Compliant and Professional Repossession Services
When seeking licensed repossessors in Nairobi, it is imperative to engage a firm that operates strictly within Kenya's legal framework to avoid costly litigation and reputational damage. Swipe Recoveries Experts Ltd is a premier, fully licensed firm providing professional asset repossession services for banks, microfinance institutions, and SACCOs. Our team is comprised of licensed auctioneers authorized by the Auctioneers Licensing Board to handle the entire repossession process. From issuing the legally required proclamation notice to the secure attachment of assets like vehicles and machinery, we ensure every action is compliant, documented, and executed with the utmost professionalism.
The Indispensable Role of Licensing and the Law
In Kenya, the act of repossessing an asset due to a defaulted loan is not a simple task for just any debt collector; it is a legal process governed primarily by the Auctioneers Act (Cap 526). This law explicitly states that only a licensed auctioneer has the authority to proclaim and attach a debtor's movable property. Engaging an unlicensed individual or group to repossess a vehicle or equipment is illegal and can lead to criminal charges of theft and malicious damage to property. The debtor can sue for significant damages, turning a simple recovery effort into a major financial and legal liability.
All our repossession agents are licensed and gazetted auctioneers who have met the stringent requirements of the Auctioneers Licensing Board. This ensures they are well-versed in the legal procedures, including the critical timelines for serving notices. For instance, after a default on a hire-purchase agreement or chattel mortgage, the repossessor must first serve a proclamation notice giving the debtor a set period to remedy the default. Only after this period has lapsed without payment can the asset be attached. Adherence to this due process, as stipulated by the Act and reinforced by court precedents from institutions like the Milimani Commercial Courts, is the cornerstone of our repossession service.
Our Repossession Procedure: A Step-by-Step Guide
Our procedure for asset repossession is designed for efficiency, transparency, and full legal compliance, protecting our clients from any potential backlash.
The Swipe Recoveries Repossession Protocol:
1. Client Instruction & Document Verification: We begin by receiving a formal letter of instruction from you, the creditor. We require supporting documents such as the logbook copy (for vehicles), chattel mortgage or hire purchase agreement, and a detailed statement of account showing the default.
2. Issuance of Proclamation Notice: Our licensed auctioneer prepares and serves a Proclamation of Attachment to the debtor. This legal notice gives the debtor a minimum of seven (7) days' notice to pay the outstanding arrears. This step is a non-negotiable legal requirement.
3. Asset Tracing and Monitoring: If the debtor is hard to locate, our skip tracing team is engaged to find the current location of both the debtor and the asset within Nairobi and its environs. The asset is monitored discreetly in preparation for attachment.
4. Attachment (Repossession): Upon the expiry of the notice period without payment, our field team proceeds with the physical repossession of the asset. The process is conducted peacefully and professionally. If resistance is anticipated, we can arrange for police assistance to ensure a safe and lawful operation. An immediate inventory and condition report of the asset is created.
5. Secure Storage and Notification: The repossessed asset is transported to a secure, insured yard. We then issue the statutory notification of sale to the debtor, providing them a final chance to redeem the asset by clearing the loan and associated costs.
Debt Recovery & Auctioneering Coverage in Nairobi, Kenya
Swipe Recoveries Experts Ltd provides commercial recovery, skip tracing, and auctioneering services across Nairobi, Kenya and all 47 counties in Kenya.
Understanding the Fees of Licensed Repossessors
The fees charged by licensed repossessors in Nairobi are regulated by the Auctioneers Rules to ensure fairness and prevent exploitation. As a compliant firm, Swipe Recoveries adheres strictly to this official fee schedule.
Key costs involved in the repossession process include:
Instruction & Proclamation Fees: A fixed fee for drafting and serving the initial legal notices. This can range from KES 5,000 to KES 15,000 depending on the location and complexity.
Attachment & Repossession Fees: This fee is charged for the physical act of repossessing the asset. It is often a fixed amount, for example, KES 10,000 to KES 30,000 for a standard motor vehicle within Nairobi.
Ancillary Costs (Disbursements): These are third-party costs that are billed back to the client or recovered from the debtor. They include towing charges (e.g., KES 5,000 - KES 15,000 within Nairobi), secure yard storage fees (e.g., KES 1,000 - KES 2,500 per day), and fees for tracing/skip tracing if required.
We provide our clients with a clear and itemized fee note for all services rendered. This transparency ensures you understand exactly what you are paying for and that all charges are legally justifiable and recoverable.
