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Home English FAQs Collections-Creditors Rights Florida

What Is Voluntary Repossession?

Voluntarily returning the vehicle to the creditor may reduce your creditor's expenses in retaking the car, and may reduce the amount you will owe the creditor. But remember, you will still be responsible for paying any deficiency on your loan, and your creditor may still enter the repossession on your credit report.

Other Florida Collections-Creditors Rights FAQs

Q: What Is A Collection Agency?
A: A collection agency is a debt collector, other than the creditor, who regularly collects debts owed to others. This includes attorneys who collect debts on a regular …
Q: Who Is The Judgment Debtor?
A: A judgment debtor is the person against who a judgment has been entered which remains unsatisfied. An unsatisfied judgment is typically reflected in a credit report on … More
Q: How Do I Obtain A Wage Garnishment Against A Judgment Debtor?
A: Under wage garnishment, the employer of a judgment debtor is directed to withhold a portion of the judgment debtor's wages earned (typically up to 25% for a money … More
Q: What Are Creditors Repossession Rights?
A: When you buy a car, truck, or other vehicle on credit, your creditor retains important rights in the vehicle until you have made your last payment. These rights are … More