Repo man got more work in ’05

ROSLYN HEIGHTS, N.Y. — Repossessions and liquidations of tractor-trailer trucks increased again in the fourth quarter, according to Nassau Asset Management in N.Y.

In November, the company reported that overall equipment repossessions and liquidations during the first three quarters of 2005 increased significantly for the first time since 2002.

The upward trend continued in fourth quarter 2005 for tractor-trailer trucks (+145 percent) and construction equipment (+44 percent).

“We believe fuel costs in 2005 have contributed directly to the rise in truck repossessions, and may have had some impact on construction repossessions,” said Nassau President Edward Castagna. “But it is important to note that more positive factors are also at play.

“Reports indicate that equipment leasing industry volume has been increasing. That means there was more leased equipment in the marketplace in 2005 than in 2004. Naturally, there will be a rise in repossessions and liquidations when the pool of equipment in the marketplace has increased,” Castagna said.

Nassau’s NasTrac Quarterly Index reveals trends in equipment repossessions and orderly liquidations based upon the company’s own internal activity in a given quarter compared to the same quarter the previous year.

Nassau provides asset recovery, appraisal, collections, liquidation and remarketing services for equipment leasing and finance companies across the nation.

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