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Repossession

What happens to items in a car after repossession?


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Wiki User
2005-02-28 07:51:33
2005-02-28 07:51:33

It all depends on the repo, co. Most are privately owned and when the car is repossessed the owner of the car contacts the local police to report the car missing and the police will have a report of the car being repossessed and will let the owner know who to contact(repo co.), The repo company will usually give a certain amount of time for the owner to contact them for their belongings, after that time all items are forfeited. It would be best to contact your finance company and make arrangements for the return of the car, since they sent the repo contract order out for the vehicle. All the "items" are inventoried and stored until the debtor comes to redeem them OR the legal time limit(usually 60 days) to hold them is gone. Then they are usually thrown away or donated to charity. There is not a big market for used clothes, McD cups, beer cans, prepaid phone cards, casino cards,chikin bones,ect.

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

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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.

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

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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.

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Depends. Are you receiving the car or are you selling the car.Repossession = againRepossession = ownershipRepossession = gaining ownership again


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