When an account falls into default and results in repossession, the impact extends well beyond the loss of the asset. That negative mark becomes part of the borrower’s credit history and can ...

Repossession firms must be licensed in some states. The type of licensing varies. California licenses repossession firms and requires employees to register with the state, while Florida issues ...

In December 2022, 0.75% of all outstanding vehicle loans were assigned to repossession, marking a 22.5% increase from December 2019's 0.61%. This indicates that the number of vehicles eligible for ...

Auto lenders in almost all cases hire a third-party repossession agent to pick up a vehicle when the loan goes into default. Under the law, these third-party repossession companies are agents of ...

Repo Wrongdoing: What is Allowed During a Repossession? By Daniel Ray • Published June 22, 2017 • Updated on June 22, 2017 at 5:16 pm • Published June 22, 2017 • Updated on June 22, 2017 ...