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that must be the dumbest question i have ever heard.......um take it from yourself w/out yourself knowing..(dumbest answer I've given)
That is a dumb answer, but not a dumb question. There are proccesses that you must take. I would start by looking at (yourstate).gov and check your laws. You may only need the title and proof of non-payment in some states, and a notorized letter in others.
Wiki User
∙ 12y ago
Wiki User
∙ 12y agoIf you are going to give your car back you can take it to a branch if "boa" Bank of America fied your loan drop it in the parking lot and give the manager the reg and keys or take it to the dealer you got it from. and walk away if you lender has told you not to to that DO IT there is nothing they can do about it it will show on your credit a vol repo if they sent a agent to get it it will read a invol repo. this is te adult way to do. good luck
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Can i be arrested if you don't return a car in repossesion?
Yes. You can be charged for auto theft, and you can be jailed.
How many points do you lose from your credit score from a voluntary vehicle repossesion?
The same as an involuntary; do not let anyone tell you different. AND they can still come after you for the balance and fees.
How long does an auto repossesion stay on your credit report?
Negative reports on your credit score remain on your report for seven years.
May you get your car back for voluntary repossesion?
When you voluntarily surrendered your vehicle for repossession, you signed a voluntary release form. The probability of you redeeming your vehicle is extremely remote now. It is possible that if you attend the auction where it is being sold, you may be able to repurchase it though.
What are the release dates for Repossesion - 2013?
Repossesion - 2013 was released on: USA: 13 August 2013 (internet)
What actors and actresses appeared in Repossesion - 2013?
The cast of Repossesion - 2013 includes: Ashley Campos as Darlene
If you do a voluntary repossession on your auto can your house be taken by the bank if you have no equity in it?
NO. They can't take what you don't have.
You live in Florida you bought used car with an APR of 16 high monthly payments you have had the car for a year and you can not afford payments anymore Without ruined credit how can you get rid of car?
You have to sell the car. If you give it back, it will still look as a repossesion...a voluntary repossesion. You do not want someone to take over the payments,as there is no guarantee that the payments will be made on time. Sell the car or try to refinance the balance, it is the only way. Good Luck..
What is the penalty for giving a new car back to the creditors because you can't afford it and really do not like it?
Your credit score will go down. Answer. This is known as a voluntary repossesion. It is not very different from a involuntary repossesion. You will ruin your credit score and also will not be eligable for other auto financing anytime in the near future (if you do get approved for another vehicle in the next few years it will be at a ridiculous intrest rate... Like 26%) the best bet is to talk with your dealer to try and back out of the deal or to sell the vehicle you are dissatisfied with. Your credit history will probably indicate a reposession..this lasts for at least 7 years. The creditor may also sue you for any defeciancy balance once your car is sold at auction. It can be very difficult to attain auto financing once this happens.
Is it a crime to drive a truck that in repossesion status in the state of TN to another state to another state?
Yes. Be very careful! You can be charged with auto theft. You are depriving the legal owner of the vehicle of his property and are converting it to your own use.
Private property repossesion?
What will happen when your property is auctioned off?
If you voluntary turn back in a financed auto and the auto has been in an accident and you had no insurance coverage what are you libel for?
You are liable for everything. Fixing the car, paying for the car (the balance of the contract) and repo fees.
