Do finance companies normally repo electronic equipment or do they try to negotiate a price with you if defau? - equipment repo financing
Is through the financing of the acquisition of an electronic element, then by default, eventually resulting in the payment of 8 months, the financing of companies usually come repo the item, but is practically useless?
My situation: I have a projector and a digital camera costs $ 2500 for my company in January 2007. It was a sort of "guaranteed loans, the agreement states that the finance company the default theme back on, but if you have not registered against the team. Now I have stopped paying the installments. The team is in good condition, But the resale value is only $ 800. I know that know the cost of hiring a bailiff's probably not a few hundred dollars and the financing of companies that the team is good.
Do you think that the finance company to recover the actual position, or should I try to try them a place to break the number of elements?
The front?
Monday, January 25, 2010
Equipment Repo Financing Do Finance Companies Normally Repo Electronic Equipment Or Do They Try To Negotiate A Price With You If Defau?
3 comments:
Repo is possible under the law, but highly unlikely. 99% of lenders who prefer to renegotiate the terms, and in many cases, so that 10 cents stick used for the rest of the electronic devices. You really want the $ $ $, not the camera.
Make an offer ... can not hurt. If they refuse to say they are "good or" recovery of the camera - I do not know where it all yet.
That, sir, really listening. Remember to keep threats, and is used only as a last resort.
They keep the ball!
Tell the finance company can not, payments and want to negotiate a payment plan. After everything I do I recover the most money, even if it takes longer than expected.
Even if they all temporary equipment problems, using the electronic components that would certainly be very valuable for them. What they would sell on eBay? I do not know much repo, but it seems unlikely.
You do not want the team they want money. You need to regarding what is what is ruining his credit. It will put a lien on his bank accounts and other things that you might be able to negotiate a long-term payment with them.
It seems a bad idea to ruin your credit for this small sum.
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