Can a repossession cost be a tax deduction?

Answer Repossessions and foreclosures are handled, for tax purposes, just like any other financial gains or losses from a sale or exchange, according to IRS Publication 544, Sales and Other Dispositions o... Read More »

Top Q&A For: Can a repossession cost be a tax deduction

Mortgage Repossession Law?

Mortgage repossession or foreclosure is the process by which a lender recovers the amount owed by the homeowner on loan in which the homeowner defaults. Lenders take possession of the property by r... Read More »

Who can request a car repossession?

When a vehicle loan agreement is defaulted by nonpayment, the creditor, or lender, can execute a repossession of the vehicle. The creditor is the only one that can request the repossession.Referenc... Read More »

Minnesota Car Repossession Law?

Minnesota debtors may face repossession of their car if they fail to abide by the terms of the loan agreement. The loan agreement is signed by the debtor and describes what constitutes a default of... Read More »

How to Do a Volunteer Car Repossession?

A voluntary repossession has the same negative impact on your credit history as an involuntary repossession. Be sure to call your bank or dealer as soon as possible to arrange for the vehicle drop-... Read More »