Better Credit Blog
APRIL 1, 2022
When you stop making payments on an auto loan, the lender will take the vehicle back. In lending terms, this is called repossession. Read on to find out how to remove an invalid repossession from your credit report. Either kind of repossession hurts your credit score. Can A Repossession Be Removed from Your Credit Report?
Sawin & Shea
OCTOBER 26, 2022
If you fail to repay an unsecured personal loan, the lender cannot repossess your assets. Personal loans from lenders that you know, such as acquaintances, co-workers, employers, friends, and family. Repossession deficiency claims. Unsecured loans are loans that don’t have collateral. Payday loans. Signature loans.
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Sawin & Shea
FEBRUARY 28, 2024
Types of personal loans include: Installment Plan Payday Peer-to-Peer Lending Cosigner /Guarantor Debt Consolidation Variable Rate Fixed Rate During your bankruptcy proceeding, at least a portion of these loans will be discharged, whether you borrowed from brick-and-mortar or online lenders. However, it is difficult to qualify that soon.
Better Credit Blog
APRIL 1, 2022
Write a letter to the original creditor or collection agency and ask them to remove the negative entry from your credit history as an act of goodwill. This is most effective when you’re trying to remove late payments, paid collections, or paid charge-offs. A goodwill letter is really easy to write. You may spend $400 to $500.
Better Credit Blog
FEBRUARY 17, 2021
Also frustrating, the collections agency has likely been sending letters and calling you regularly. Collections accounts appear on your credit report when you fall behind on payments to a lender or a service provider. Bridgeport Financial is a full-service debt collection agency that was founded in 1994.
Sawin & Shea
NOVEMBER 15, 2023
However, it is important to note that before bankruptcy is declared, lenders can still come after you to get you to pay off the unsecured debt. They may use collection agencies , or they may sue you (asking the court to garnish wages, take an asset, or put a lien on your home).
Troutman Sanders
MAY 5, 2022
The CFPB sees wrongful repossessions everywhere. Per the report, recent examinations found that servicers engaged in unfair acts or practices when they repossessed vehicles after consumers took action that should have prevented the repossession. Failing to trigger refunds of GAP protection after a repossession.
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