If you're having trouble making payments, and the repo man is knocking on your door, it's not too late to take steps like negotiating a new payment plan with your lender or selling off some of your belongings in order to pay down the loan. these options give you more control over what happens to your car; if it's repossessed, lack of transportation will make it harder for you to work and may cause other problems.
there are plenty of reasons someone might miss a few payments: unexpected costs like car repair bills or medical emergencies can throw budgets off balance when they least expect them. build in a little padding in case life throws an obstacle in the way again — that way you'll have enough money set aside
how do i stop the repo man from taking my car?
get on the waiting list for a car at your local car dealership.
the repo man can take many different types of assets in lieu of the repossessed vehicle (usually via court order): real estate, machinery, inventory, stock shares held in an account. one generally would need to get organized though to guarantee they will be making the payments on time every month; otherwise this could lead to future problems down the line – like not getting another car when you need it!
can a repossession order be stopped?
the question may likely have a different context, so it is hard to answer in the abstract. if you have a specific legal issue going on with your car being repossessed for example, then yes. but if you just want to know if there's something that can be done about the fact that they were able to repo your car in general- then no.
in some u.s. states “repo man” is illegal, but this doesn't affect whether or not they're allowed from seizing property from other countries (just like any business owner). essentially, an auto's lender can simply force them make payments through their bank account and charge outrageous interest rates on top of everything until they pay off what they owe plus late
can a repo man make you get out of your car?
generally, repo men are certified officers who have the power to enforce procedures set out in civil law. if you're still parked on the property after being given an official warning, they can tow your car away to pay off whatever debts are owed to maintain ownership of the vehicle. some repo men may even be authorized by law to bring force against people refusing to leave their homes or vehicles for personal safety purposes if necessary. they can also handcuff individuals who resist arrest and read folks their rights before miranda warnings apply.
how can i stop the repo man?
if you contact the lender and make an agreement to pay off the balance within a certain period, they will not pursue seizure of property. you can call and inquire about this without advance notice. your credit score may go down if you start making payments on your own accord, but it is worth reaching out to discuss terms before calling in the repo man for good.