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 Posted: Fri Mar 23, 2007 5:08 am |
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Can they come to my office to repossess my car? Is hard collection allowed at all?
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saikat
Joined: 28 Aug 2006
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| Posted: Fri Mar 23, 2007 5:12 am |
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Unfortunately YES. Hard collection is allowed for secured debt.
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stanley
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| Posted: Fri Mar 23, 2007 5:15 am |
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Thanks for your prompt response Stan, I appreciate it.
Is there any way to stop them?
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saikat
Joined: 28 Aug 2006
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| Posted: Fri Mar 23, 2007 5:22 am |
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They will always try to get it at your home first. If you keep the car in a garage, are hiding it, or if they are otherwise unable to get it - then they will do a stake out and take it whenever/wherever they can.
They are generally able to go onto your employer's parking lot to get the car, UNLESS your employer tells them to get off the property. Usually by the time a boss/manager/security goes out to see what's happening, they've already got the car and driving away with it.
Since a repo guy usually doesn't get paid unless they actually get the car, they do work very hard to get it. I have seen them wait outside a person's house at 5AM until she pulled out of the garage, they followed her to Jewel and took the car while she was inside shopping.
If you think your account may be in danger of a repo, your best bet is to call the lender and make some sort of arragements before that actually happens. While you have the car, you still have some cards to play with. Once they get the car, all the cards are in their hand and they will be very hard to work with.
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DebtCruncher
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| Posted: Fri Mar 23, 2007 6:02 am |
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Good suggestion by Debt Cruncher, make some arrangements with your lender.
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stanley
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| Posted: Fri Mar 23, 2007 5:48 pm |
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To reposses property in oklahoma you can ask the repossesser to leave your property and force them to go to court to get a replevin order
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ssgnewtonj
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| Posted: Fri Mar 23, 2007 6:58 pm |
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True. Most states will say that a reposessor cannot create a breach of the peace. So if you run outside with a baseball bat and threaten to get in a fight, the repo guy should leave before he breaches the peace.
However, when a lender has to go to court to get a replevin order, who pays the court costs? I guarantee the lender will tack all those costs onto the loan balance. (Plus in Illinois a corporation cannot file pro se, so the attorney will throw $350 on there too). It could end up costing you lots of money to put up such a fight, and in the end they'll get the car through court order anyway.
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DebtCruncher
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| Posted: Sat Mar 24, 2007 1:16 am |
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They can come to your job and repossess your car. Maybe if you make payment arrangements with the creditor, you should be okay.
I didn't realize this but I can borrow money out of my retirement to pay for a car that is about to be repossessed. That might be an option you want to look at. It will cost you as you will be penalized for it.
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Alexandra
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| Posted: Sat Mar 24, 2007 3:21 am |
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They will usually repo it when your are least expecting it. It is not hard to find out a persons routine, especially if you have a general routine that you follow everyday. That shopping trip one has been done more than once. Any place they do it is embarrassing, you should call the lender and try to work something out if you can, if you want to keep the vehicle. Goodluck.
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fedupinpa
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