Want this question answered?
Yes, there is no difference. A repossession is a repossession.
For Experian, a voluntary repossession will remain on your credit report for seven years from the original delinquency date of the debt.
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
What is the difference between voluntary life insurance and life, ad/d?
Neither are good. Call the lender and work something out. a repo is a repo by any standard ,they will sell the unit and go after you for the deficiency no matter what.it will be on your credit as a repo. You will not have to pay the towing and fees associated with the repo. That is the only difference.
neither looks good on your credit.
Yes, but perhaps not as adversely as an involuntary repossession.
Involuntary is not under your control while voluntary is.
what are the legalities of voluntary vehicle repossession
a voluntary repossession is where you turn over the vehicle instead of us having to come get it from you. www.aerecoveryandtowing.com