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Depends on your state laws and the contract you signed with the lender. Read your contract. after the second payment is not paid
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∙ 17y ago
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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.
What is needed to start a repossession business in Georgia?
check out laws and regulations in your stae(georgia)
If a repossession stays on your credit report seven years does that start from the date of the repo or the date of the final sale?
It stays on your credit report 7 years from the date of settlement not the date of repossession.
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.
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.
Can a car be repossessed if you are two payments behind?
Legally if you miss 1 payment you are delinquent and they can start repossession proceedings on their vehicle.
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?
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.
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 many payments in the state of Texas can you be behind for repo?
Legally if you miss 1 payment you are delinquent and they can start repossession proceedings on their vehicle.
What is the length of time Florida creditors have to contact you after a repossession?
start here http://licgweb.doacs.state.fl.us/recovery/violations.html Why would they need to conttact you??
