Voluntary Repossession - should you give up your car?

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Voluntary repossession - Should you give up your car?

"Voluntary repossession" is a term used to describe a situation in which a consumer voluntarily surrenders the property securing a loan, such as an automobile, to the lender that financed the purchase.

Voluntary repos generally occur when a consumer has fallen behind on his or her loan payments, and decides to surrender the property rather than forcing the creditor to proceed with repossession.

Voluntary repossessions occur most frequently with vehicles, but can occur with any type of secured loan, such as the purchase of work equipment, jewelry, etc.

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Видео Voluntary Repossession - should you give up your car? канала DebtProfessor