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As a Florida law firm dedicated to helping individuals manage overwhelming debt and avoid serious financial consequences, we often receive questions about voluntary repossession also known as voluntary car repossession or voluntary surrender. This situation usually arises when someone can no longer afford their monthly car payments and fears their vehicle might be taken back by the lender. Instead of waiting for the lender to send a repossession agent, some borrowers choose to voluntarily return the car to the lender in hopes of minimizing damage to their credit and avoiding additional fees or stress. What Is Voluntary Repossession? Voluntary repossession… Read More
Have you been getting debt collection letters and phone calls from an organization you don’t recognize? Chances are your debt may have been sold to a junk debt buyer. There was a time when a company might just give up on collecting debts, particularly small ones, if they couldn’t collect them easily. These days, if a company cannot collect a debt, they often just sell it to a junk debt buyer for pennies on the dollar. At some point, many companies today would like to get a little money rather than expend resources pursuing a hard-to-collect debt. As an added… Read More