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What is willing repossession?


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Answered 2008-10-05 06:51:35

a voluntary repossession is where you turn over the vehicle instead of us having to come get it from you. www.aerecoveryandtowing.com

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How do I get a repossession license in Arizona?

all you need is to find a company that is willing to take a chance with you


How will voluntary repossession of my home in Texas affect my credit?

The effect on your credit will depend on how the lender chooses to report it to the credit bureau. Sometimes a lender will be willing to report it 'paid as agreed' or 'settled' entry on the credit report rather than an actual repossession. If it is reported as an actual repossession or foreclosure it will be on your credit for seven years and negatively effect your rating.


How does a willing reposession effect your credit?

A repossession hurts your credit score whether it is voluntary or not. The creditor will report late payments, a charge off status, and a balance if one is owed. A repossession may hurt your credit score anywhere from 60 to 120 points.


Is it still considered repossession if you willing give the bank the keys to your property before it goes into foreclosure?

Yes, a voluntary foreclosure (deed in lieu of such) is a foreclosure just as a voluntary repossession of a vehicle is a repossession. All the same penalties/fees, recovery of debt laws apply and the information entered on the debtor's credit report will be as a foreclosure regardless of the circumstances involved.


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

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


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.


Do still own the car after a repossession?

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


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

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How can you prevent the repossession of a car?

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What is repossession insurance?

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


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

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How late can a vehicle payment be in Virginia before repossession?

I am a repossession agent in Virginia it takes 2-3 months of not paying before the repossession status occurs.AnswerI am a repossession agent in Virginia it takes 1 missed payment then repossession status occurs.


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?

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Is it legal to carry a firearm during a repossession?

Repossession of what? Who? The repo agent?


How can you avoid repossession of your vehicle if you are willing to pay in installments?

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How much does a repossession agent make?

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Is a voluntary repossession better than a repossession?

neither looks good on your credit.


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?


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.


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You will receive notices that your payments have not been received, making your auto subject to repossession, but you will not receive a date and time of the repossession.


How do you start a repossession business?

To start a repossession business you must file the appropriate business license. Many repossession businesses also have insurance and a bond for their business.


Is there an Auto Repossession Statute of Limitation in Mississippi?

As far as I know there is no statute of limitation on auto repossession in any state. Check with your state Attorney General to be sure. I will post a link for you to read. Repossession should be your last resort. Hiding a vehicle from repossession is a crime in some states. The consequences of repossession are always bad for you.


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Will a voluntary repossession from your spouse affect your credit?

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