Divide this text into sentences and correct mistakes: - What's going on guys? This is Nichkhun Sigalas, who deals with credit repair. So today, we're gonna talk about car repossessions or voluntary car repossession. - The question I get a lot is, "I owe too much on my car, I can't afford the payment, I want to give it back. What should I do, Nick?" Well, let's talk about that. - So, let's say you do give the car back, okay? Let me give you an example of the worst thing that could happen. - Let's say you owe twenty-five thousand dollars on your car. You give it back and you call the car company or Chase or Bank of America, wherever it's gonna be, and you say, "Hey, come and pick it up. Look, loudly do it," okay? - But let's realize they're not in the car business. So the second you do that, they're gonna turn around and they're gonna get it over to a wholesaler. They're gonna give it off to an auction. - That auction, for a fee, is gonna sell it back to the marketplace, probably to a used car dealership. - That used car dealership obviously needs to make a profit, so they're gonna buy that car pretty cheap. - So, let's say in this scenario, you owed twenty-five thousand dollars. You turn around, you voluntarily or how did voluntarily repossess the car. The car goes to auction and they'll sell it off for fifteen thousand dollars. - Now, keep in mind, now that you have or the bank has collected that fifteen thousand dollars, they can come after you for the difference. - Not every state, but probably half the states in the US, you got a ten thousand dollar deficiency balance here. This...
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Car repossession lookup Form: What You Should Know
If the owner is not a registered Indiana vehicle, the lien holder, if any, must provide the vehicle certificate application, if an Indiana application is needed to do so. The lien holder need not submit all the information necessary to obtain title from the BMV. Vehicle Title Repossession | IN.gov Information on Vehicles Repossessed | IN.gov: Vehicle title repossession: Information on vehicles repossessed. Learn more about this. Vehicle Repossession — Repossession of Title Applications — IN.gov: Notice by the Depository Trustee (DT) — Notice from DT Notices from the DT. DT holds vehicle titles in escrow until the vehicle title has been obtained or transferred by payment of a fee and a lien release has been executed. The DT holds vehicles in escrow for several reasons: (1) to provide time for the holder or lessee to obtain title to the vehicle from the bank, if any and to remove any liens or encumbrances that may accompany the vehicle before the vehicle title is issued, provided the liens or encumbrances have not accrued at the end of escrow; (2) to ensure the vehicle title will be available for the registered owner after the vehicle title is obtained and to protect the title from unauthorized use, if any; and (3) to insure the proper payment of fees and lien release if required. Notice by the Depository Trustee (DT) — Notice from DT Notice from the DT. DT holds vehicle title in escrow until the vehicle title has been obtained or transferred by payment of a fee and a lien release has been executed.
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