Repossessing services are like any business. When hired to do a job, they will get a lot of repeat business if they are timely, reliable, responsive, and professional. Governments and private lenders will use repossession if they are owed money and nobody's paying up –– such as tax liens or foreclosure.
The two main items up for collateral in loans are vehicles and homes. If you're starting a business, the personal guarantee often takes the form of a line of credit against the equity in your home. With payday loans, which people use to help them get by until the next paycheck, you have to put up the title to your car as collateral. If you don't pay back the amount you borrowed plus the exorbitant interest, they will gladly send a repo man to repossess your car. In fact, one of the main purposes of many auto towing companies is to repossess vehicles.
Repossession is also a consequence of default on a home mortgage. Not only will this damage your credit and even plunge you into bankruptcy, but you will lose all the equity you might have built up in the house you were hoping to own. However, this is not a happy scenario for the bank either, because when they foreclose on a home, they have to sell and hope they recover enough money to break even.
The lending agent's company granted you debt to finance a home purchase, but they have claim to your home as a way to compensate them when you default. That's when they go to the repo man for assistance. Because the repo man just wants to get paid like everybody else, he will probably not delay, and he might bring law enforcement along to expedite the process.