Yes, it is called bankruptcy. Move quickly though. If the lender obtains a judgment against you before you file bankruptcy, you will still owe on the loan.
is concealing a car from repossession a felony in georgia?
lawhelp.org/GA
who is allow to do Vehichle/car repossession? when is a vehichle/car repossession not allowed? whats the minimum insurance needed for car repossession?
How do you write a car repossession letter?
Yes, after due process is followed in accordance with the laws of the state.
Per the Uniform Commercial Code, repossession is allowed without committing a breach of the peace. For specific legal regulations, see the related link below.
I own a repo company in Washington state, so I'm not a expert in Georgia laws, however in most cases states consider repossession or self-help repossession to be a civil matter. Most likely your local PD would not take action against you. This is provided there is not a court order, forcing you to turn over your vehicle.
The repossession process of a car usually takes about 6 months
A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.
You might be able to get a personal loan after a car repossession. However, you would get the loan at a very high interest rate one the repossession is on your credit report.
The repossession stays on your credit report for 7 years.
Possibly, but they can certainly prevent you from interfering, as it is no longer your car, hence the repossession.