Thread: I'm scared, frustrated, don't know who to go to anymore
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Old 02-25-2012, 12:44 AM   #330
Andrew H.
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Quote:
Originally Posted by Jyster View Post

He is right, and you are wrong. A business can not take something of yours without the courts permission.
Quote:
Repossession is generally used to refer to a financial institution taking back an object that was either used as collateral or rented or leased in a transaction. Repossession is a "self-help" type of action in which the party having right of ownership of the property in question takes the property back from the party having right of possession without invoking court proceedings. The property is then sold on by either the financial institution or 3rd party sellers. The extent to which repossession is authorized, and how it may be executed, greatly varies in different jurisdictions (see below).
From: http://en.wikipedia.org/wiki/Repossession
Last edited by Andrew H.; 02-25-2012 at 12:46 AM. Reason: formatting
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