Welcome to Repossession Guide
Ny Repossession Agents Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Car Repossession – What You Need To Know
from:Vehicle or more specifically car repossession can occur anytime that you, as the person that is the process of purchasing the car through a loan option, default on a payment or series of payments, depending on the laws of your state and the terms of your vehicle purchase. Car repossession laws vary from state to state with some requiring the creditor to provide notice that you are in default of the loan and subject to repossession of the vehicle, and others not requiring any notice at all.
Knowing your state's car repossession laws is important so you can be aware of what you need to do to protect yourself. Obviously the most important fact is to always make your loan payments on schedule to prevent car repossession. If you can't make your car loan and you know in advance, talking to your lender may provide alternate options such as making a partial payment or making additional payments to catch up to your repayment schedule. Any type of vehicle repossession will result in a dramatic decrease in your credit score that could serious affect your ability to obtain any type of loan in the future.
If you are concerned about having your car repossessed the first step is to talk to an attorney. The lawyer will be able to advise you specifically on what you can do and how you need to do it to protect yourself and your credit. In some cases the car repossession can be done voluntarily and an arrangement made to sell the vehicle and then pay the difference in the outstanding amount and the sale price. This can sometimes be used as an option to prevent it from reflecting on your credit report.
During the vehicle seizure or car repossession the repossession company and its agents have to follow the law or the repossession can be overturned and you may even be able to file for damages. In all states the repo agents cannot use physical force against an owner and in some states they cannot go into a locked garage or other building to take the vehicle. Coming onto your property, especially if you have a locked gate may also violate some state laws. The vehicle can be repossessed in a public space or on the street in front of your yard or in your driveway if there is no locked gate between the driveway and the street. In some states if you refuse to surrender the vehicle and the repo company attempts to take it anyway they may be breaching the peace, which can result your legal right to filing a suit against the company.
Ny Repossession Agents News
Foreclosures fall to lowest level since 2007 - CNN
 ABC News | Foreclosures fall to lowest level since 2007 CNN ... 2012: 11:18 AM ET NEW YORK (CNNMoney) -- Foreclosure filings in April fell for the third straight month to the lowest level since July 2007. Total foreclosure activity for April, including default notices, scheduled auctions and bank repossessions, ... US foreclosure filings hit 5-year low Foreclosure activity sinks to a five-year low UPI NewsTrack Business |
US foreclosure activity drops in April -RealtyTrac - Reuters
 Boston.com | US foreclosure activity drops in April -RealtyTrac Reuters NEW YORK May 17 (Reuters) - Foreclosure activity on US homes dropped in April to the lowest level in nearly five years, RealtyTrac said in a report on Thursday. Foreclosure actions - which include default notices, scheduled auctions and repossessions ... April foreclosure rates down 7 percent Foreclosures Plunge to Five-Year Low in U.S. Recovery: Mortgages |
Fortress Seeks Servicing Rights From $4 Trillion Sale: Mortgages - BusinessWeek
Fortress Seeks Servicing Rights From $4 Trillion Sale: Mortgages BusinessWeek Over the next five years, lenders are expected to sell $4 trillion in servicing rights on the $10 trillion US mortgage market as they seek to avoid new regulations and reduce damage to their reputations, according to a presentation from New York- based ... |
Business Highlights - BusinessWeek
Business Highlights BusinessWeek By AP NEW YORK (AP) -- Facebook's initial public offering of stock is shaping up to be one of the largest ever. The world's definitive online social network is raising at least $16 billion, a big windfall for a company that began eight years ago with ... BC-Business News Preview |
New arts center is retired teacher's dream - Albany Times Union
New arts center is retired teacher's dream Albany Times Union By Tim O'Brien Michael Patrizio, a retired music teacher and director, shows off his new business on Friday, May 18, 2012, at Patrizio Center for the Arts in Latham, NY The center will offer music lessons and classes, dance classes, wellness and ... |
Business Highlights - The Associated Press
Business Highlights The Associated Press By AP – 1 minute ago NEW YORK (AP) — Facebook's initial public offering of stock is shaping up to be one of the largest ever. The world's definitive online social network is raising at least $16 billion, a big windfall for a company that began eight ... |
Bracewell & Giuliani Adds Litigation Partner Judge Joseph M. Cox in Dallas - MarketWatch (press release)
Bracewell & Giuliani Adds Litigation Partner Judge Joseph M. Cox in Dallas MarketWatch (press release) Bracewell & Giuliani LLP is an international law firm with 470 lawyers in Texas, New York, Washington, DC, Connecticut, Seattle, Dubai, and London. We serve Fortune 500 companies, major financial institutions, leading private investment funds, ... |
Getty Looks to Place GPMI Bankruptcy in Its Rearview Mirror - CSNews Online
Getty Looks to Place GPMI Bankruptcy in Its Rearview Mirror CSNews Online By Brian Berk JERICHO, NY -- Getty Realty Corp.has made "demonstrable progress" regarding the repossession of former Getty Petroleum Marketing Inc. (GPMI)properties and the company is excited about its future, Getty Realty CEO David Driscoll said ... |