Our story begins in 1925 when William “Frank” Greenwood opened an auto body shop in Baltimore, Maryland after leaving the family farm in Amelia County, Virginia. Greenwood’s Garage was his escape from rural life and the start of what would become the Greenwood Group. Today, Frank’s grandson leads the corporate entity that includes Greenwood Recovery, Inc. and several related businesses. Contact us today at (410) 383-8000 to learn more about how we’ve grown to become the Mid-Atlantic’s premier collateral recovery service.
From Body Work to Towing
Frank Greenwood saw opportunity in the untamed streets of Baltimore, as inexperienced motorists learned first-hand what happens without any rules of the road. Accidents were commonplace, and the body shop stayed busy as tow trucks delivered early automobiles for repairs. Then an innovative employee equipped an old Mack truck to handle towing, and the focus shifted.
A Family Affair
The Greenwood family grew along with the towing business, and Frank put his three sons to work. Middle son Burt shared his father’s enthusiasm, joining the enterprise full time after earning a degree from Johns Hopkins University and serving two years in the Army. He began managing operations in 1956, following his first big win: landing a deal with a national auto finance company that needed help repossessing vehicles when debtors fell behind on payments. We were so successful in those early days that the lender set up an outpost in our office.
That strategic pivot eventually led to the formation of Greenwood Recovery as its own entity, along with other ancillary firms including our licensed title service and on-site auto locksmith.
Our founder, Frank, remained active and involved in the Greenwood businesses until his death in 1972.
More Than Repossession Services
As we developed relationships with lenders in the Baltimore area and beyond, Burt identified a growing need for a venue where banks could sell vehicles that had been repossessed. And in 1974, he and partners Ray and Elaine Nichols opened Car and Truck Auction of Maryland. Six years later, they launched Bel Air Auto Auction. Both are now part of BSC Auto Auction Group, but Greenwood no longer has an ownership stake — though our remarketing division still sells our clients’ assets there.
We sold our interest in the auctions in the late 1990s, when Burt developed amytrophic lateral sclerosis, also known as Lou Gehrig’s disease. He died of ALS in 2005, at age 75, but his legacy remains palpable — and not just in our offices. Indeed, Burt and other pioneers helped shape the recovery industry as we know it today. Now his son, Greenwood Group President Burt “Buz” Greenwood Jr., is following his example, serving on the American Recovery Association’s board of directors, for example.
Greenwood Recovery Today
Greenwood Recovery has become more than Frank Greenwood could have imagined, establishing a reputation as a national leader in the increasingly regulated repossession industry. Because we are committed to doing our jobs with integrity, our staff is licensed, bonded, insured, and regularly briefed on the latest rules — which we follow to the letter.
Still based in Baltimore, we serve a territory that includes eastern Maryland; Delaware; Washington, D.C.; and northern Virginia. Call our friendly staff today at (410) 383-8000 to discuss how Greenwood Recovery can put that professionalism to work for you and return value to your balance sheet. And don’t forget to check out our frequently asked questions to learn more about us.