A few weeks ago, my husband introduced me to a new-to-us reality show—Lizard Lick Towing. If you haven’t seen or heard of this gem of a show let me sum it up for you. It’s a reality show following the owners and employees of a repossession and towing company in North Carolina. It is, hands down, the strangest show I ever had the pleasure of watching.
For starters, people really don’t like having their things repossessed. But I did not know that some people took as far as those on this show. One of the owners, Ron, has been punched, stabbed, run over with a car and been victim to other assorted acts of violence. His wife, Amy, who handles the paperwork and administrative duties works behind bulletproof glass and a steel door (which one lumberjack kindly opened with a chainsaw). And their employee, Bobby, is usually a party to whatever Ron gets into. Oh, yeah. Let’s not forget the trailer that was set on fire so they could not take it or the survivalist who showed up with a grenade. Good stuff.
Then there’s the obligatory personal drama. As if a show where a husband and wife own a business doesn’t already breed drama, let’s toss in the husband’s BFF and his ex-fiancee who the wife hates more than a dog hates fleas (one of the bonuses of the show? Learning all kinds of new southern expressions). I’m telling you, this show is pure gold.
But there’s also a third layer to the show. It’s buried very deep, way below the pickup trucks and Harleys and tattoos but it’s there. That layer? Financial skills. The more I watch the show, the more I realize that there are hidden financial messages. For example:
- Always have a plan—when Ron and Bobby go to do a repossession, they always have a plan. They know how they’re going to approach the item being repossessed, they know how they’re going to handle the person or people, and they know their route in and out. A plan is crucial if they want to leave with the item and all of their body parts. The same applies to your finances. Whether you’re in debt or saving for a goal, you need a plan. You can’t achieve your end goal if you don’t. To formulate a plan, determine what route you’re going to use. Ask yourself what resources you have.
- Have the correct information—a repossession can task a drastically wrong turn if they try to repossess the wrong vehicle or piece of equipment. So before they repossess it, they verify the VIN or whatever other piece of information necessary to ensure they’re taking the right item. This is important for your money as well. You need to be sure of your balances, interest rates, terms, due dates, account numbers…everything involved in managing your money. Transposing the wrong account number or forgetting a due date can lead to unpleasant consequences.
- Backup is essential—Ron and Bobby almost always complete a repossession together. They know that it’s safer go in as a duo, especially if a problem arises (which, based on the show, it always does). They know that they have each other’s backs. And while they do whatever they can to handle a problem, 911 is always a quick phone call away if the situation gets really bad. This situation is a financial two-fer. First, don’t try to handle your money alone. Get a partner. Whether it’s a friend, a sibling or an anonymous message board, having someone to talk to works wonders. Second, When it comes to finances, your emergency fund is 911. It’s supposed to provide backup when things go horribly awry and you need rescuing. You may not need it but get it in order just in case you need to dial it.
- Be objective—Ron and Bobby understand that a repossession is not personal; it’s business. They are there to do a job, not to judge the person. They don’t let their feelings cloud their judgment or impair their ability to complete the task at hand. You need to do the same with your finances. Write down all the details and look at them objectively. Don’t let your attachment to your gym or cell phone or Whole Foods get in your way of your short and long term goals. If it helps, pretend that you’re not looking at your finances; pretend that they’re someone else’s and you desperately want to help that person. What would you tell her? Use that advice for yourself.
I never thought that there’d be TV show about a repo company. And I certainly never thought I’d watch a TV show about a repo company. Even more amazing is the fact that there’s actually something that can be learned from a TV show about a repo company. Who says TV isn’t educational?
Money Beagle says
That sounds pretty amusing. What network is it on? One of my new favorites has been Storage Wars on A&E where a group of people bid on a storage locker after getting to peek in it for a couple of minutes. You then see the winner getting to find out what they bought and if they made money or not. It’s very played up for TV and I don’t think happens that way in real life (I wonder how much of that is in your show) but it’s good mindless entertainment for when I’m doing some busywork.
Money Beagle recently posted…Debunking The Amazon Prime Pricing Myth
Jana says
It’s on TruTV, so you know it’s quality programming. I mean, Tru is in the network name!
Seriously, though, I think some of the personal drama stuff is played up for TV but I’m not sure about the repo stuff. Either way, it’s crazy entertaining. You cannot look away.
Travis @DebtChronicles says
Great analogies, Jana! I’m thinking there may be some financial lessons to learn from the people getting their stuff repossessed too.
Travis @DebtChronicles recently posted…Blog Reboot
Jana says
Oooh, a part 3! I love it!!! Thanks, Travis!
John | Married With Debt says
Is this show like Operation Repo (also on Tru TV I think)? Operation Repo is a fictional show made/filmed as if it were a real repo company that is followed around with cameramen (like Cops). I watched O/R until I found out it was fake. I looked at the LLTC website and they actually seem legit (or are at least trying very hard). I’ll have to check it out.
John | Married With Debt recently posted…Milestones (2011) and Goals (2012)
Jana says
I am just going to assume that it real because there is no way writers could come up with stuff this good. Like all reality, I’m sure it’s edited and a bit constructed but there’s no way this is fiction. Or at least that’s what I’m going to tell myself.
Hunter - Financially Consumed says
Wild. I rode shot-gun in a tow truck as it was out repossessing a car for the finance company I worked for. It’s a whole other world out there.
Hunter – Financially Consumed recently posted…What’s Your Experience With Private Student Loans?
Jana says
What was that like, Hunter? I’m assuming it was both scary and adrenaline enducing at the same time!
Jeffrey says
Sounds like this makes for a pretty interesting show (and I’m actually not surprised they created it). I’m glad screwing up financial decisions don’t have the same repercussions as screwing up a repossession might!
Jeffrey recently posted…Help! I’m Not Investing For Retirement!
Jana says
I know! You screw up your finances, you hurt yourself. You screw up a repossession, you can hurt others!
Christa says
I’ve seen a similar repo show, but it lacks the southern charm you’re talking about. I love how you tied it into finances!
Christa recently posted…Money and Relationships: Celebrating an Anniversary on a Budget
Jana says
Thanks, Christa! Which one do you watch?
Aloysa @ My Broken Coin says
It is difficult not to take repossession personally. It is your property that is being repossessed after all! 🙂 Loved the analogy. I am a huge believer in a plan B (a backup plan.)
Aloysa @ My Broken Coin recently posted…Reading Salon, December Posts and Traffic
Jana says
I get taking the repossession personally but I struggle with the gratuitous violence.
Dr Dean says
Yep, we say a lotta things differently down heah in thu southland…
good post!
Dr Dean recently posted…A Million Bucks? In My 401K? Ya Gotta Be Kiddin’!
Maggie@SquarePennies says
I haven’t seen that one, but I’m a real job repossessing things has got to be very dangerous. I like Pawn Stars, which surprises me. The characters are real, but they are somehow hilarious. It’s like Antiques Roadshow with a running joke. Love it! I’ve learned that people who walk into pawn shops are usually too lazy to find out what something is really worth and sell it where they’ll get the best price. The best part of the show is “Chumley.” He recently bragged that he read a book, once.
Maggie@SquarePennies recently posted…Cookies and Cream Frozen Pie (Low Calorie)
Thad P says
Very creative way to teach excellent finance lessons!
Thad P recently posted…Clyde-ism #2 | A Real Gift