Released every month our debt collection blog contains news, stories and tips to keep you informed.
In Alexander, Arkansas, fire fighters were having lunch at a restaurant with their truck parked outside. In only a few seconds, the repossession company managed to take possession of the truck and started to drive it away. The fire fighters took chase with state troopers, only to find out the company that owned the fire truck wanted it back.
The fire fighters were able to remove all of their equipment from the truck.
The fire truck was repossessed on the basis of an "anticipatory breach of contract".
The original loan was sold to First State Bank, who are suing the person they bought the loan from - Graver - alleging a pattern of defrauding Arkansas cities.
Graver purchased the loan back and is apparently suing the city for breach of contract.
The fire department has 4 other trucks in can use to fight fires until this matter is resolved