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What else can I help you with?
What is the expansion of Repo Rate?
repossession
Does voluntary repossession hurt your credit?
YES, on a CR, a repo is a repo.
If you do a voluntary repo and get another dealerships car will that hurt your credit as bad as not making any payments for a repossession?
A repo is a repo is a repo.
In Georgia should you do a voluntary repossession or just repossession?
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.
What is a contingency repossession?
One where the repossession agency receives no fees to cover the expenses incurred in the efforts expended during the recovery process unless the unit is actually recovered. No repo, no money.
What are the proper procedures for repossession and sale?
The answer to this depends on the state you live in. Each state has different laws that prescribe the process for repo and sale.
Can they repo another vehicle for ransom my daughter was told this by the repo man?
No. The only vehicle that can be repossessed is the vehicle for which the agent has a valid order of repossession, OR in some cases, a vehicle the agent encounters (such as reported by a camera car) in the process of locating another repossession. Anything other would be wrongful repossession or possibly grand theft auto and extortion.
Will paying off a repo car fix your credit?
It won't fix it, but paying off any remaining debt from the vehicle should help your credit rating. Unfortunately, a repossession will linger on your credit report for about 7 years.
What is the difference between voluntary repossession and regular repossession and the pros and cons with it?
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.
What to say when you want to do a car repossession?
If you are giving up your own car for repo then you tell who you financed the car with you want a voluntary repossession. It still looks bad on your credit, but not as bad as a regular repo does
How long does a voluntary repossession stay on your credit report?
For Experian, a voluntary repossession will remain on your credit report for seven years from the original delinquency date of the debt.
How does the auto repossession process in Wisconsin differ from repos in self help states ie WI is NOT a self help state so how does this affect the WI repo agent's job?
WI is now and has been self help since the middle of 2006
