If you feel that it is your duty or obligation to do this, a call to whoever holds the note for the car will be sufficient. If you do not know who the finance people are, in some states your can find this information from the name and / or plate number. Sometimes you can call the police and get guidance from the non-emergency number. And, if not, it probably is not your business.
Do they? NOT usually. CAN they?? yes, if you convince them to. reporting a repo is reporting a fact. The repo DID happen. They report the payoff. That is a fact also.
as a repo
IF the lender posts a repo on your CR, you have one. You will have the repo on your credit report, but it should also show up as "redeemed".
He will report it as a stolen vehicle.
7 years from the date of repo.
It is up to the LENDER to report a repo. Usually they DO report it and it stays on your CR for 7 years.
Yes. I find you, and there is your car too....
ask someone who knows
That act in itself isn't a crime. However, if you tell a repo agent you don't know where the car is, then the repo agent will report the car stolen on behalf of the finance company (the rightful owner of the car).
as a repossession
Stolen?? NO. Report you for hiding the collateral??? Maybe. Cars havent fell off the face of the earth since CC found out it is ROUND. Someone knows where that car is.
Perhaps, it depends on the repo company's policy.
You can get the free car history report from car analytics. Here you can get all the car hidden details instantly.
IF the loan is in DEFAULT that has the car as collateral AND the LENDER issues a repo order, YES, the repo man can take the car from a 3rd party in possession.
Considering that the LENDER will be the one to report it as a "repo", wouldn't it be best the discuss it with the LENDER?
A creditor can report a car as repo and not correct it unless you call them. If it not their responsibility to make sure your credit report is right, it is yours. If you contact them, they must fix it.
yes this goes on your history report
About the same as any repo. The impact is that you couldn't complete the agreement for whatever reason. Same as a repo. A repo is a repo is a repo. That is correct, there is no difference in voluntary and involuntary. Stays on your credit report for 7 years. Don't let it happen to you. It is not that bad ....in fact you can probably get another car just at a higherinterest rate... besides someone has to keep wonk and clay in business.
Most police depertments require repo companies to report their tows, in order to avoid owners from reporting the car as stolen. You local police department should have the plate number on file as a repo.
I would hazard a guess that he contacts the finance company first.
That's theft. You need to file a report with your local police.
Paying the car off was good but having to repo it to get it paid off was BAD or negative. the lender did report that it was PIF,HUH?? So they reported the good and the bad.
It's resold to someone else.
IF you are the REGISTERED OWNWER, NO. You cant steal your own car. They can REPO it.