We've all heard stories about the repo man, and if you've defaulted on your auto loan, you could be in danger of having this person pay a visit to your home. In fact, in the case of most car loans, if you fail to pay the monthly payments, the owner of your debt has...
Am I in danger of a vehicle repossession?
As soon as you discover you can't make your car payment or some other kind of secured loan payment, you should act swiftly. You need to do whatever you can to reduce the risk of having your property repossessed. One or two missed payments could be enough to put you on...
When is property repossession wrongful?
Having your home repossessed can be an extremely stressful situation to be in. You may find yourself in financial struggles as well as facing the prospect of being homeless. A creditor can only rightfully repossess your home under certain circumstances, and sometimes,...
When do creditors have the right to take my car?
If you have an asset on credit, for example, if you are paying off a loan on your car, or have a mortgage on your house, legally, it is not really yours. Therefore, you must keep to the terms of the loan repayments if you do not want your creditors to take action...
How to prevent the repossession of your home
When you lose your job or start struggling with debts, things can get out of control very quickly. When you start defaulting on your mortgage repayments, you can soon become at risk of having your home repossessed. While home repossession can lawfully happen, there...
What rights do companies have to repossess in Minnesota?
When you are under threat of having a possession repossessed, it is likely that you feel stressed and somewhat powerless to do anything about it. If you are in a situation such as this, it is very important that you take the time to understand how the law works in the...
My car is in danger of repossession: How can I keep it?
Automotive repossession happens when you fail to pay your car payments on time. Usually, your bank will contact you via letter to notify you that you're late on your payments. Next, your bank will call you to ask if you're going to pay the money you owe and notify you...
When is repossession unlawful in Minnesota?
When you take out a loan in order to buy an expensive and important purchase such as a car or a truck, you will have a repayment plan that you must stick to in order to keep the vehicle. The small print in the credit agreement will outline the details of under what...
Why do wrongful repossessions occur and what you can about them?
Most of us rely on our vehicles to get us around, whether it may be from home to school, from work to the store or anywhere else we need to go. Many of us couldn't fathom not having ready access to our automobiles. We all have likely heard what happens if we miss a...
Was my Minnesota car wrongfully repossessed?
There is little more disheartening than finding out that your car has been repossessed. It is likely that you count on your car for getting to work every day, going grocery shopping, and going out to meet friends. When your car is taken away from you, so is your...