in the
US, recalls a trip to the Caribbean he won’t lightly
forget.
“I was retained to assist a client
in the assessment of collateral value and assist in the
repossession of collateral of four commercial aircraft in the
Dominican Republic.
“The lessee had defaulted on its
loan payments to the bank, and a lengthy legal process ensued. The
ability to foreclose on collateral varies from jurisdiction to
jurisdiction, and this was no exception.
“The actual repossession became
more ‘interesting’ when the owner of the airline showed up with
armed associates and attempted to intimidate us.
“Fortunately, my in-country partner
had retained local police and members of the military to assist us,
together with the notary public in executing the repossession
order. Someone mentioned that this may have been the first
successful repossession of an aircraft in that country
(unconfirmed).
“I hope I never have to do that again.”
