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Know the Law. The process of repossession is intrusive and frustrating and can be intimidating. The laws are murky and vary from state to state, but a court order is almost never needed for a ...
Debt collectors can’t touch your car in most cases, but there are exceptions.
Repossession, colloquially repo, is a "self-help" type of action in which the party having right of ownership of a property takes the property in question back from ...
To keep the right of redemption, the debtor may be able to petition the court for an injunction. If repossession is imminent, the debtor must seek a temporary restraining order. However, the debtor may have to post a bond in the amount of the debt. This protects the creditor if the attempt to stop foreclosure is simply an attempt to escape the ...
Vehicle immobilization is a key part of the act of impounding.. Vehicle impoundment is the legal process of placing a vehicle into an impoundment lot or tow yard, [1] which is a holding place for cars until they are placed back in the control of the owner, recycled for their metal, stripped of their parts at a wrecking yard or auctioned off for the benefit of the impounding agency.
A repossession can stay on your credit report for up to seven years, often causing a credit score drop of over 100 points. Even if you set up voluntary repossession to give the car back, the ...
A deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings.
If you're the kind of person who hates to clean for company, perhaps you might see a subplot in the actions of an Ohio man who bulldozed his $350,000 house rather than surrender it to a ...