Can a boat purchased on a revolving credit account be repossessed?

Sunday, November 8th, 2009

Can a boat purchased on a revolving credit account be repossessed?

Josh F asked:

I bought a boat, and for financing they set me up with the boat’s financing company with a revolving credit account. If I am unable to pay on that account, will they repossess the boat? Or moreso, if I go to debt mediation, can I get a settlement amount and then pay that off and keep the boat?

This entry was posted on Sunday, November 8th, 2009 at 12:00 am and is filed under Debt Mediation. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to “Can a boat purchased on a revolving credit account be repossessed?”

SuperCactus Says:
November 10th, 2009 at 12:39 am

I think they will come and get the boat.

Colt Says:
November 12th, 2009 at 5:02 am

If it’s not a Visa or Master card then if you default, they can repo it.

Pandagal Says:
November 12th, 2009 at 10:49 am

Yes, they can repossess the boat. And yes, it can be renegotiated.

Can a boat purchased on a revolving credit account be repossessed?

3 Responses to “Can a boat purchased on a revolving credit account be repossessed?”

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