Kenya's Premier Repossession Specialists

Compliant and Professional Asset Recovery Services

As leading Kenya repossession specialists, we understand that recovering an asset is a sensitive and legally complex process. For creditors such as banks, microfinance institutions, and Saccos, a failed loan requires a swift, professional, and—above all—legally compliant repossession strategy to mitigate losses. Unlawful recovery attempts can lead to costly legal battles and reputational damage. Swipe Recoveries Experts Ltd stands as your trusted partner, providing ethical and effective repossession services across Kenya. Our expertise is grounded in a thorough understanding of the Movable Property Security Rights Act, 2017, ensuring every action we take is defensible, professional, and geared towards results.

The Legal Maze of Asset Repossession in Kenya

The legal landscape for asset recovery in Kenya has been significantly shaped by the Movable Property Security Rights Act, 2017. This Act modernized and streamlined the process, creating a centralized electronic registry for security rights in movable assets (like vehicles, machinery, and equipment). Before this, the Chattels Transfer Act was the primary legislation, but the 2017 Act now provides a clearer, more efficient framework. As Kenya repossession specialists, our process begins by verifying that the creditor has a perfected security right registered under this Act. This is a critical first step for lawful repossession.

Crucially, the law sets out strict procedures that must be followed. A creditor cannot simply seize an asset. They must first issue a statutory notice of default to the debtor, giving them a chance to remedy the default. Only after the notice period expires without resolution can the creditor exercise their right to take possession of the asset. The Act emphasizes peaceful possession. Any action that constitutes a 'breach of the peace' is illegal. This is why engaging professional repossession specialists is vital; we are trained to handle the process without confrontation, acting within the precise boundaries of the law to protect our client's interests.

The Professional Repossession Process: A Compliant Approach

Our repossession process is a carefully orchestrated series of compliant steps designed for maximum efficiency and minimal risk. The first step is Instruction & Verification. Upon receiving instructions from a client, our team immediately verifies all security documentation, including the loan agreement, the registered security right under the Movable Property Security Rights Act, and records of default notices sent to the debtor. This due diligence ensures the legal grounds for repossession are solid.

Next, we proceed with Proclamation and Seizure. We are licensed auctioneers, and our agents will issue a formal proclamation notice as required by the Auctioneers Act. This gives the debtor a final, legally mandated opportunity to settle the arrears. If they fail to do so, our trained field agents will proceed with taking peaceful possession of the asset. Our teams are experts in de-escalation and professional conduct. Once repossessed, the asset is transported to a secure storage facility. We then meticulously follow the Auctioneers Rules to dispose of the asset through a public auction, ensuring we obtain the best possible price to cover the outstanding debt, with any surplus returned to the debtor as required by law.

Cost Structure for Professional Repossession Services

The costs associated with asset repossession are structured to be recovered from the eventual sale of the asset. As a creditor, understanding this structure is key. The primary fees are governed by the Auctioneers Rules and include several components. An initial instruction fee is charged for opening the file and conducting due diligence. Following this, a proclamation fee is levied for issuing the legal notice to the debtor.

Once the asset is located and seized, costs include transport and recovery fees, which vary depending on the asset's size and location. Secure storage fees are also applicable and can range from KES 500 to KES 2,000 per day for a standard vehicle. Finally, upon the successful sale of the asset at auction, the auctioneer earns a commission on the sale price, calculated on a sliding scale set by the Auctioneers Rules. All these costs are itemized and deducted from the sale proceeds before the net amount is applied to the outstanding loan balance. Swipe Recoveries provides a fully transparent breakdown of all costs to our clients.