What is voluntary repossession?

Answer If you find yourself financially unable to make your car payments, you can expect that your lender will attempt to recover the car through repossession. You may opt to allow the lender who gave you... Read More »

Top Q&A For: What is voluntary repossession

What happens after voluntary repossession on a vehicle?

After the voluntary repossession of a vehicle, it is sold at an auction so that the lender can recoup some of the investment. If the repossessed vehicle sells for less than the balance of the loan,... Read More »

Texas Laws on Voluntary Repossession?

Texas residents in default on their car loan may offer to return the car before it is repossessed by the lender. This is known as a voluntary repossession and it can have a negative impact on the c... Read More »

How to File for Bankruptcy for a Voluntary Repossession?

Some debtors believe that if they voluntarily give up possession of financed property, they are no longer responsible for the debt. While relinquishing secured property back to the lender can lesse... Read More »

Louisiana Laws for Voluntary Vehicle Repossession?

Louisiana law prohibits lenders from repossessing vehicles without a court order unless the debtor agrees to it. This is known as "voluntary repossession." Once a debtor signs an instrument surrend... Read More »