Sunday, February 22, 2009

Repossesions on the Rise

Repossessions a busy business
Ken Gousseau
Medicine Hat News

Repossessions are on the rise in Medicine Hat as some residents struggle to pay debts during the global economic recession.
Kelly Beresowsky, a civil enforcement bailiff in the city, has recently seen his business increase 50 per cent.
“I’m a heck of a lot busier than I was six months ago,” he said.
Most of the vehicles Beresowsky has been repossessing lately are souped-up trucks belonging to young oilfield workers.
“A lot of the oil guys are travelling further to get the work,” he said. “Those that aren’t willing to are the ones I’m paying visits to.”
But the current economic turmoil is beginning to take its toll on people who aren’t stereotypical big spenders, Beresowsky noted.
“Unfortunately you are seeing a lot more of the hard working people having a tough time,” he said. “Through no fault of their own, they end up losing their job or getting a reduction in pay.”
Provincially, Prairie Bailiff Services has experienced a 15 per cent increase in civil enforcement actions launched by landlords and a 60 per cent rise in vehicle and equipment repossessions compared to last year.
“Medicine Hat and Lethbridge have increased a bit but not as close to the dramatic increase that the rest of the province is seeing,” said Travis Piercuy, a bailiff with the company. “Companies out there are a lot more stable.”
As repossessions rise in the province, bankruptcies have followed suit, increasing 24.8 per cent in between 2007 and 2008, according to Bankruptcy Canada.
Hmm, perhaps this is the line of work to get into!! I have a feeling they are going to be some of the most secure job spots in North America!

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