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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. This work is generally sub-contracted out to a so called repo man. Repossession is often used against vehicles, as they are more portable and the legal limitations are fewer. Repossession is a complicated and legally fraught matter, with legality being determined by widely varying local and state laws.

External links

• USA FTC Facts for Consumers on Vehicle Repossession
• New Zealand Consumer aid in dealing with Repossession
• FAQ Farm Car Repossession FAQ: question and answer wiki

This article is based on the article "Repossession [3]" from Wikipedia - the free encyclopedia created and edited by online user community. This article is distributed under the terms of GNU Free Documentation License. Here you find the list of authors of this article. The article can only edited within Wikipedia. Edit this article in Wikipedia.