Can a plane be repossessed?

The airplane repo process is fairly straightforward, albeit logistically complex. A bank typically gives someone who is late on a loan payment 90 days (and 3 written warnings) before siccing Hill on the job.

How accurate is airplane repo?

Many have charged that the show’s supposed usage of security footage and other raw found footage-style shots is actually highly staged. In reality, Popovich himself has stated that later episodes of the show are not realistic. The further into Airplane Repo you go, the less realistic the show becomes.

How many airplanes get repossessed each year?

Mr. Hill, who lives in Santa Barbara, Calif., said he typically repossessed about 30 planes a year, ranging from propeller-powered Piper trainers to twin-engine Gulfstream business jets.

Is it illegal to avoid repossession?

In most states, taking these actions won’t violate any laws, unless you do it with the intent to defraud the bank. For example, if you normally keep the car locked up in your garage, you can continue to do so. In some states, though, deliberately hiding a car from the repossession company is a crime.

Is airplane repo a fake show?

Criticisms faced by Airplane Repo Airplane Repo is no stranger to facing criticism regarding its claimed reality series. Many instances prove the episodes are scripted and staged. The show makes it look like a real and perfectly legal repo of an airplane done by the show’s cast.

How much do repo pilots make?

To supplement their income, some of those pilots have done a little freelance work on the side—and when you have a skill set as specialized as theirs, airline repossession is a natural fit. For the work, pilots get anywhere from $500 to $1,700 per day—plus expenses.

Is Repo Man uncut real?

Of course it’s scripted!

What does Nick Popovich earn?

He is an “aircraft repossession specialist” who never finished college but who has a net worth of more than $2 million, drives a Bentley, chain smokes cigars, and owns the oldest aircraft repossession service in the world.

Can a repo man call the cops on you?

The repo man is not allowed to ask for police assistance in order to seize your car. Vehicle repossession is a private affair. The repo agent is not even allowed to threaten to call the police in order to help take the car. This is a violation of the Fair Debt Collection Practices Act.

Is Airplane Repo coming back in 2021?

Airplane Repo Cancelled — Discovery Channel Series Not Returning for Season 4. Produced by Underflow Films for the Discovery Channel, Airplane Repo is an American docu-series that follows repossession agents recovering aircraft and other high-value assets from those who fell behind on their loan payments.

Who is Heather Sterzick?

‘Repo’ pilot. Heather Dirksen (née Sterzick) hasn’t let grass grow under her feet. She joined the U.S. Army at age 18 and has lived in South Korea; Abu Dhabi; Kosovo; and briefly in Afghanistan, where she was a contract air traffic controller.

Is it possible to repossess an airplane?

Certainly though, the existence of professional aircraft repossession specialists should serve as a reminder of just how expensive owning and operating even a small general aviation aircraft can be. His advice : “Talk to the bank. Banks don’t want to repossess the airplane and I don’t want to repossess the airplane.

What do Airplane Repo Men do?

Air & Space Smithsonian has a great feature on the business. Business has picked up significantly with the economic downturn. On the other hand, airplane repo men like Nick and Ken are most likely working for banks that specialize in aircraft loans and they still must sell the aircraft in order to earn a profit.

What does a business jet repossession specialist do?

Leading business jet repossession specialists advise aircraft and helicopter lenders and lessors on how to repossess aircraft. From locating priceless paperwork to battling with corrupt jurisdictions, repossessing an aircraft is a position that no lender ever wants to find themselves in.

What are the tools used to repossess an aircraft?

However, most aircraft repossessions go much more smoothly as airport officials would most likely be notified ahead of time while the tools of the trade would include a propeller lock, a portable radio, a hand-held GPS device plus a fanny pack that contains hundreds of different keys. Air & Space Smithsonian has a great feature on the business.