Blog
How a boat repossession works
January 8, 2021
Lenders, when it comes to Vessel Repossessions, Arrests and Remarketing of your Marine Portfolio Marine Asset Recovery is a leading expert.
We will locate your collateral, repossess and re market all while continually coordinating and updating our progress with you.
Repossessed boats will be listed for sale on the below website of our affiliate brokerage company.
In order to arrest a vessel for a civil lien there must be a court order authorizing a U S. Marshal seizure/arrest.
We are a Florida based company with coverage West to Texas, North through the Mid-Atlantic and North East, the Bahamas and other International locations.
Read More
We will search the Seven Seas until we locate your collateral.
We will safely take lawful possession and secure your collateral.
We will extensively remarket and bring you the highest return on the sale of your collateral.
You may have breached your loan contract by missing monthly payments or your vessels insurance may have lapsed.
We have completed a personal property inventory report and sent you a certified letter by mail if your vessel was repossessed in FL, otherwise you may receive notice by phone or email with instructions on how to retrieve your property.
Please contact your lien holder before contacting us!
Your vessel is in one of our secure storage facilities.
Depending on your state laws, your lien holder may proceed with court proceedings to obtain a deficiency judgement against you.
Unless your vessel was repossessed more than once, you may generally be able to make arrangements to redeem your vessel by paying your past due and any related repossession and storage fees.
You may have breached your loan contract by missing monthly payments or your vessels insurance may have lapsed.
We have completed a personal property inventory report and sent you a certified letter by mail if your vessel was repossessed in FL, otherwise you may receive notice by phone or email with instructions on how to retrieve your property.
Please contact your lien holder before contacting us!
Your vessel is in one of our secure storage facilities.
Depending on your state laws, your lien holder may proceed with court proceedings to obtain a deficiency judgement against you.
Unless your vessel was repossessed more than once, you may generally be able to make arrangements to redeem your vessel by paying your past due and any related repossession and storage fees.