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
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.
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.
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?
general rule NO, but check with your state to be sure
is concealing a car from repossession a felony in georgia?
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 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.
The repossession process of a car usually takes about 6 months
Yes. If you default on your car loan you will remain liable for the debt.
Of course it is. You voluntarily turn the car in for repossession. It will stay on your credit report for 7 years.
A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.
""Car was reposssess."" You answered your own question.
You might be able to get a personal loan after a car repossession. However, you would get the loan at a very high interest rate one the repossession is on your credit report.
What is a repo? Repossession occurs when a contract is in default and the lender takes possession of the secured collateral.IF your situation doesnt fit that description, call an attorney NOW. Roosta, yes I meant "repo" to mean repossession. The lender had my car for 3 days. I paid what I owed to get my car back and paid for 1 1/2 years. I still own the car. It has been paid in full for 2 years. But when I made the last payment in Dec of 2001, they list it as a repossession. But the so called repossession happened in Feb or 2000. Like I said they had my car for 3 days. I didn't realize they had it listed as a repossession until recently when I tried to get some credit for a new car. I have filed a dispute with each credit reporting agency, but I have to wonder if they will take if off.
Yes. Most lenders will auction a repossessed car and sue the person who financed the car for any balance or fees still owed.
Possibly, but they can certainly prevent you from interfering, as it is no longer your car, hence the repossession.
In GA Can you get your car back after a repossession if you file chapter 13 bankruptcy
The tow/repossession company has to notify the police of the repossession so the car can't be reported stolen..
The repossession stays on your credit report for 7 years.
What makes you think you can just return it. You can't. You bought it, you own it. Now if you are talking about doing a voluntary repossession, of course it will ruin your credit for 7 years. A repossession is a repossession, voluntary or not.
You do not want your car repossessed for any reason! it will ruin your credit, you will still have to pay for it once it sells for less than what you owe at auction, and eventually a repossession catches up to you! What you can do to save your car is contact *CAR HELP USA* tHIS company will lower car payments, lower interest rates, get you current with your auto loan, stop repossession, refinance, and save your car! You will need to act quickly as a volunrarily repossession does not answer ANYTHING!
When you purchased the car, you may have received a lien title from the state. This is not a clear title of ownership. The lender in essence still owns the vehicle, at least part of it. It is held in security for the loan. If you are a repossession company or agent, you will be required to have an order of repossession. But, if you are a repossession company or agent, you should already know this.