However, lenders are required to inform delinquent subjects of a notice to sell.

If you hide your car, the As an alternative to repossession, the lender may file a legal request known as a replevin, where the lender asks the court to issue an order requiring the debtor to pay off the remaining loan balance. Financially, there is really no way out of the matter. http://www.condor-lift.com/product.asp?ItemID=1011Cramer, Maria. In most cases, repo agents can come onto your property but can’t enter a secure structure, meaning they can take a car from a driveway but not from a closed garage.

Budgeting. It would be difficult for a repo man to sneak up on someone in a huge flatbed truck like this.

The moment you walk inside your house and close the door, the repo agent could sweep in and claim the vehicle.For the trickier subjects, the repo agent will take matters up a notch and survey the streets around the neighborhood. This ordinary looking pickup truck is really a heavy-duty stealth repo truck. Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article. The main objective is to simply fulfill the orders of the lending banks and do what it takes within the law to seize each outstanding vehicle. These days, many lenders require that all new vehicles be equipped with such devices. First of all, it’s usually illegal to intentionally hide your car to dodge rightful repossession. If you are able to get it back, it’s always expensive.

If you have specific questions about a repo vehicle, certified and approved third party vehicle inspections are also available. If you are on the verge of repossession, your first instinct might be to try to hide your car from the repo man. Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article.

You might simply walk outside and find that the vehicle is missing. A repossessed vehicle that you could not pay down would probably not be a good enough reason for an option as drastic as bankruptcy.You can become a repo agent if you have the drive to carry out the tasks that the job entails. Also, it might not work as the lender can secure a court order to sell your car anyway.It’s important to understand that even if your car gets repossessed, it’s likely that you’ll still owe the lender money. Your state might have consumer protection laws that allow you to redeem your vehicle. They might offer to let you defer on or even skip a payment or work out some other solution with you — but only if you take action before you miss a payment.Most states allow lenders to repossess cars as soon as the loan goes into default — that includes missing just a single monthly payment.

© victorass88 / Getty Images/iStockphoto Once you park the car and head into the store or eatery, the repo agent will then be able to retrieve the vehicle.The most aggressive way for a delinquent party to avoid repossession is to keep a car locked inside a garage at all times. You benefit in the form of lower monthly payments and the lender benefits by stringing out the loan, which means collecting more interest for more years — plus they don’t have to deal with the headache of repossession.If you’re struggling with car payments, you’re probably struggling across the board. You would essentially pay the back balance and go back to where you started with the loan. Hiding your car so the repo man cannot easily find it may seem like an option, but this is only a temporary fix to an ongoing problem, and repossession agents have worked through every trick in the book.

However, bankruptcy itself can cost hundreds of dollars in legal fees and leave a blemish on your credit for up to 10 years. In reality, however, if you couldn’t keep up with monthly payments, you likely won’t have the cash to buy it back in full.If all else fails, filing for bankruptcy before the lender sells your car will automatically halt the sale. They can’t clamp or tow your vehicle if it’s inside a locked garage for instance.