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What else can I help you with?
What is self-help repo in Texas?
In Texas, a self-help repo refers to the process by which a lender or repossession agent can reclaim a vehicle from a borrower without court intervention, provided it can be done without breaching the peace. This means that the repossession must occur without force, threats, or any disturbance to the public. Texas law requires that the lender notify the borrower after the repossession, and the borrower has the right to redeem the vehicle by paying off the debt. This process is often utilized when borrowers default on their auto loans.
Does voluntary repossession hurt your credit?
YES, on a CR, a repo is a repo.
What is the expansion of Repo Rate?
repossession
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.
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.
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.
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.
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.
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.
