You will probably never know the truth. looks like you "assumed" the notes from the owner and NOT the lender. Chances are that the owner was behind on the notes and that's why it was repoed.
No. Repossession is done when the vehicle was financed and the borrower isn't paying the loan.
Yes. If he has a repo order, it is no longer YOUR truck.
my work truck was repo and i retrived my truck back but my belonging are missing how can i get them back
Probably not. He'd probably ask you to get out of the car.
drive it away
The "penalty" is a repo on your CR.,higher interest rates on future loans, and a possible judgement/wage garnishment against you. A repo is a repo is a repo in credit files.
Its not as easy as it seems. Is your truck gonna handle the work SAFELY? REPO insurance is sky high.
Yes, if you are not making the payments the bank can repo your truck.
with a tow truck or a key.
A repo man uses tools that can break locks and chain up moveable assets. A common tool for every repo man is the tow truck. The truck needs chains, lifts and a pulley system to work effectively.
There is no company with the name "Repo Truck", but "repossession" of a vehicle simply means the financial lending company "takes back" the vehicle, because monthly payments on the vehicle have ceased.
Operation Repo - 2007 Monster Truck 11-10 SUSPENDED was released on: USA: 16 April 2012