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The repossession agent shows up and takes the car if everything goes correctly.

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โˆ™ 2012-01-01 01:22:38
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Q: What happens in a repossession?
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Related questions

What happens to your license plates after repossession in NY?

what happens to your liscense plates after reposesion in N.Y.


Who is responsible for damage to the yard during a repossession in Florida?

The LIENHOLDER is ultimately responsible for anything that happens during a self help repossession.


Does repossession show on your credit report as soon as the car is taken or after it is auctioned?

It can show at any time. A repossession is compleated as soon as the car is picked up so it does not matter what happens after the repossession it still did happen.


What happens after a repossession?

After a repossession, you will need to pay a fine usually. For example, if this was a car being repossessed, you would have to pay a certain amount to get it back.


What happens if you hide your car from repossession in Iowa?

Eventually you will be court orderded to give up your car, and plus with a repossession, you will ruin your credit report and they will do a wage garnishment eventually.


What happens if you hide a vehicle from repossession in colorado?

You are guilty of grand theft auto.


In Texas how many months before repossession?

No months. It will be more like weeks or days. In practice, you can be one day past due and the lender can send your vehicle for repossession. It might be months before the actual repossession happens; it will depend on how difficult it is for the agency to secure it.


What happens if you conceal a car on repossession in Florida?

Concealment of a car up for repossession in Florida is a felony. You can be charged with hindering a lender in repossessing a vehicle, or even grand theft auto. Additionally, the state of Florida will not permit you to register any vehicle in your name if you have an active repossession against you.


What happens when your leased vehicle is repossessed?

READ your lease contract. It should specify the results of repossession.


What happens to the car after repossession?

The bank sells your car at an auction lot for about half the price you paid for it.


What happens when you get call regarding repossession but no letter after making a payment?

One payment may not be enough to stop the progress of the repossession proceedings. You need to communicate with the mortgage company and arrange to make regular payments.


What happens if you haven't paid the remaining balance after the repossession?

"remaining balance" as in what you are behind OR the remaining balance due on the loan??


How will a voluntary repossession affect your purchasing a car within a year from the voluntary repossession?

A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.


Can you remove a repossession off your credit report if your cosigner has a judgment on the repossession?

No you cannot remove a repossession off your credit report if your cosigner has a judgement on the repossession.


Does a voluntary repossession affect credit the same way as a reposession?

Yes, there is no difference. A repossession is a repossession.


What happens if you deny repossession?

They repo agent will take it when your not looking. The agent still has a job to do and only get paid if the jod is complete.


Does the repossession company have to report the repossession to the police after the repossession?

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.


Is it legal to carry a firearm during a repossession?

Repossession of what? Who? The repo agent?


What happens to the deficiency of a repossession after chapter 7 bankruptcy is discharged?

IF you list it on the B/K. it goes away, you dont owe it anymore.


What happens if you get a traffic ticket while you are doing a repossession in ca?

Just like anyone else who might get a ticket while in the performance of their job - either pay it or go to court and contest it. Repossession agents are not immune from traffic tickets if they violate a traffic law.


What is repossession insurance?

Wrongful repossession insurance??? Coverage for when the Repossession Agency wrongfully recovers an asset for a myriad of reasons.


Are the Lender of a repossession allowed to charge a storage fee and a repossession fee in the state of California?

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.


How do you write a car repossession letter?

How do you write a car repossession letter?


What will a repossession do to your credit report?

A repossession is a serious negative and will drop your scores.


Where do you get car repossossion permit?

who is allow to do Vehichle/car repossession? when is a vehichle/car repossession not allowed? whats the minimum insurance needed for car repossession?