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A repo is a repo is a repo.

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โˆ™ 2005-03-30 13:17:38
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Q: If you do a voluntary repo and get another dealerships car will that hurt your credit as bad as not making any payments for a repossession?
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Related questions

If you are 3 months behind on your car payments can you still buy another car and let the other car go into repossession?

no


Auto repossession laws in Nevada?

In the state of Nevada, if you do not make payments on a car you are buying, it can be repossessed with no notice given to you. Once repossessed, you will still be liable for all further payments even if the car is sold at auction to another buyer.


If you had a repo in the past can you still buy another car?

Yes, this is not only possible, but if you were responsible and surrender the vehicle for repossession it can be quite easy. I have had both a voluntary repossession as the result of a BK, and a voluntary lease surrender for the same BK. Since that time, long, log ago, I have had many vehicles, and many vehicle loans. At first I of course paid higher interest. But even that reduces with time and a good history.


What car dealerships are trustworthy?

A good way to find car dealerships that are trustworthy is to ask people you know that have bought cars from dealerships. Another way is to read reviews about the dealerships online and see what compliments and complaints that people have.


What are the other names for voluntary muscle?

another name for voluntary muscles are skeletal or striated muscles.


What is another name for a voluntary muscle?

Voluntary muscle is skeletal muscle.


Can a dealer repo your car over hearsay from another party?

No, the person(s) who signed the purchase contract would need to default on payments or other stipulations such as not keeping the vehicle adequately insured before a legal repossession could occur.


What is voluntary exchange?

A voluntary exchange is when someone gives another something of value willingly. When you purchase items from the store it is considered a voluntary exchange.


Be Smart and Avoid Repossession?

Repossession is something that happens when you aren’t able to make your payments. If you can’t pay the bank for whatever loan you took out, and if you are missing payments to them, they can come and take the property or items back. Using a loan or a credit card to make a huge purchase is good for you, because you are going to be able to purchase something like a house or a car, which you probably wouldn’t be able to afford otherwise. However, there is a problem that goes along with this. The bank has the ability to repossess the items, which means that they can come in and take whatever you used their money to buy if you aren’t making payments. So, you need to make sure that you know how to avoid repossession. There are many things you can do to avoid repossession. This includes selling or renting back your items, so they remain your items and you can remain in your home. Organization is the key, so you need to know how much you are going to have to pay and when each of these payments needs to be made. Being organized can mean that you’ll never miss a payment due to forgetting about it. You will feel more in control of your finances and feel better overall. Another way to avoid repossession is to keep the lines of communication open with the bank. If you are missing payments, or if something has happened and you are not going to be able to make your payments, you should contact the bank and talk to them about it. If repossession is threatened, the best thing to do is to contact the bank and pay whatever it takes for you to keep your possessions. This is going to allow you to keep your property, but is also going to keep repossession off of your record. No one wants to deal with repossession, and no one likes to admit that they can’t pay for what they have. However, most companies are willing to work out payment plans to help you, so make sure to tell them about your situation before just hoping it goes away.


What are the other names for voluntary muscles?

another name for voluntary muscles are skeletal or striated muscles.


If you file bankruptcy will it also erase a vehicle repossession on another person's credit report?

It doesn't erase anything on your own credit report....just adds to it, why would it change someone elses? It adds that you are a bankrupt as well as having missed payments and had a repossession. A credit report simply reports what happened in the past....what ever you do now does not change it...you live with the history you created.


What are the repercussions of an automobile repossession?

First off you will be required to pay the repossession fees unless you voluntarily turned the car in. Secondly you will be required to pay the deficiency. The deficiency is the difference in the amount the lender sells the car for and the amount you owe. Let's say you owe $10,000 and they sell the car for $8,000. That leaves you owing the lender $2,000. Thirdly this repossession will be placed on your credit report and will stay there for 7 years. Repossession should be the last resort after you have talked to the lender and done all you can to avoid this. Sell the car to another individual even if you have to sell it for less than it is worth, then pay the lender the deficiency out of your pocket to avoid repossession. Have someone take over the payments. Whatever it takes to avoid this.


