Efficient & Lawful Repossession for Lenders

As the leading Kisumu asset repossession agents, Swipe Recoveries Experts Ltd provides a crucial service for banks, SACCOs, and microfinance institutions facing loan defaults. When a borrower defaults on a secured asset like a vehicle, machinery, or equipment, a swift and legally compliant repossession is vital to mitigate financial loss. Our team of licensed and experienced agents specializes in executing repossessions across Kisumu and Western Kenya. We operate with strict adherence to the law, particularly the Auctioneers Act, ensuring every action is defensible, professional, and effective. We turn defaulted loans back into tangible assets for our clients.

The Legal Protocol for Asset Repossession in Kenya

Asset repossession in Kenya is not a simple 'snatch-and-go' operation; it is a legal process governed primarily by The Auctioneers Act, 1996 and its supporting Rules. Any deviation from this protocol can result in criminal charges and civil liability for the agent and the lending institution. Our process is built around 100% compliance to protect our clients.

The process must begin with proper notification. The lender must issue a statutory notice of default to the borrower, providing them with a stipulated period to remedy the default. If the borrower fails to comply, the lender can then instruct a licensed auctioneer. The auctioneer must then issue their own formal Proclamation Notice, giving the debtor a final, specific number of days (e.g., seven or fourteen, depending on the asset type) to pay before the asset is attached. Forcibly repossessing an asset without following this notification procedure is illegal. In some contentious situations, especially where a debtor is hostile or the asset is hidden, we work with our legal partners to secure a court order to facilitate the repossession, often with the assistance of the police from a local station like Kisumu Central Police Station.

Kisumu asset repossession agents
Swipe Recoveries Experts Ltd

Required Documentation & On-the-Ground Execution

A successful and legally sound repossession hinges on having the correct documentation in order before any action is taken. As your agents, we ensure all paperwork is verified and complete.

Essential Documentation includes:

The Original Loan or Hire Purchase Agreement: This is the foundational contract establishing the lender's security over the asset.
A Chattel Mortgage or Logbook: For vehicles, the logbook must be jointly registered or have the lender’s interest noted. For machinery, a registered chattel mortgage is key.
Proof of Default: A clear statement of account showing the arrears.
Copies of All Issued Notices: Both the lender's initial demand and the auctioneer's proclamation notice are mandatory.

Once the legal window for payment has closed, our Kisumu asset repossession agents execute the plan. Our team operates with discretion and professionalism to minimize conflict. We locate the asset—be it a truck in the Industrial Area or a car in a residential estate—secure it, and transport it to a secure storage yard. A full inventory of the asset's condition is taken at the time of seizure to protect all parties. The debtor is then served with a notification of the repossession and informed of the process for redemption or eventual sale by public auction.

Debt Recovery & Auctioneering Coverage in Kisumu, Kenya

Swipe Recoveries Experts Ltd provides commercial recovery, skip tracing, and auctioneering services across Kisumu, Kenya and all 47 counties in Kenya.

Repossession Fees & Associated Costs in Kisumu

A tow truck carefully handling a vehicle, representing Kisumu asset repossession agents at work.

Our fee structure for asset repossession is transparent and aligns with the legal guidelines set out in the Auctioneers Rules. The primary costs are the auctioneer's fees, which are often calculated on a sliding scale based on the value of the debt or the asset.

For example, the initial instruction and proclamation fee may range from KES 5,000 to KES 15,000. The actual repossession action will incur further costs, which can be a fixed fee (e.g., KES 20,000 - KES 50,000 for a standard vehicle) or a percentage of the asset's value. Additional costs, which are billed to the client (and are ultimately recoverable from the debtor), include:

Towing and transportation fees.
Secure storage yard fees (charged per day, e.g., KES 1,000 - KES 3,000 per day).
Costs for police assistance, if required.
Valuation report fees before a potential auction.

We provide a clear cost estimate before commencing any repossession action.

Frequently Asked Questions

What is the difference between a repossession agent and an auctioneer in Kenya?
In Kenya, the legal act of repossessing and selling a secured asset to recover a debt must be carried out by a licensed auctioneer. Repossession agents typically work for or under the instruction of a licensed auctioneer. The auctioneer holds the legal authority and license from the Auctioneers Licensing Board to issue proclamations and conduct sales. Our team at Swipe Recoveries consists of and works directly with licensed auctioneers.
Can my car be repossessed without a court order in Kisumu?
Yes, in many cases. If you have a chattel mortgage or a hire purchase agreement, the lender can use a licensed auctioneer to repossess the vehicle without a court order, provided they follow the strict notification process (proclamation). However, a court order becomes necessary if the asset is within a private residence and you refuse entry, or if there is a significant dispute over the outstanding amount.
What happens after my asset is repossessed by your agents?
After a successful repossession, Swipe Recoveries Experts Ltd transports the asset to a secure yard. You, the debtor, are given a final period (typically 7-14 days) to redeem the asset by clearing the outstanding loan balance plus the repossession costs. If you fail to do so, the asset will be valued and subsequently sold via a public auction, as required by law, to recover the debt owed to our client.