Jump to content

Welcome to CreditBoards!

Sign In 

Create Account
Welcome to CreditBoards! Like most online communities, you must register to post in our community, but don't worry - this is a simple process requiring minimal information for you to sign up. Be a part of CreditBoards by signing in or creating an account.
  • Start new topics and reply to others
  • Subscribe to topics to get email updates
  • Get your own profile page and make new friends
  • Send personal messages to other members.
Guest Message by DevFuse

Read These Items!

  • Please note that the Terms of Service for Creditboards.com have been changed.  A "plain language" summary has been added to the TOS and to the registration agreement.  No other changes were made.  If you post after you read this, we consider that acceptance of the new terms.  If you have any questions concerning the new terms, please feel free to PM an admin or email admin@creditboards.com
  • If you're getting an Authentication mismatch error: Clear your cache. Log out of CB. Delete your cookie. Close your browser. Open your browser and log back in.



  • This topic is locked This topic is locked
5 replies to this topic

#1 MarvBear


    Velvet Hammer

  • Admin
  • 48,919 posts

Posted 10 March 2004 - 07:57 PM

I have been asked from time to time questions about handling an automobile repossession. There are many threads scattered throughout CreditBoards relative to this topic. Using the search function can sometimes be a daunting task for someone desperate for help, so I propose the following:

Although this is a credit related issue, it is also an automobile financing issue. I believe for our board members, if we could make a concerted effort to concentrate all our advice, strategies, and comments in one main thread, then most questions could be addressed in one easy to find thread.

While I am not technically very competent in the giving of advice relative to handling a deficiency resulting from repossession, or the ramifications of it being reported on your credit file, I can make certain recommendations that may prove helpful.

WhyChat has a repo letter located here that may prove to be helpful. WhyChat Repo Letter

This should not be construed as legal advice, nor should you just cut n paste the letter without thoroughly examining every opportunity available to you. This letter may or may not work for you, I make no guarantees. It has been helpful to me.

I sincerely hope our board members will chime in and offer pertinent comments that all may find useful.

Edited by MarvBear, 03 April 2008 - 07:12 PM.

#2 MarvBear


    Velvet Hammer

  • Admin
  • 48,919 posts

Posted 23 March 2004 - 10:05 AM

Here is a good Repo Thread over in the main Credit Forum.

http://creditboards....l=ucc repo laws

And here is another Repo Thread with a bit different twist.


And yet another Repo thread.


Another Repo thread.


Another Repo Thread regarding leases.


Another repo thread with some good information for Maryland residents.


also a link to a very plain language site regarding Maryland Reposessions.

Another link regarding the 60% rule.

link to Indiana repossession topic


Another Repo thread with a good outcome


Edited by MarvBear, 03 February 2013 - 03:51 PM.

#3 yosshimura

  • Members
  • 107 posts

Posted 02 April 2004 - 01:30 PM

:8) Good idea for some of us :D
  • 0

#4 komputerjeanyus

  • Members
  • 501 posts

Posted 12 May 2004 - 06:49 AM

A letter like the one listed in the links above constitutes what is called a "voluntary surrender"...I had one eleven years ago and it really wasn't that bad...better to do it voluntarily then have it hooked up by a tow truck at 2 in the morning...
  • 0

#5 AlanJ44

  • Members
  • 833 posts

Posted 15 February 2005 - 09:18 PM

I agree with the voluntary surrender point. When my business crashed during the recession and terrorism of 2001 I had five trucks "go back". Other than the pain it suffered us credit wise it was a hoot to "help" the repo guy! Most of them were speechless when I told them where and when to come get it and I'll leave the keys in the seat for you!!! Even drove one on the roll back for him. I imagine they have a pretty tense job for the most part.

Just my two cents of experience
  • 0

#6 MarvBear


    Velvet Hammer

  • Admin
  • 48,919 posts

Posted 13 May 2005 - 08:16 PM

Courtesy of our crediboards member Frisbee:

A repo is serious business covered by law. If you have had a repo where either a claim can be made for defective notices or no notices, I know a lawyer who can help you. This lawyer practices in NJ but will take calls from any state and put you in touch with a lawyer in your area.

Christopher J. McGinn
cmcginn at galexwolf dot com

I am sure this will be much appreciated!

0 user(s) are browsing this forum

0 members, 0 guests, 0 anonymous users

© Copyright 2003 - 2015 Creditboards.com. All rights reserved. No portion of this site may be reproduced without explicit permission from the owners. The content of creditboards.com is subject solely to the personal whim of its admins. We reserve the right, at our sole discretion, to remove any and all posts or comments, at any time, for any reason which takes our entirely capricious fancy, or for no particular reason whatsoever, without restriction. Comments or questions regarding the site may be addressed to admin@creditboards.com.