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Repossession

How hard would it be for a person to get a car back after a repossession?


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Wiki User
2015-07-16 18:17:46
2015-07-16 18:17:46

1st repo?? Pay the arrears and repo fees, have ins. coverage 2nd repo??? Most likely have to payoff the loan unless the lender is in a really good mood. Read your contract

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Hurt your credit and pride. Also it hurts your relationship with the bank. Try hard to make your payments and get back on track. You can't do anything without credit, so build it back up.

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No. The dealer (or bank that financed it)technically owns the car til it's paid for. If it's become a hard-ship for you, simply give it back. It becomes a 'voluntary repossession' for the person incarcerated, but that sounds like the least of their problems. Good luck. FYI, a repo is going to damage the borrower's credit terribly.


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