When an asset gets repossessed, it's stressful enough even if you understand why it's happening. If you don't make your mortgage payments and they start to foreclose on your house, you know why you reached this point, but it still puts incredible pressure on you and...
What’s being done to minimize wrongful repossessions?
Software and app developers have been hard at work during the past few years developing mobile technology aimed at curbing wrongful repossession (repo) rates of vehicles. One of the standout programs that has emerged from all of their hard work is a mobile platform...
Did the repo man breach the peace when taking your car? Act now
There are plenty of law-abiding people working in the repossession business -- and there are also quite a few who act like every repossession is a game they're determined to win. Some of those repo agents are definitely not above breaching the peace to get at your...
Can you hide your car to prevent repossession?
If you slip behind on your car payments, it won't be long before you hear from your lender. At that point, it's critical to do your part in working out an agreement that allows you to keep your vehicle. Depending on the circumstances, there may come a point when your...
Debt collectors can’t do whatever they want
A financial hardship is difficult enough without debt collectors harassing you. If this becomes a problem, you're sure to find yourself in an even more stressful situation. Fortunately, there are things you can do to protect yourself. First and foremost, remember...
Does your lender have the legal right to repossess your car?
When you take out a loan to purchase a vehicle, you agree to pay it back based on the terms and conditions of the agreement. There are many situations in which your lender may consider its legal rights for repossessing your car. However, there are specific steps your...
How can you get your repossessed car back?
You rely on your car to commute to work, pick up groceries and get your children to and from school. So, if you no longer have access to your vehicle, it will lead to a variety of challenges within your day-to-day life. If you slip behind on your car payments,...
How can people fight repossession of property or homes?
We should only buy things we can afford, but that doesn't stop us from making some bad financial decisions. In many cases, people make all the right choices and circumstances still keep them from financial success. Although creditors often have the right to reclaim...
Why was my car wrongfully repossessed and what can I do about it?
Many of us have come to rely on using our car to get our kids to school, to work, to the store or anywhere else we may need to go. While it may be inconvenient if it happens, it's understandable if our car gets repossessed because we fall behind in making payments on...
Learn about two types of wrongful repossession
If you've taken out a loan secured by a piece of property, the owner of your debt can repossess this property in the event that you default on the loan. This repossession process, however, must follow specific rules. Failure to adhere to these rules on the part of the...