I own 2 cars. The car I am looking to get repo’d was an ex’s car that I bought. That person passed away and I just don’t want to deal with the car. I’ve heard there are ways to get a repo off your credit report using law firms, so I’ve been considering it.
Repossession
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are there risks???? if someone came to take your car away wouldnt you chase them down with a baseball bat?
They will repo the car and still you will owe the same amount for it as if you had it and when you don’t pay they can garnish your wages, destroy your credit, etc. Try to sell it for your remaining balance if you don’t have the means to make your payments. Then you may be carless but at least your credit isn’t ruined and your wages aren’t garnished for something you don’t even have. They do it I’ve seen it happen. If you can come up with the money somehow do it. Repossession is a horrible thing to let happen. Once your credit is ruined your chances of getting another car is slim.
The only good thing about voluntary giving up the car when they call to say they are coming for it is you will know when they are coming for it. You could be out shopping and when you come out with grocerys your car will be gone.Or worst yet get ready to go to work and have no car to get to work. Then you’ll call the police to report it stolen. Then the police will look up on their books to see if there were any repo’s. Who ever has a lean on it or holds the title will auction it off and you will owe the balance if they do not get the full amount you owe. Your credit will be bad. Start looking for a cheap car to get around with now. Before they get to your car. Good luck