Brent, who held a gun on you and made you sign the loan papers?? You got ripped off by your own self. Anyway, if you let it go back, the lender will sell it at auction for MUCH less than you owe. Example; u o 10K,car sells for 3K, balance due 7K. The lender will get a judgment for the balance due and then the collection fun begins. IF there is any way possible, sell the car for all you can get, borrow money to go with it and pay it off. That will leave you with a smaller note to pay and no collection hassles. Good Luck
BTW, your credit will also be ruined for 7 years.
YES, on a CR, a repo is a repo.
In my O' pin ion it hurts you in places you may not know you have.
a lot and it will hurt your credit for 7 years
YES it hurts for about 7 years.
A repo is a repo is a repo.
Yes, there is no difference. A repossession is a repossession.
A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.
Depends. Are you receiving the car or are you selling the car.Repossession = againRepossession = ownershipRepossession = gaining ownership again
No you cannot remove a repossession off your credit report if your cosigner has a judgement on the repossession.
A repossession hurts your credit score whether it is voluntary or not. The creditor will report late payments, a charge off status, and a balance if one is owed. A repossession may hurt your credit score anywhere from 60 to 120 points.
Wrongful repossession insurance??? Coverage for when the Repossession Agency wrongfully recovers an asset for a myriad of reasons.
I only know about the state of Massachusetts. And yes in our state they have one hour to report the repossession to the police department in the town of which the car was taken.
I am a repossession agent in Virginia it takes 2-3 months of not paying before the repossession status occurs.AnswerI am a repossession agent in Virginia it takes 1 missed payment then repossession status occurs.
A repossession will remain on your credit for seven years, which will decrease your credit score. You should work out a payment arrangement with the creditor to avoid it.
How do you write a car repossession letter?
A repossession is a serious negative and will drop your scores.
Repossession of what? Who? The repo agent?
How much do repossession agents commonly make?
neither looks good on your credit.
who is allow to do Vehichle/car repossession? when is a vehichle/car repossession not allowed? whats the minimum insurance needed for car repossession?
In the state of California, the lender of a repossession may only charge fees that it incurs and that are in the contract. If the lender pays for the storage or houses the repossession, then yes, the lender is allowed to charge both a repossession and a storage fee.
You will receive notices that your payments have not been received, making your auto subject to repossession, but you will not receive a date and time of the repossession.
To start a repossession business you must file the appropriate business license. Many repossession businesses also have insurance and a bond for their business.
As far as I know there is no statute of limitation on auto repossession in any state. Check with your state Attorney General to be sure. I will post a link for you to read. Repossession should be your last resort. Hiding a vehicle from repossession is a crime in some states. The consequences of repossession are always bad for you.
The repossession stays on your credit report for 7 years.