Someone who discovers their car is no longer in its parking space may assume theft, only to find a repossession occurred. Unfortunately, the actions taken might not follow the law's guidelines. Such incidents could increase as the government notes an increased wave of...
When financial times become tough, making regular payments on cars, motorcycles, consumer electronics, and other items could become challenging. If a Minnesota customer falls behind on payments, the lender may initiate a repossession. Not everyone understands how...
Minnesota residents who fall behind on certain bills such as auto loans may have had an unpleasant visit from repo agents. It's important to remember that repo services aren't part of the police or the government. There are laws that repo agents have to follow, and...
If you are struggling to pay your debts, it may be in your best interest to file for bankruptcy in a Minnesota court. Doing so may prevent property such as a home or car from being seized by creditors. However, there is a chance that your lender may repossess your car...
Most auto repossession contracts include terms that are carried out legally. However, there are a few lenders and repossession companies that use unfair, deceptive practices to repossess their vehicles. Even after missing several payments, you have the right to sue...
Buyers who do not make their car loan payments could find the vehicle repossessed. Financiers expect timely payments and do not want to lose money on a Minnesota car sale. However, just as borrowers may make mistakes, so might the lender. A financing company’s error...
If a repossession appears on your credit report, it could have a significant impact on your credit score. However, there is a chance that a Minnesota auto lender might be willing to work with you to get the repossession erased from your credit report. It may also be...
Drivers in Minnesota rely on their cars. Many of them may not live in an area with bus service and even rideshare can get expensive. Sometimes, people find to their shock that their car has been wrongfully repossessed. This occurs when a creditor takes collateral...
Most Minnesota vehicle owners carry auto loans for the vehicles that they’re driving. Auto loans are commonly known as asset-backed loans where the vehicle is used as a form of collateral to ensure the borrower makes timely loan payments. Unfortunately, sometimes the...
You shouldn't have to worry about your car being picked up by the repo agent if you've made timely payments on your car loan. Vehicles sometimes get repossessed even when borrowers pay on time though. While this often happens because of computer glitches or bad...
