How to Remove a Repossession From Your Credit Reports

Better Credit Blog

In lending terms, this is called repossession. Read on to find out how to remove an invalid repossession from your credit report. A repossession could happen in two ways: You could surrender the vehicle voluntarily and retain some control over the process.

CFPB Moves to Thwart Illegal Auto Repossessions

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) is moving to thwart illegal repossessions in the heated auto market. Press release Compliance Auto loans

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

How to Handle Vehicle Repossession

Nerd Wallet

If you think your car could be repossessed, you might feel that you’ve reached the end of the road. But there may still be ways to avoid repossession or, barring that, lessen its damage. The article How to Handle Vehicle Repossession originally appeared on NerdWallet.

INDIANA REPOSSESSIONS DURING COVID-19 PANDEMIC

Indiana Consumer Law Group

It is my hope in these trying times that creditors exercise restraint and avoid repossessions altogether. Unfortunately, I am afraid that repossessions are still going to occur during the Coronavirus Covid-19 pandemic. First, repossessions are likely prohibited.

Financial Center First Credit Union Repossession

Indiana Consumer Law Group

The lawsuit alleges that Financial Center First Credit Union repossessed our client’s car. The post Financial Center First Credit Union Repossession appeared first on Indiana Consumer Lawyer Blog.

Car Payments and Car Repossession

Sawin & Shea

Is a car repossession looming in your future? Car repossession is one of the many reasons people contact the Indiana bankruptcy attorneys here at Sawin & Shea. Here’s some good news: You don’t have to just give up and allow your car to be repossessed.

CFPB Warns Auto Finance Companies About Inadvertent Repossessions

Troutman Sanders

On February 28, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a bulletin and accompanying press release , highlighting an issue that the agency has written about frequently over the past several years: inadvertent repossessions.

Car Repossessions During the COVID-19 Crisis

Sawin & Shea

I’m here to talk to you today about repossessions. I know currently with this current COVID-19 crisis, many car lenders have voluntarily suspended repossessions. There is no state mandate keeping them from repossessing cars. Transcript.

How Can a Secured Creditor Repossess Collateral Without Breaching the Peace?

Jimerson Firm

The quickest and cheapest way for a secured creditor to take possession of the collateral is by self-help repossession. In Florida, a secured creditor may use self-help repossession without going to court, provided it does not “breach the peace.” § 679.609(2)(b), Fla.

Can you keep a car once the lender starts repossession efforts?

Roths Child Law

When you fall behind on payments, the lender who financed the purchase might decide to repossess the vehicle. How does repossession work? Repossession usually starts with the lender warning and then formally notifying the vehicle owner about arrears on their payments.

CFPB Supervisory Report Finds Unlawful Auto Repossessions, Breakdowns in Credit Report Disputes

Consumer Finance

Today the Consumer Financial Protection Bureau (CFPB) released its Supervisory Highlights report on legal violations identified during the CFPB’s supervisory examinations in the second half of 2021. The report details key findings across consumer financial products and services.

Can you keep a car once the lender starts repossession efforts?

Roths Child Law

When you fall behind on payments, the lender who financed the purchase might decide to repossess the vehicle. How does repossession work? Repossession usually starts with the lender warning and then formally notifying the vehicle owner about arrears on their payments. If they don't quickly resolve the issue, the financial company will then likely start repossession efforts. . The safer and faster approach will typically involve attempts to avoid repossession. .

Santander Sued by Indiana Consumer for Breach of Peace Repossession

Indiana Consumer Law Group

over a repossession that allegedly did not comply with Indiana law. Specifically, the repo agent is alleged to have breached the peace in repossessing the plaintiff’s vehicle. Indiana law, like most states’, permits a lienholder to repossess a car when the owner defaults on the note. One of those requirements is that the repossession absolutely must be conducted without a “breach of the peace.” PRESS RELEASE.

Consumer Financial Protection Bureau Settles with Nissan Motor Acceptance Corporation for Illegal Collections and Repossession Practices

Consumer Finance

The Consumer Financial Protection Bureau issued a consent order against Nissan Motor Acceptance Corporation, which services auto loans and leases originated by Nissan and Infiniti dealerships nationwide. Press release Auto loans Enforcement

Nissan Becomes Most Recent Target of CFPB Ire: Auto Finance Company Enters into $4 Million Consent Order for Alleged Unlawful Repossession Acts

Troutman Sanders

Specifically, the CFPB alleged that Nissan violated the Act in four ways: By repossessing vehicles between 2013 and 2020 even though customers had already made payments or taken action that should have prevented repossession; By requiring customers to pay a $7.95

Tri-Force and Ally Financial Sued for Wrongful Repossession in Indiana

Indiana Consumer Law Group

The lawsuit alleges that agents of Tri-Force breached the peace when they attempted to repossess a vehicle from our client and then, when our client physically resisted the repossession (as was his legal right to do), engaged the police to coerce our client to relinquish possession of the vehicle and thereby accomplish the wrongful repossession. Our office has noticed a disturbing trend of more aggressive repossessions in 2017.

