Repossessions happen out of the blue, according to the complaints.
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Historically, auto delinquencies and repossessions climb when unemployment rises and the economy slows.
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The calls also protect consumers, Kim said, often preventing home foreclosures and car repossessions.
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The expense pushed about 2159,2114 customers into delinquency and led to 25,000 wrongful vehicle repossessions.
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Rapidly spiraling poverty, unemployment, and homelessness with record repossessions, while billionaires pay 17 percent income tax?
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Wells Fargo was also aggressive in repossessing vehicles: Some customers endured multiple repossessions, the report said.
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The law protects service members against certain civil proceedings, including vehicle repossessions, during active military service.
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All of the onscreen "repossessions," of which there are not few, are rendered with alarming, gory realism.
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Wells Fargo is also suspending residential property foreclosures, evictions, and involuntary automobile repossessions for the time being.
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Finally, she said, the bank estimated the insurance may have contributed to 20,000 wrongful repossessions, not 25,000.
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Repossessions are rare by international standards, with lenders pushed to restructure loans or sell them to non-bank entities.
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Some repossessions occurred even when HSBC's own records suggested that the borrowers might be protected servicemembers, the Justice Department said.
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The added cost of insurance pushed 274,000 customers into delinquency, and led to at least 20,000 wrongful repossessions, according to the Times.
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Wells Fargo said on Friday it was suspending residential property foreclosure sales, evictions and involuntary automobile repossessions due to the coronavirus outbreak.
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Among those protesting are groups like the left-leaning Repossessions Stop and Den Plirono (I Won't Pay), as well as right-wing groups.
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This would include a freeze on foreclosures, evictions, repossessions, utility disconnects, garnishments, default judgments and concessions of judgments, administrative offsets and negative credit reporting.
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The expense of the unneeded insurance, which covered collision damage, propelled 274,000 bank customers into delinquency and resulted in almost 2846,219 wrongful vehicle repossessions.
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Tens of thousands of homeowners are afraid of repossessions, which may result in many more homes on the market and a further drop in values.
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On March 11, DGCA clarified that some of the entities included airports, fuel vendors, tax authorities and customs departments, a move that could further complicate repossessions.
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The bank said it may have charged as many as 570,000 auto borrowers for insurance they did not want, leading to an estimated 20,000 wrongful repossessions.
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Final repossessions of properties also dropped overall, but did increase in 20163 states and the District of Columbia, including Massachusetts, Alabama, New York, Virginia and New Jersey.
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Repossessions still remain below the levels seen during the global financial crisis and during a previous recession in the early 1990s, when they exceeded 25,000 per quarter.
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The levels of repossessions and rent in arrears stabilised and are declining, albeit the levels are still high and may affect the sustinablity of revenues going forward.
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The cost of the unnecessary insurance pushed around 274,000 customers into delinquency and resulted in nearly 25,000 wrongful vehicle repossessions, the article said, citing the internal report.
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To smooth repossessions, Major World insists that recipients of its in-house loans have a GPS tracker always on in their cars, so they can easily be traced.
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He said there had been only 500 repossessions this year and none in 2015, when his leftist Syriza party came to power, compared with thousands under previous governments.
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Disputes may still happen — especially if a family is dividing up debt or tax liability — but ultimately a will can prevent things like foreclosures, vehicle liens, and repossessions.
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Air Lease's risk management framework is viewed as sufficient, particularly in the context of the strong historical track record of minimizing and appropriately managing past-due payments and repossessions.
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Italian banks have largely held onto loans backed by property and are now seeking to manage these assets more actively, as repossessions take years and judicial sales curtail their value.
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The third-largest U.S. bank has now repaid about $10.2 million to roughly 860 service members and their co-borrowers for improper repossessions, under a settlement announced in September 2016.
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Still, widespread repossessions could deliver a stinging hit to the economy, as Americans struggle to get to work or go about their daily lives in areas with limited public transportation.
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Now he has joined the tens of thousands of Greeks fighting to save their homes as a sudden wave of repossessions has struck this year, prompting mounting protests across Greece.
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It is part of the U.S. government's effort to ensure that military personnel are not penalized for serving their country, including legal actions to stop improper home foreclosures and car repossessions.
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Opposition parties argue that while repossessions remain rare in Ireland by international standards - banks are pushed to restructure loans instead - so-called "vulture funds" are more likely to seek a swifter resolution.
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Similar "debt traps" — the result of poor financial awareness, years of loose regulation of lenders, costly repossessions and tough laws on bankruptcy — also help fuel support for extremist politicians in poorer areas.
