When a borrower fails to make funds on their auto mortgage, the lender might repossess the car. Along with the lack of the car, the borrower may additionally be liable for repossession charges. These charges can range relying on the lender and the state through which the repossession happens, however they’ll typically quantity to a number of hundred {dollars}.
For debtors who’re struggling to make ends meet, repossession charges could be a vital monetary burden. Nonetheless, there are some things that debtors can do to attempt to get repossession charges waived.
