The Cost of Living Large ; Repo Men Thrive When High Expectations Fall Short

Summary

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With high gas prices, rising interest rates and growing unemployment, more people are being forced to give up the keys to the car when they can't pay the bills. The economic slowdown has led to a nationwide increase in vehicle repossessions, particularly in the past five months, according to Les McCook, executive director of the American Recovery Association in Irving, Texas.

Bill Johns, owner of Laurel Adjustment Bureau in Lanham, said people used their tax refunds and economic-stimulus checks to stave off creditors earlier this year. But the extra money ran out, leading to a 10 percent to 15 percent increase in repossessions since May.

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The Cost of Living Large ; Repo Men Thrive When High Expectations Fall Short

"We get on top of our game right now. This is a booming business for the bad guy," said Robert Jones of AGR Towing and Recovery Inc. in Temple Hills. "We'll eat real good for the next three years, easily."AGR's workloa...

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