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Repossession, Repossession

Contracts that authorize repossession also usually specify additional fines that the consumer must pay to the seller, ostensibly to cover the seller's costs of the repossession and of depreciated value of the object, as the seller is now in possession of a "used" object.In some places self-help repossession is not permitted; the lien holder is required to go to court to obtain an order of replevin.

Many things can be repossessed, but most repossession agencies focus on auto repossession.

Source: Wikipedia > Repossession



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