For Those in Debt, It Might Be 'Too Late'

HARRISON TOWNSHIP, Mich., June 17, 2008— -- If you've got debt, Kent Colpaert and Jeff Henderson have likely got your number — and they will find you.

"By the time I'm knocking on your door, it's too late," said Colpaert.

"I have a job to do, and I'm going to do it to the best of my ability, and when I show up at your door, I'm taking it," Henderson said.

Henderson and Colpaert are "repo men" who want what you owe. And until it's theirs, no amount of pleading, crying or bargaining will stop them.

"We hear all the stories and all the reasons why," said Colpaert. "The stories are sad, but primarily we have a job to do, and if I don't get it done, someone else will."

Henderson repossesses boats, while Colpaert reclaims homes. In these hard economic times, banks have been handing them case after case.

"By the time they see me, the boat is going to be gone," Henderson said.

Henderson and Colpaert have had their share of ugly confrontations — Henderson says he's been shot at — but that's the exception, not the rule. The job is more of a cat-and-mouse game.

"Nightline" tagged along as Henderson confronted a woman who he says was chronically late on her boat payments.

"She has been late many, many times, several times over 30 days, four times over 60 days, and even twice over 90 days," Henderson said.

He wanted to know the location of the boat, but the woman told him the check was in the mail. Henderson gave her the benefit of the doubt … for the time being.

"Tomorrow morning I will contact the bank and talk to the adjuster over the phone," Henderson said. "I'll check to see if that payment has posted. Sometimes, it's the weekend and it may not, so I will give it another day."

In the meantime, there were plenty of other boats to grab. Henderson's repo targets have included CEOs, pro athletes, a Motown legend and a well-known televangelist.