The Volvo was retrieved from the side of the Beechworth-Wodonga Road after its driver swerved to avoid a loose trailer while transporting students home on Wednesday afternoon.

Rutherglen tow truck operator and heavy vehicle salvage specialist Chris Bourke spent two hours at the Leneva site recovering the bus early on Thursday afternoon.

The road was reduced to a single lane with traffic controllers and a 40km/h speed limit while he worked.

Mr Bourke said there was severe damage to the driver's corner of the bus with the dashboard and the floor near the pedals pushed back.

"There is a lot of undercarriage damage as well," he said.

"It was a stumpy log set up at the front of (where the bus came to rest)."

Mr Bourke said the extent of the damage meant the bus may be beyond repair, but that would be dependent on an insurance assessor examining the vehicle.

The bus, which was taken to Mr Bourke's Rutherglen premises, belongs to Johnsons of Barnawartha.

Bus driver Katrina, who was at the retrieval, declined to speak to The Border Mail.

Tallangatta police officer Senior Constable Ben Stewart praised her driving skill in evading the trailer without any of her 19 passengers suffering serious injuries.

He said no action would be taken against the car driver whose tandem trailer broke away due to a mechanical fault with the tow link.