Car Repossession – What are my Rights when the Repo Man Comes?
CNBC reports that the tough economic times have taken their toll on the “Repo Man” as well. The creditors who hire the repo men have been trying to cut costs, which has led to a decrease in revenue and jobs in the automobile repossession business. Even though delinquent auto loans are at a record high, creditors are desperate to keep present loans serviceable primarily because the values for repossessed cars (and used cars generally) have fallen, just like real estate prices have during this Great Recession. (more…)