Will your insurance go up if you voluntarily give up your car?

If you give up your car, cancel your insurance, as you don't need insurance if you don't own a car. If you are talking about a voluntary repossession, the answer, is possibly, on another car. A repo is a repo, no matter if it is voluntary or not. Your credit will be damaged for 7 years, and this may effect you insurance rates. Don't do it or let it happen. Contact the lender and work something out if possible.


Can you file chapter 7 when you are late on car payments?

Yes, but a BK will only, at most, delay a repossession. A chpt. 7 isn't really a way to pay back arrears and its possible the creditor can get a relief from stay. Moreover, its not advisable to file a chpt. 7 merely over late car payments, as you will be prevented from filing another chpt. 7 for a few years.


Can my car be repoed because I don't have driver license?

No. Repo (or repossession) occurs only when payments are not made on a car loan, or if a collateral conversion is done by a lender with whom you have another unpaid loan, or if the courts permit a collateral conversion in the event of an unpaid judgment.


If you can't afford a car any longer is it best to take it and turn it in or let them come and pick it up.?

It's slightly better to take it and turn it in. This is called a voluntary repossession.It's still a repossession and will show up as such on your credit report, but you'll save a little bit of money (typically $300-500), since the lender won't have to hire someone to go out and take it, and they are entitled to try to recover this cost from you.Another advantage of a voluntary repossession is that it gives you some control over the exact timing. If you just start missing payments, they could come get the car at any time, which may leave you stranded somewhere unexpectedly. If you call and inform the lender you're bringing the car in on Saturday morning, they're likely to say "Okay, that works for us," and this allows you to plan for a means of transportation home instead of having to scramble to come up with something on short/no notice.Finally, you probably will realize you can't afford the car some time before you actually are forced to miss a payment. A repossession alone looks marginally better on your credit report than a history of late/missed payments followed by a repossession.The best option, assuming you have time to do it, may be to sell the car or trade it in on a cheaper vehicle. If the value of the car is less than what you owe, you'll have to come up with the difference yourself, but this is by far the best for your credit score, since it doesn't count as a repossession but as a payoff (which may even improve your credit).


If your husband decides to voluntary turn in his car voluntary repossession would this affect your credit if it's only in his name?

No it would only effect you if you had originally co-signed with your husband when he got the car to begin with.......Now, the only way it would hurt you is if you guys try to get another car or a house or anything of that nature, but you individually by yourself are not effected, but when you try to do something together with your husband, then YES!! This will hurt you big time


Can they repo another vehicle for ransom my daughter was told this by the repo man?

No. The only vehicle that can be repossessed is the vehicle for which the agent has a valid order of repossession, OR in some cases, a vehicle the agent encounters (such as reported by a camera car) in the process of locating another repossession. Anything other would be wrongful repossession or possibly grand theft auto and extortion.


Can a vehicle repossession agent take another car if the original is no longer available?

No.


Where could I purchase a used mini-van?

Check local car dealerships. Many will have a van or two that you can test drive. Another advantage to dealerships is that they can finance your purchase.


What is another name for skeletal muscles?

Striated voluntary


Another name for voluntary muscles?

skeletal, or striped


What is another name for voluntary muscle?

Striated muscle


You have had a car on finance for 20 weeks and carnt afford it can you send it back?

Of course you can send it back, but it will be termed a "voluntary repossession" and will still impact your credit as if a repo-man came to your door. It will also limit your ability to find another good car for a payment less than you already cannot make.


How can you return a new car that you have had for only two weeks without penalty?

Once you sign the papers, it is yours as soon as you drive it off the lot. You cannot return it and you cannot simply give it to the bank and get out of the loan - that is called voluntary repossession and it will hurt your credit. Sorry, there is no good news for you. The only thing you can do is sell the car for what you owe to another person or beg the car dealership to buy it back. Once you sign the papers, it is yours as soon as you drive it off the lot. You cannot return it and you cannot simply give it to the bank and get out of the loan - that is called voluntary repossession and it will hurt your credit. Sorry, there is no good news for you. The only thing you can do is sell the car for what you owe to another person or beg the car dealership to buy it back.