0
Can you stop some one from calling from a voluntary repo car from 1999?
Wiki User
∙ 10y ago
Are you talking about a collection agency? You need to consult an attorney on this, as statutes of limitations vary by state.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
Is it better to do a voluntary repossession?
It will save you some money BUT you will still have a repo on your CR.
In Georgia should you do a voluntary repossession or just repossession?
The second to last sentence should read - Never will a voluntary repossession cost you MORE than a forced repossession. A repo is a repo. Voluntary Repos will, in most cases, save you money due to the cut in fees associated with the repossession. In some cases these fees will not be any less and the cost of a voluntary repo and the cost of a forced repo are the same. Never will a voluntary repossession cost you less than a forced repossession. Either way, voluntary repossession is the decision I would make, due to the possibility of a lesser cost.
What happens to your credit with a voluntary repossession?
A voluntary reposession reports on your credit report as a loss. The car company with take the car back and credit a portion of the balance which the owner/leaser still needs to pay on. The creditor will place the "voluntary Reposession" on credit bureau. All in all it will be reported as a charge off debt. If the original owner/leaser doesnt pay the remainder he/she can/will be collected from and could face legal action. A repo is a repo voluntary or not. Ruins your credit for 7 years. What generally happens is that it will be reported on your credit as a repossession. When you go for financing on something else, the repo will pop up and the potential lender will call the lender who reported the repo. When they find out it was a voluntary, it may actually lessen some of the blow of having a repo. But, yes, a repo is a repo.
What can a repo driver do Reposession driver calling all your friends?
It isn't unheard of for a repo company to call your friends to try and find out where you and your car might be. Some people try and hide their car from a repo company so that it can not be repossessed.
What if you have a car for repo and they wont come and get it when you tell them to?
Some creditors will not do voluntary repo's because the collateral is not worth what the repo process costs them. I do recommend that you send them a letter certified stating you request the vehicle be picked up by a specific date and you will not be responsible for anything that happens to the vehicle after that date.
If you voluntary repo 1 of your 2 cars in Louisiana when would you be able to buy a home if you keep paying your other car and everything else on time?
That depends on the lenders qualifications for a home loan. Some will, some wont. The repo is on your credit.. voluntary or not go down talk to a good home loan person and find out what they think.Don't forget the bank will still come after you for the balance on the car loan plus fees etc.so that too will show up on your credit.
If have a voluntary repossession in the State of California are you still liable to pay off the loan?
In California, yes. In some states, no (i.e., Texas). There is no legal difference for deficiency balance between voluntary and involuntary repossession (it should cost less to just pick your car up than it does to have an involuntary repo, which would save you some money if you are going to pay off the deficiency balance). However, you might be able to come to an agreement with the lender to make reduced payments and keep your account current and your credit good. This is all assuming the lender is not able to sell your car for as much as you owe them. If they sell it for more (including costs of repossession and sale) then by law they must refund the difference to you. If you think about what that would cause IF it was true, you would knnow the answer. Did you read your contract??? If you were a LENDER, would you loan money in a state that didnt allow you to collect the balance owed if the debtor did a Voluntary repo???? That would only serve to drive up the costs to those debtors would DIDNT do a voluntary repo. ??YES.
How do you use voluntary in sentence?
The company sponsors the charity drive, but participation by employees is voluntary. Some staff meetings are mandatory and others are voluntary.
What happens when you have a car loan and you cant pay it?
It gets repossessed. You can contact the lender and see if they will do a voluntary repossession where you give them the car or they will at some point do an involuntary where the repo man shows up and takes the car. Answer Wash the car and show up at the dealership. Get a ride home.
Is operation repo real?
No!!! Operation repo is prescripted and practiced just like any other tv show. The cars they repo are purchased especially for the show and some are even donated.
When can they repo your car after a missed payment?
It differs by states. Some aloow 10 days ,some until the lender makes a sale on the repo. Check with a local attorney.
Can a felon be a repo man?
Some states do not allow a felon to be a repo man. Other states do allow them to be in this position with the correct licensing.
