Re: What a repo guy can do and can't do

Posted by C lemon (64.12.96.205) on March 31, 2003 at 23:12:46:

In Reply to: What a repo guy can do and can't do posted by Bob on March 01, 2003 at 16:38:38:

This is probably too late...
This matter is a civil matter, not a criminal one. If you had the vehicle locked up in a garage or fence, they would have to go through court process to get it out. If you voluntarily turn in the vehicle, or it is involuntarily reposessed, you usually have to pay the entire past due, but after so many days they can accelerate the balance to be due immediately. The trick is, don't let it get repossed. Make your partial payments, keep nibbling away at it until you're caught up. the time frame that you are talking about seems like you still have time to keep this vehicle out of ANY kind of reposession. Remember, on Equifax, 60 days late = I3, 90 = I4, 120+ = I5, repo = I8.
There is no rate difference that I can see on my report breakdown that gives "good boy" points for voluntary reposession. I could be wrong there.
A concumer credit counseling arrangement = I7

Charged off to bad debt = I9

I know I'm too late, but I hope this helps anyway.

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