Aug. 3, 2012
-- Chances are you rely on your vehicle to get you where you need to go and when you need to go. Whether it’s to work, school, the grocery store, or the soccer field. But if you’re late with your car payments, or in some states, if you don’t have adequate auto insurance, your vehicle could be taken away from you.
When you finance or lease a vehicle, your creditor or lessor has important rights that end once you’ve paid off your loan or lease obligation. These rights are established by the contract you signed and the law of your state. For example, if you don’t make timely payments on the vehicle, your creditor may have the right to “repossess”
or take back your car without going to court or warning you in advance. Your creditor also may be able to sell your contract to a third party, called an assignee, who may have the same right to seize the car as the original creditor.
BadCredit MD, a free On-line information guide that helps people that have bad credit in the United States, Canada, Ireland, United Kingdom, India, South Africa, Australia, and New Zealand is advising consumers on their consumer rights and the steps they can take if their vehicle is in jeopardy of being repossessed by their bank or financing institution at http://www.badcreditmd.com/how_to_stop_my_car_from_being_...
To learn more about your rights and specific repossession requirements in your state, contact your state Attorney General or local consumer protection agency. You can get the phone numbers for these organizations in your phone book, through directory assistance, or through Web directories.
If you need help in dealing with your contract, consider contacting a credit counseling organization. Many credit counseling organizations are nonprofit and work with you to solve your financial problems. “Nonprofit”
status is no guarantee that an organization’
s services are free, affordable, or even legitimate. In fact, some credit counseling organizations charge high fees, which may be hidden, or urge consumers to make “voluntary”
contributions that can cause more debt.
Bad CreditMD has been in business helping consumers with bad credit since April of 2007 and is a subsidiary of Enticing Designs Publishing. The staff has various backgrounds in the financial and mortgage industry. This self-help site has over 500 pages of credit advice and articles. Its staff has researched its information with various governments around the world to provide the most comprehensive and accurate information free of charge.
To inquire about Enticing Designs Publishing please contact us at email@example.com.