Repossessions

Repossessions involve the retrieval of property or assets by a lender when a borrower defaults on a loan. This typically applies to secured loans where the asset, such as a vehicle or equipment, serves as collateral. Repossessions are carried out in accordance with legal and regulatory guidelines, ensuring that the process is conducted professionally and respectfully. The goal is to recover the value of the outstanding debt by reclaiming and often selling the collateral asset.