Are you really that desperate to be a snitch? I mean, it's a matter between the lessee and the agencies seeking to repossess the vehicle (those being the finance company and the recovery agents). It's none of your business, and the best thing for you to do is to just stay out of it. If they're halfway competent repossession agents, they'll get to the car. If all else fails, the finance company - being the actual owner of the vehicle - has legal options at their disposal. Your intervention is neither wanted nor required, and I'm saying this as someone who has been in the repossession 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.
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?
as a repo
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.
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".
There is a possibility that you licenses could be suspended. If you are hiding the car from repossession, you technically are stealing the car. The finance company can contact DMV and have the registration revoked and report it as stolen. Give the car back. Nothing good ever came out of hiding one from the repo man. They WILL get it eventually.
Yes, you can be arrested for theft.
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.
He will report it as a stolen vehicle.
Yes and you will face up to 3 to 5 years for hiding it
Yes, afterall, the repo-car is still the legal property of the person who has sent the repo-guy to retrieve it.
Yes In most places hiding the car from the repo man is illegal. If he is sure the car is in there he can enter a storage place and reposes the car. But he is not allowed to intimidate or do violence to the person or property damage to make the repossession.
Yes. I find you, and there is your car too....
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
He will try to find out where you are hiding it if that is what you are doing.
No a repo person can not break into your home to repo your car. Repossession persons can not damage or destroy any property in attempts to take possession of a vehicle.
First you have to find the car, then you can repo it yourself or hire a repo company to do it. Email me if you need more help. Good Luck
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, a repo man can drive by a house in an undercover car. They employ various means to see where people are hiding their cars and are usually allowed to take them unless they are in a private garage.
Maybe the repo man was after something other than your car. Or, maybe the person was there to serve you with some papers.
to the home of the person who can't pay for his car.
yes this goes on your history report