16 Mar Facing Car Repossession?
Facing Car Repossession?
No one ever apply for Car Finance with the intention of skipping payments. Unfortunately, your financial situation can change any time. Then the what’s start…
What if I can’t pay my car at the end of the month?
What will the creditors do?
What will happen if they repossess my car?
If you find yourself falling behind on payments, there are certain do’s and don’ts that can make your situation a lot more manageable. Missing payments and short payments don’t mean that you are at the end of the road. There is a solution. But you must act now. Don’t wait until it’s to late to save your vehicle.
How does repossession work?
Before the bank can repossess your car there is a legal process that must be followed. The bank can only legally claim possession of your vehicle in the following two ways.
This is most credit providers’ preferred method of repossession. It’s an easier and quicker method for the bank to recover the vehicle.
This is what you must know. You are under no obligation to sign a voluntarily agreement and hand over your car. Don’t be intimidated or bullied by them. You have rights. You have the right to apply for Debt Review. DON’T SIGN ANYTHING! If you are not sure take a picture and send it to our WhatsApp number 084 227 7764.
The final step is by court order. This will allow the vehicle financier to reclaim your vehicle. A court ordered letter will need to be delivered by a sheriff of the court or a police officer, and will display the official stamp of the court. If it’s not a court order – DON’T SIGN ANYTHING! If you are uncertain take a photo of the documentation and WhatsApp the photo to 084 227 7764.
Less Debt can help you to legal protect your car from repossession. Contact us today before it’s to late.