Sentences with phrase «auto repossession»
"Auto repossession" refers to the situation where a lender takes back a vehicle that the borrower has not been able to make regular payments on. It usually occurs when the borrower defaults on their loan agreement, and the lender legally repossesses the car to recover their money. Full definition
The rate of auto repossessions in the second quarter took a significant jump, up more than 70 percent (to 0.62 percent) from a year earlier.
cnbc.com
That means millions of people could face auto repossession.
Typically, an auto loan charge off is a result of a residual balance left after auto repossession.
Towing companies may perform auto repossession work for - hire.
This led the researchers at the Fed to conclude that many consumers may see their credit reports damaged and experience further hardships as a result of auto repossession.
That means millions of people could face auto repossession.
In the mortgage lending industry, if you've fallen behind on your credit cards or other loans or your history shows a foreclosure, bankruptcy, or auto repossession, it may be very hard to get a loan.
The difference, called the auto repossession overage balance, is your responsibility.
-- No auto repossessions.
Typically, the lender contracts with a third - party company to retrieve the property, such as a towing service that specializes in auto repossessions.
There's fair credit reporting, auto repossession, student loan law, bankruptcy, foreclosures, truth in lending, collection actions, etc..