Finance, Credit and Repossession Information Resource

Big Bank Gets Hit with 9 Million in Fines for Taking Military Cars

Come on Santander, repossession 101. Never take active military cars? Either the bank hired agents that had no knowledge of the law but they were in fact cheap. Or Santander felt they were above the law and for that they will pay dearly. They could have allowed the debtors to keep each car for less […]

Usually How Many Payments Behind Before Repossession is Assigned

  The repossession department of a bank like Citibank or Bank of America will typically put a repo order out right at around 90 days of delinquency. These departments are on their own away from other banking departments within the bank, usually located at the corporate location of the particular bank you hold the loan […]

Subprime Financing your Next Car

Subprime financing today has become a tool of choice for many car buyers that have had credit affected one way or another whether it was from a previous repossession or even a bankruptcy, sub-prime is a choice that like repo is not really out on billboards or everywhere you look. Sub-prime financing is part of […]

Auto Refinance to Avoid Getting Behind

Whatever the deal may be, you might have had to get a loan on a car a couple years back when your credit was real bad. Maybe you got in a jam from a previous repo but its been a while and now your stuck with this ridiculous interest rate up in the high teens. […]

I bought a car from some guy and last night it got repossessed

I wake up this morning and my car is gone so I called the police to tell them its stolen. They advised me it has been repossessed but I told them I have no loans with any bank on the car. This is a scenario that happens often and it can happen a few different […]

America car lending stays strong yet repossessions are down in second quarter

Experian automotive has released second quarter data today reporting that American repossessions have dropped nearly 15%. Although Experian is not the most trusted company as far as reporting goes with individual credit, since they started the repossession and automotive finance¬†¬†tracking over 7 years ago the data has been very accurate. They claim that people being […]

Getting Another Car After a Repo

Getting repossessed is not the end of the road for getting financed in another car although it will take six or seven years to get back to A or B rated credit. You will have to be perfect with any credit you have over that time frame in order to keep building back but its […]

Car Repossessions

Car repossessions are the most common, after all just about anyone with any credit can go to a new or used car dealership and drive away with a car. Amazingly around 6 years ago a statistic with one of our clients called Affiliated Financial was quoting that only a figure of around 6% sub-prime cars […]

Credit After Repo

The day has come when times are tougher than usual and the once beautiful credit rating of 700 plus with little debt has suddenly been turned into a 500 credit score and the new Fiat you were driving has now turned into a 1998 Mazda you bought for $500.00. It’s unfortunate and will absolutely have […]

The Bank Took My Car When I Filed Bankruptcy

Over the years doing repossessions including all types of collateral, I couldn’t even begin to remember how many times the car had to be returned to the debtor. That’s right, returned right to the debtors driveway, door to door service, no fee’s, no questions asked nothing. What would happen is either as soon as the […]