Taken From Info Barrel
If your car is up for repossession
you’ve probably been haven’t been paying your loan payment
for several months. Though all of the letters and annoying phone calls from your finance company are probably driving you up a wall you’d probably rather put up with them then live without your car. Even if you’ve tried everything with your finance company to try and stop repossession if you didn’t make the payments they’re going to issue a repo order. Don’t worry, there are still ways you can delay or even stop repossession even after a repossession order has been issued.
They best method would probably be to simply call your finance company
. If you keep the lines of communication open with your finance company and they know you’re willing to work with them then they’re less likely to even issue a repossession order at all. Even if they already have calling them and asking them to delay the repo for a period of time may actually work.
Another of the most common methods to stop repossession is to keep your car somewhere it can’t be found. So the logical thing to do is to keep it at a friend’s house. Most finance companies keep your original loan application that may have references, and addresses of a friend or family member so avoid using those addresses as a safe haven for your car.
In addition to the obvious you might want to think outside of the box to stop repossession. If you know ahead of time that you’re soon going to be behind on your payment contact your finance company and tell them you are thinking of refinancing your car you want a letter stating the payments are current. Hold onto this note and if the unfortunate happens and your car is assigned for repossession you can show the “repo man” the letter and explain to them that were down at the finance company that morning and everything was taken care of. It’s a long shot and probably won’t stop repossession but will probably give you a little time to think of something else.
These methods may not work in every case but at the least the repossession firm will have to think twice before they get your car. Keep in mind to that even though you are going to try your best to stop repossession the repossession firm that has you car on their list will probably try just as hard to get your car. This is how they make a living. The not only want to get paid but they want to keep a good relationship with the finance company so you can rest assure they will try everything possible to get your car. |