repossessions
Bank takes back
Repossessions are acts of taking back property when a buyer fails to make payments.
A bank repossesses a car or house when the loan goes into default.
The term appears frequently in financial and legal contexts: The economic downturn led to a wave of home repossessions.
A repossession can also refer to the item itself: The lot was full of repossessions waiting to be auctioned.
Preset standard option
- delinquencyCriminal or neglectful behavior
- arrearsOverdue financial obligations
- overduePast expected arrival
- borrowerOne who takes temporarily
creditor · loan · indebtedness · deficiency · garnishment · insolvency · bankruptcy · nonpayment
Forced departure from rental
- auctionCompetitive public sale
- mortgageSecured home loan
- trusteeOne managing another's assets
- underwaterBelow the surface
Trial venue or sports surface
- judgmentReasoned decision-making capacity
- lienClaim securing debt
- writCourt-issued directive
- summonsFormal court notification
plaintiff · defendant · replevin · statute · injunction · litigation · bailiff · lawsuit
Means of transport
- automobileSelf-propelled passenger conveyance
- carWheeled motor vehicle
- collateralSecurity for debt
- propertySomething owned or inherent
equipment · furniture · boat · motorcycle · RV · aircraft · appliances · electronics
Seizure by authority
- impoundmentOfficial seizure or detention
- forfeitureLoss due to breach
- distraintSeizing property for payment
- levyCompulsory government charge
attachment · sequestration · removal · surrender · taking · appropriation · reclaiming · lockout
Act of getting back
- reclamationRecovery of something lost
- recoupmentRecovery of losses
- reclaimTake back possession
- retrieveGet something back
reacquire · remarketing · resale · rehabilitation · reinstatement
default
Preset standard option
- delinquencyCriminal or neglectful behavior
- arrearsOverdue financial obligations
- overduePast expected arrival
borrower · creditor · loan · indebtedness · deficiency · garnishment · insolvency · bankruptcy · nonpayment · charge-off
eviction
Forced departure from rental
underwater · mortgagee · lender · bank-owned
court
Trial venue or sports surface
summons · plaintiff · defendant · replevin · statute · injunction · litigation · bailiff · lawsuit · sheriff
vehicle
Means of transport
- automobileSelf-propelled passenger conveyance
- carWheeled motor vehicle
- collateralSecurity for debt
property · equipment · furniture · boat · motorcycle · RV · aircraft · appliances · electronics · inventory
confiscation
Seizure by authority
- impoundmentOfficial seizure or detention
- forfeitureLoss due to breach
- distraintSeizing property for payment
levy · attachment · sequestration · removal · surrender · taking · appropriation · reclaiming · lockout · reinstatement
retrieval
Act of getting back
- reclamationRecovery of something lost
- recoupmentRecovery of losses
- reclaimTake back possession
retrieve · reacquire · remarketing · resale · rehabilitation · reinstatement
repossessionsacquisitions
Things newly gained
purchases · grants · gifts · disbursements · allocations
repossessionsfull ownership
payoffs · ownership · redemptions · retentions · reinstatements
- repossession agentRecovers defaulted collateral