A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.
The second to last sentence should read - Never will a voluntary repossession cost you MORE than a forced repossession. A repo is a repo. Voluntary Repos will, in most cases, save you money due to the cut in fees associated with the repossession. In some cases these fees will not be any less and the cost of a voluntary repo and the cost of a forced repo are the same. Never will a voluntary repossession cost you less than a forced repossession. Either way, voluntary repossession is the decision I would make, due to the possibility of a lesser cost.
NO. They can't take what you don't have.
call the finance company and tell them that you want to do a voluntary repossession and they will take it from there.
Yes, there is no difference. A repossession is a repossession.
A sample copy of a voluntary mobile home repossession letter will have a number of tips which can be used for drafting your own. This will include details of the property in question, ownership details, location and so much more.
For Experian, a voluntary repossession will remain on your credit report for seven years from the original delinquency date of the debt.
neither looks good on your credit.
Yes, but perhaps not as adversely as an involuntary repossession.
Voluntary repo is you call the loan holder and tell them to come get it or you take it to them. Involuntary they have to come & get it.