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Depends. Are you receiving the car or are you selling the car.
Repossession = again
Repossession = ownership
Repossession = gaining ownership again
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∙ 15y ago
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What to say when you want to do a car repossession?
If you are giving up your own car for repo then you tell who you financed the car with you want a voluntary repossession. It still looks bad on your credit, but not as bad as a regular repo does
Does repossession show on your credit report as soon as the car is taken or after it is auctioned?
It can show at any time. A repossession is compleated as soon as the car is picked up so it does not matter what happens after the repossession it still did happen.
Why is the bank reporting a car as a repossession when it was stolen and totaled and you are still paying for it?
Because the lender repossessed the car from where ever it was after being totaled.IF you had gotten the car back after it was totaled, it couldn't have been a repossession.
If you are 3 months behind on your car payments can you still buy another car and let the other car go into repossession?
no
Where do you get car repossossion permit?
who is allow to do Vehichle/car repossession? when is a vehichle/car repossession not allowed? whats the minimum insurance needed for car repossession?
How do you write a car repossession letter?
How do you write a car repossession letter?
Do you have to have a repossession license to repo a car if you work for or own the car lot that is repossessing it?
general rule NO, but check with your state to be sure
Is concealing a car from repossession a felony in Georgia?
is concealing a car from repossession a felony in georgia?
Can a repossession still be reported to your credit if the company has since sold the car?
Yes, because reguardless of what the company did after they took back the car, the fact still remains that it was repossesed.
Turning in a car prior to reposession?
Turning in a car prior to formal repossession activity is still a repossession. It differs only in the fact that it is voluntary and may not affect your credit quite as adversely. It does demonstrate a certain level of responsibility.
You returned a car to the dealership and its still showing on your credit?
Of course it is. You voluntarily turn the car in for repossession. It will stay on your credit report for 7 years.
If your car is repossessed and the person who cosigned for you files bankruptcy are you still liable for the repossession?
Yes. If you default on your car loan you will remain liable for the debt.
