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Repossession
Home Equity and Refinancing
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How long does it take for a bank to get the repossession process started?

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Wiki User
2015-07-16 18:27:50
2015-07-16 18:27:50

About an hour. Just long enough to fax 3 pages. They do it every day so they wont have to find out how to go about it. Get your stuff out of the car. Good Luck

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The repossession process of a car usually takes about 6 months

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Of course, call your bank and pay them what you owe and they will let you have it back as long as you have not waited so long that they have sold it to someone else.

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There will be a long waiting period for the bank to send you a notice. You can call the bank for faster answers. There will be a long waiting period for the bank to send you a notice. You can call the bank for faster answers.

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Normally a repossession stays on your credit rating for 7 years. If you are repaying the loan, talk to the bank and see if they have reported it. They may or may not have.

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The repossession stays on your credit report for 7 years.


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