ED Magedson – Founder
Texas Repointernet, Select State/Province USA
Texas Repo - ICU INC - Collateral Locator Service - Jay Carter Repo Rip Off internet TX OH MI BC
Our dealership needed a vehicle repossessed in the valley which is a few hours away. We looked online and found texas-repo.com called the "repo man" Jay. He said he was in the customer's city and could pick up the vehicle. We faxed the info and gave him the exact address where the vehicle would be located. The following morning he calls to let us know he has the vehicle. I asked what the total was and told him we would bring the money asap and pick up the vehicle. He said he had to let the accounting department handle the bill. Red Flag - what repo man uses an accounting department? A little while later we receive the bill for $5000!! We don't do repos very often but when we do the price range is $500-800, no where near $5000!
I called Jay and he got very upset w/ me and told me his fee was based on a percentage of the collateral value. Not at all the $400 he quoted originally. I re-read the hold harmless agreement and there it was, the fine print, the possible charge of 10-20% of the collateral value for "skip tracing". However, there was absolutely NO skip tracing. We told him exactly where to pick up the vehicle.
Also, the bill that was faxed was from ICU Inc out of British Columbia, not Texas Repo. Next, we were told that we could "settle" w/ them for $2500. At this point we just wanted our vehicle and were ready to pay the $2500. But, he said he could only accept the money by wire transfer to Ohio. Red Flags - wire transfer? you won't tell us where our vehicle is? you have no proof of anything? but you want thousands of dollars wired to another state??
The customer shows up at our office, pays for the vehicle in full, and we begin to explain the wire transfer issue so that they can pick up the vehicle. They said "no, problem, we know where it is and we'll handle it". After googling ICU Inc we founds tons of horror stories like ours where vehicles were held hostage for ransom. Thankfully, our customer was able to contact the actual repo man and pick up the vehicle. Texas Repo , ICU, Collateral Locator... whatever they're called took our paperwork, faxed it to someone else, offered them $350, and sent us a bill for $5000... how is that not a scam?! At no point were we told we would be hiring a "firm" to act as a middleman. We don't need a middleman, never have, never will. We do our own skip tracing and send out a tow truck, plain and simple deal which is exactly what we were led to believe in this case.
If you've been led to this review b/c you just received a $$$$ bill from ICU INC my recommendation to you is call every towing company in that town until you find who actually has your vehicle b/c you're both stuck in the middle of a scam!!
This report was posted on Ripoff Report on 07/31/2013 02:42 PM and is a permanent record located here: http://www.ripoffreport.com/r/Texas-Repo/internet-Select-StateProvince/Texas-Repo-ICU-INC-Collateral-Locator-Service-Jay-Carter-Repo-Rip-Off-internet-TX-1071832. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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