Here you will find words and phrases I use all the time that you may not recognize. These definitions are not ACTUAL definitions. They are only meant to help some people understand certain words or phrases.
Addy: Short for Address
B: Buyer
Co/b: Co-Buyer – Co- Signer
CR: Condition Report
Debtor: Person that owes a debt. Primary signer or co/signer
DK: Door Knock
Disco: Disconnected
J-hook: A large hook shaped like a “J” used to chain the vehicle to the lift.
Lift: The device we use to lift a vehicle.
Minute Man: This is the name of one of the companies that made the remote control lifts used in some repo trucks. I use the word “made” because they are no longer in business.
PD: Police Department
POE: Place of Employment
POB: Place of Business
Spoons: The 2 “C” shaped parts of the lift where the tires rest when lifted.
Strap: A strap that goes over the lifted tires to hold it down in the spoons of the lift.
Straw Purchase: In laymans terms – When a person finances a vehicle and sells it for cash to another person (totally unrelated to the loan) way below it’s value and never makes a payment. They will usually later claim it must have been identity theft.
VIN: 17 digit Vehicle Identification Number