CFPB Supervisory Highlights: Auto Loan Servicers Should Re-Examine their Repossession Fee Policies

Consumer Financial Services Law

Auto loan servicers need to pay careful attention to their repossession practices and particularly, their policies concerning repossession fees. The clear message from the CFPB’s Supervisory Highlights is that examiners are focused on repossession activities, “including whether property is being improperly withheld from consumers, what fees are charged, how they are charged, and the context of how consumers are being treated to determine whether the practices are lawful.”

CFPB Supervisory Highlights Report Spotlights Issues Found in Debt Collection Exams

Account Recovery

The Consumer Financial Protection Bureau issued its latest Supervisory Highlights report yesterday, which offers violations uncovered by the regulator during supervisory exams that were conducted during the second half of 2021.

Finding a Second-Chance Auto Loan

Nerd Wallet

Ads for “second-chance auto loans” may catch your attention if you need to buy a vehicle and have bad credit, past bankruptcy or previous car repossession.

What Is a Bad Credit Auto Dealer?

Nerd Wallet

Bad-credit car dealerships sell and finance vehicles for people with low credit scores, no credit, past bankruptcies, car repossessions or other credit issues.

What Is the Automatic Stay in Bankruptcy?

Nerd Wallet

The automatic stay temporarily halts most judgments, collection activities, foreclosures and repossessions of the consumer’s property, which is known as the bankruptcy estate.

How Do Car Loans Work?

Nerd Wallet

Until you fully repay the loan, the lender holds the title to the car and can repossess it if you fall behind. Car loans work by providing a lump sum of money for you to buy a car. Then, it’s yours to drive, while also making monthly payments on the loan (with interest) over time.

Private Bailiff tenant evictions up by 39%

UK debt collections

In May, the government said it will add £10m every year to the legal aid budget available for tenants and leaseholders fighting evictions and repossessions. Tenant evictions by bailiffs in the private rental sector (PRS) have increased by 39% say latest government figures released.

NMAC Pays $5M In CFPB Consent Order; Third-Party ‘Deprived’ Consumers of Lower Pay-by-Phone Options

Account Recovery

The Consumer Financial Protection Bureau yesterday announced it had entered into a consent order with Nissan Motor Acceptance Corp.,

Can creditors keep hounding you after you file for bankruptcy?

Roths Child Law

They may try to repossess items that you own, continue to hound you through your work or neighbors or even contact you directly. There are all kinds of pitfalls associated with being in financial disarray, including getting bothered incessantly by their creditors.

What is an Emergency Bankruptcy Filing?

Sawin & Shea

If you’re in an emergency situation such as wage garnishment, eviction, or pending repossession filing an emergency bankruptcy may be right for you.

Landlord Tenant Evictions rise by 207%

UK debt collections

Additionally, Mortgage repossessions by bailiffs increased by 756% from 45 between April and June to 385 between July and September. The latest statistics released by the Ministry of Justice have shown there were 4,853 landlord possessions across England and Wales between July and September.

Surviving Debt – Free Book During Coronavirus Pandemic

Debt Free Colorado

Vehicle Repossessions. Free book about dealing with debt during COVID-19. The National Consumer Law Center is offering free access to the digital version of its book, Surviving Debt, during the COVID-19 emergency.

Which type of bankruptcy should you file?

Roths Child Law

Secured debts, like your mortgage and car note, cannot be cleared through Chapter 7, and you could be leaving yourself open to foreclosure or repossession if you’re unable to catch up with your payments. The decision to declare bankruptcy is one that you should never take lightly.

Auto Lender Santander Agrees To Pay $5.5M Over Debt Collection

Collection Industry News

The assurance of discontinuance filed in Suffolk Superior Court alleges Santander Consumer USA failed to give certain consumers sufficient information about the calculation methods for any deficiencies left on their auto loans after their cars were repossessed. Consumers struggling with auto loan debt should get clear information from lenders to help them navigate repossession and other collection actions,” Attorney General Maura Healey said in a statement. Source- site.

Bankruptcy and Tax Refund Strategies

Sawin & Shea

Perhaps you can’t wait to file for bankruptcy because you have a repossession pending or a garnishment that’s about to hit your paycheck. We can talk to you about your tax refund and how a repossession or garnishment could impact it.

What are the disqualifiers to filing for Chapter 7 bankruptcy?

Roths Child Law

Debt can quickly mount if you don't aggressively address it early on. Many consumers who find themselves unable to pay their bills look to different debt relief options to gain a fresh financial start, including bankruptcy.

2 types of debt that are included in bankruptcy

Roths Child Law

If you fail to make the payments, the creditor could repossess the asset to help cover the balance due to them. The need for a fresh financial start is sometimes one of the most pressing matters in a person’s life.

What Does a Chapter 13 Repayment Plan Look Like?

Sawin & Shea

It stops creditors from pestering you and halts repossessions and foreclosures while you work on creating a repayment plan that’s reasonable for you to repay based on your income and assets. It’s a smart choice to file for Chapter 13 bankruptcy.

Partner with certified Debt Collection Agency

Debt Recoveries

Established in 1961, the Institute of Mercantile Agents Limited (IMA) represents collectors, investigators, process servers and repossession agents throughout Australia. The cashflow of every business is an important factor to keep the operations of the business afloat.