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What else can I help you with?
Is it true repo agents must verify VIN before taking the vehicle?
Yes, it is true that repossession agents must verify VINs before taking a vehicle. They have to be certain that they have the correct vehicle.
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.
Can you take out a stereo before repossession?
no
What is the law in Colorado for car repossession?
In Colorado, a lender cannot repossess a car until the borrower is in default, which typically means missing a payment. The lender must provide the borrower with a right to cure notice giving them a chance to catch up on payments before repossession. Repossession agents must also follow regulations including not breaching the peace during the repossession process.
Do you receive notification before auto repossession?
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.
What insurance do you need to be a repossession agent?
Well you will never get any work if you are not insured, at least do not hold out for ford triad or anybody else , you might get title loan company's but almost all of them require their recovery agents to be insured. but there are no licensing requirements. police departments must be notified after the repossession and some require to notify them before hand
Do you have a right to have a repossession letter before my vehicle is repossessed?
no
Can you take tires off car and block it up offthe ground and stop them from repossing it?
Removing the tires and blocking up the car will not prevent repossession. Repossession companies have legal authority to take possession of a vehicle, regardless of its condition. If you are facing repossession, it is best to contact the lender to discuss your options and potentially work out a solution.
Does a repossession agent need to be insured in the state of Connecticut?
Well you will never get any work if you are not insured, atleast do not hold out for ford triad or anybody else , you might get title loan company's but almost all of them require there recovery agents to be insured. but there are no licensing requirments. police departments must be notified after the repossession and some require to notify them before hand
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.
How can a repossession with a zero balance affect a credit score and can it be removed?
A repossession will significantly lower your credit score, regardless of the balance. It will take around 7 years before the repossession is removed from the credit report.
What does pre-repo status mean?
Basically, it means last chance to pay before repossession takes place. The procedure for repossession is in progress.
