Phrases with «voluntary repossession»

"Voluntary repossession" refers to the act of willingly returning an item or property, typically a vehicle, to the lender or financial institution. It usually occurs when the borrower is unable to make loan payments and decides to surrender the item to the lender without being forced to do so through legal means. Full definition

repossession (parent phrase)
voluntary (parent phrase)

voluntary repossession

Sentences with «voluntary repossession»

When debts are too much for you to handle, you may decide to consider voluntary repossession of your vehicle before it is forcibly taken away from you. (debthelp.com)
(See voluntary repossession) Unfortunately, lenders usually have the right to repossess your vehicle after any late payment (including the very first one). (fair-debt-collection.com)
Surrendering your vehicle also known as voluntary repossession to the lender does not void the car loan contract. (rebuildcreditscores.com)
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Phrases with «voluntary repossession»

Sentences with «voluntary repossession»

See also