Stop Worrying. It’s Going To Be Ok.

Potential property repossession can shake Tennessee residents

On Behalf of | Feb 26, 2014 | Asset Forfeiture, Firm News

When Tennessee residents are burdened by debt, one of their greatest fears can be that their possessions will be taken from them. Property repossession can happen to individuals who find themselves in difficult financial situations, and the action can shake their circumstances even further. As a result, many parties may fear credit card and other loan companies that may threaten repossession or other actions.

Capital One credit card company has recently caused a stir by implicating in their terms of service that they may pay personal visits to card holders with outstanding balances. These terms suggested that representatives could come to a person’s home or place of employment in order to discuss debt issues. While these actions do not appear to be against any laws, company representatives are still not allowed to conduct harassing behaviors toward card holders.

A company representative, however, stated that such a visit would likely only arise if a situation required the repossession of certain property. Though this clarification makes the situation seem a bit less daunting, having a visit due to repossession efforts likely does not often give individuals peace of mind. This situation may not only give cause for concern of potential repossession, but card holders who may not be at risk of such actions may wish to ponder their affiliation with companies that present questionable terms of service.

Property repossession can be a difficult situation to experience and is just one of the possible outcomes of significant debt. However, an individual may be able to put forth efforts to halt repossession and maintain their property. If a party wishes to attempt such an action, information on Tennessee state laws concerning repossession may be able to shed light on their situation and allow them to move in a more positive direction.

Source: Los Angeles Times, Capital One says it can show up at cardholders’ homes, workplaces, David Lazarus, Feb. 17, 2014