Finance, Credit and Repossession Information Resource

Agressive Repo and Woman Destroys Car While Being Repossessed

Violence is certainly way up in repo work and it is nothing new that a car gets picked up that has been destroyed by an unhappy debtor but the new trend seems to be to destroy the car while it’s being picked up. The following is a video and article from the South Carolina news […]

Florida Man Awarded Over a Quarter Million for Problematic Vehicle Repossession

For some reason the agent makes contact with the debtor in order to get the vehicle, it could have been keys, it could have been called in as a voluntary repossession as many times this happens and the debtor has second thoughts after setting the thing up. Sometimes the bank will assume it is voluntary […]

Repo on Credit Report and Deficiency Balance

I got a letter in the mail that the bank has finally sold our car at auction. We owed $12,000 and the bank sold it for $4,000, only a third of what we owe. I have a couple of questions as to the repo and credit moving forward down the road. One of our options […]

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 […]

Why do repomen avoid the police during repossessions

This question comes up often in certain forums discussing TV shows and certain actions such as hiding from security or police during a repossession. It is understandable that many people do not understand the reasoning of this as most people would think that LE would be on the side of the repoman. While there are […]

Can a Repoman Take My Car from the Garage

I have my car inside my garage but I know it is up for repo. Can they come into my garage or property to take the car? It is probably better off rewording this question to will a repoman or repossession agent come into my garage to take my car that is up for repossession? […]

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 […]

I’ve been repossessed I think, now what?

A normal morning comes around 7am getting out of bed, having some coffee, showering and stepping outside to get in the car for the usual work day at the office. Problem is this particular morning you get outside and the car is gone. Your adrenaline hits the roof thinking who the hell stole this car […]

Law changes involving car repossessions

May 16, 2013: REFERRED TO TRANSPORTATION S5448-2013 Memo BILL NUMBER:S5448 TITLE OF BILL: An act to amend the vehicle and traffic law, in relation to repossession of motor vehicle or motorcycle PURPOSE: To remove a bureaucratic obstacle and simplify the ability of a motor vehicle owner to redeem a motor vehicle or motorcycle which has […]