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Repossession
Harvard University
Florida State University

Should you do a voluntary repo if you are not in arrears?


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2014-02-04 21:46:59
2014-02-04 21:46:59

Hal, you BEST option is to sell one of the cars. But you're upside down, right? Get the best price you can for it and borrow enough to pay the loan off. Do it NOW before you get in a real bind. yes, you will be paying for a car you DONT have but you will also be KEEPING your good credit.And doing it with a smaller note without creditors calling you, ect. The lender is going to want the balance due on the loan after you VOLUNTARY repo and they sell it. Not pretty is it? It is BEAUTIFUL compared to what you will get after a repo. Face this head on and win. Put your head in the sand and lose. Good Luck

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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.

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YES, on a CR, a repo is a repo.

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Operation Repo - 2007 Voluntary Surrender was released on: USA: 2012


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