Repossession of Medical Equipment

For over 31 years, we at Midwest Lender Services have been providing repossession services to banks and other financial institutions. We are fully licensed and bonded and provide services nationwide.

You can rely on us to act on your behalf for repossession of medical equipment that was purchased by a loan or used as collateral for a loan. When the borrower has defaulted on the loan, the lender becomes owner of the equipment.

Medical equipment is often leased. Leased equipment can be repossessed if the one leasing the equipment has defaulted on paying for the equipment according to the terms of the lease contract.

Repossession of medical equipment is an invasive collection act and the financing institution that employs the repossessor is legally responsible for its actions. This makes it absolutely imperative that the company you employ for this action will act legally, ethically and responsibly. Midwest Lenders Services is that repossession company.

We recognize that repossession laws vary by jurisdiction. We are well-informed about state, federal and local laws and will make certain that all applicable laws are followed. If we believe there has been a problem with compliance with the law, we will consult with you before proceeding.

If special skills are required for repossession of medical equipment, we are able to provide them. For example, some medical equipment may require the skills of an electrician to disconnect it and pack it properly for transport. Some equipment is large and will need a special truck or van to transport it.

We plan ahead and take all measures possible to be certain the repossession process goes as smoothly and uneventfully as possible. We know how, through years of experience, to make certain that there are no wrongful repossessions.

It is important that the property is not damaged during the repossession process. It would be useless to go to the trouble to repossess property only to have it lose its value due to damage.

Midwest Lenders Services provides proper packing and transportation services. We securely store your property if you need us to we will also provide you a detailed report on its condition. We even provide photographs of the retrieved medical equipment.

We can also provide resale of the property. There is a large market for used medical equipment that mostly relies on repossessed items. If you determine that it is in your best interest, we are also a licensed auctioneer and can get bids for the property and arrange for the sale.