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Answered 2005-04-29 02:42:06

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

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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.


Yes, there is no difference. A repossession is a repossession.


For Experian, a voluntary repossession will remain on your credit report for seven years from the original delinquency date of the debt.



Yes, but perhaps not as adversely as an involuntary repossession.



a voluntary repossession is where you turn over the vehicle instead of us having to come get it from you. www.aerecoveryandtowing.com


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.


It will save you some money BUT you will still have a repo on your CR.



No, if the vehicle is subject to repossession due to a default in the lending agreement, it is irrelevant whether or not the parent agrees to the action.


There is no specific time limit for a repossession in Florida. Florida law does not require a creditor to give notice before starting a repossession.




NO, they can attach a lien to be paid FIRST if/when the home is sold.



Any repossession will negatively impact your credit. Organizations using the credit report do not differentiate between voluntary and non-voluntary. Rather, the organizations see that you were not responsible with credit and what you purchasd needed to be taken away. Generically, a repossession is considered the same as a chargeoff or writeoff, so the impact on the credit score may be anywhere from 50 to 200 points, depending on one's personal credit situation.



it's all the same whether you turned it in or they picked it up


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A sample copy of a voluntary mobile home repossession letter will have a number of tips which can be used for drafting your own. This will include details of the property in question, ownership details, location and so much more.


there is no such arrangement possible. Non voluntary euthanasia is execution.


Yes, a voluntary foreclosure (deed in lieu of such) is a foreclosure just as a voluntary repossession of a vehicle is a repossession. All the same penalties/fees, recovery of debt laws apply and the information entered on the debtor's credit report will be as a foreclosure regardless of the circumstances involved.



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