>In america you can get your car LEGALLY stolen by a private firm if you are having difficulties on your mortgage/debt payments
is that true?
video
http://abcnews.go.com/2020/video/high-tech-repo-man-drone-gadgets-catch-debtors-30097240
>If I can't pay the money for the thing I haven't paid for yet the thing can get taken from me?
Go away fake France
>>72527810
It's called collateral. This isn't an earth shattering concept.
I've heard there are European countries with way worse debt collection laws, like the xlczech republic but yes it's true that you can have a car repossessed if you don't keep up on payments.
Ever heard of vindication and bailiff?
>>72528041
>>72527984
guys i know that but watch that video there >>72527895
i have never seen that happening
You borrow someone's money and give them the title for the car. Once you give them their money back you get the title. You never owned shit.
Also a good way to keep interest rates low.
>>72527810
>legally stolen
>something that you don' t own outright yet
>>72527810
In America, you are a ward of the corporation.
They will finance cars to anyone with a pulse. Don't believe me? Drive to the bad spots in town, new or semi-new cars in the driveways of dilapidated houses and the parking lots of run own apartments.
Unbelievable that people would take on a $400-500 a month obligation when they live in shit hole.
>>72527810
That's not how it works. You borrow somebody's money, they get the title deed as collateral. THEY own the car/house, but you get to use it as if it was yours until you pay the loan off. The collateral exists so you can't nig out and not pay back the loan and keep the property you bought with it.
