What happens to repossessed property?

Answer by  Kat123 (591)

Yes, you can get it back. But, you have to pay what ever amount you owe to the repossess. Then, you get it back.

Answer by  Kattie (598)

It depends. If you were given advance written notice of the repossession you can only get your property back if the creditor agrees. If you were not given notice of the repossession you can get it back if you pay the appropriate amount within fifteen days.

Answer by  tamarawilhite (17883)

Repossessed property is typically held onto by the repossessing firm for several days until it is delivered to the owner. It may be sold in public auction or put back on the lot (like a car) or the market (for houses).