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Your car gets repossessed, which makes it even harder to earn money. The missed payments and repossession sink your credit, which makes it nearly impossible to finance a new car, and the cycle ...
If your car has been repossessed, you need to take action right away to get your finances in order and get back on the road. Here are two questions you'll need to answer: The average person has to ...
Depending on your situation, you may need to cancel your car insurance or remove the repossessed car from the policy. It is important to keep in mind that some states require you to surrender your ...
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.
Usually, the vehicle owner must be notified of a repossession. The repossession agent will find the car and check its information such as the vehicle identification number (VIN) to make sure they have the right vehicle. If there is a match, they will attempt to hook up the car to the tow truck and tow it away or pick the lock and drive it away.
Because the right of redemption is an equitable right, foreclosure is an action in equity. 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.
Operation Repo (formerly known as Operación Repo) is an American reality television series that depicts the world of car repossession with a team that portrays repossessions from California's San Fernando Valley.
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