A vehicle belonging to a Native American who resides on a reservation cannot be repossessed if 60% or more has been paid on the balance of the loan. Relinquishment or repossesson of any property belonging to a NA on reservation land, has to be voluntarily submitted in written form by the purchaser or by an order from the Tribal Court. Tribal Codes will vary slightly, but the basic codes apply on all NA reservations. See link to this answer page www.tribalresourcecenter.org
list 3 importance of voluntary organization
you enroll in a course you like that is voluntary
State Laws do NOT apply on Reservations, although, there may be legal recoprocity between the Tribe and the State government regarding some matters. Normally, no State legal action can be performed on Reservation without the consent of the Tribal Government much like one State cannot have jusrisdiction over another State... see extradition.
yes
It was voluntary in idea but trust me most of the kids felt compelled after being brain washed in school and elsewhere.
A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.
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.
NO
For Experian, a voluntary repossession will remain on your credit report for seven years from the original delinquency date of the debt.
Yes, there is no difference. A repossession is a repossession.
neither looks good on your credit.
Yes, but perhaps not as adversely as an involuntary repossession.
what are the legalities of voluntary vehicle repossession
a voluntary repossession is where you turn over the vehicle instead of us having to come get it from you. www.aerecoveryandtowing.com
7 years.
YES, on a CR, a repo is a repo.
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.