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The fine on the repossessions came a couple of weeks after Wells paid a $185 million penalty plus $5 million to pay back consumers for losses occurred on fake accounts created by employees.
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Or they can choose Chapter 227, which usually requires five years of payments to creditors before any debts are eliminated, but blocks foreclosures and car repossessions as long as debtors can keep up.
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It said the violations included exceeding a 6-percent interest rate cap on loans, failing to accurately disclose service members' active duty status to courts, and failing to obtain court orders before conducting repossessions.
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The number of properties with a foreclosure filing, which includes default notices, scheduled auctions and bank repossessions, jumped 24 percent in October compared with September, according to a new report from Attom Data Solutions.
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The disclosures come a week after the bank said it charged 570,000 auto borrowers for insurance they did not want, pushing 274,000 of them into delinquency, and leading to at least 20,000 wrongful repossessions.
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The bank said it will deal with giving relief in each situation on a 'case-by-case' basis for the following products: The bank also said it has paused foreclosure sales, evictions and repossessions.
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Last week, the bank admitted it forced redundant car insurance on more than 800,000 car-loan borrowers, earning the company $73 million in ill-gotten gains while causing a quarter-million delinquencies and 25,000 wrongful auto repossessions.
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"The dramatic reduction in global travel demand is already increasing financial pressure on airlines, which Fitch expects will result in increased lease deferrals or restructurings, airline bankruptcies, and ultimately, aircraft repossessions," the ratings agency said in a statement.
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Monday's accord covers repossessions from 2008 to 2010, when HSBC sold its car lending and servicing business to a unit of Spain's Banco Santander SA. That unit settled similar charges for more than $10.5 million in February 2015.
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The expense of the unneeded insurance, which covered collision damage, pushed roughly 2000,22013 Wells Fargo customers into delinquency and resulted in almost 214,2000 wrongful vehicle repossessions, according to the 21-page report, which was obtained by The New York Times.
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NAIROBI (Reuters) - The Nairobi car auctioneer hopefully scanned empty rows of rickety plastic chairs in a dusty lot for more bids but saw only too many vehicles and not enough buyers, an increasing problem as Kenya's economy slows and repossessions pick up.
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"We believe that the mortgage-to-rent scheme will play an important role in the resolution of long-term mortgage arrears, reducing potential repossessions and thereby limiting the need for additional state housing," Diarmaid Sheridan, an analyst at Davy Stockbrokers, wrote in a note.
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Filed on Thursday in federal court in St. Paul, the lawsuit accuses Chase Auto Finance of wrongful repossession, conversion of consumers' property and violations of the U.S. Fair Debt Collection Practices Act (FDCPA), which bars repossessions unless the lender has a right to the property.
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That letter would follow one sent on Tuesday by Representative Maxine Waters, the top Democrat on the House Financial Services Committee, who wants to know how Wells Fargo wrongly charged roughly 570,000 customers for auto insurance they did not need, leading to unwarranted delinquencies and car repossessions.
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That letter accompanied one sent by Representative Maxine Waters, the top Democrat on the House Financial Services Committee, who wants to know how Wells Fargo wrongly charged roughly 570,000 customers for auto insurance they did not ask for or need, leading to unwarranted delinquencies and car repossessions.
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The bank updated disclosures on issues it discovered in auto lending, saying it had tacked on an additional $241 million for customer compensation on top of the $212 million announced earlier, related to a practice where it forced customers auto insurance that in some cases resulted in vehicle repossessions.
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The country's auto hire purchase business has bottomed out since the middle of 813, Thawee said, adding that it was likely to recover with a modest growth of 281-21 percent during the rest of the year, due to improving car sales, fewer car repossessions and low interest rates.
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LSL CCD operates a repossessions asset management business and a property management business for multi-property landlords and is a leading property specialist, providing services to national and global institutions.
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Borrowers who are upside down are also more likely to default on loan payments, resulting in more repossessions for lenders who then must deal with uninsured damage to repossessed vehicles.
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Operation Repo (formerly known as Operación Repo) is an American television program that depicts the world of car repossession with a team that portrays fictionalized tales of repossessions from California's San Fernando Valley.
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LSL's asset management companies are market leaders in the sale of residential properties on behalf of corporate clients. In 2016 they managed 2,556 repossessions utilising a network of up to 1,471 estate agency branches nationwide.
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Kevin Agar is a Carlton-based owner of a fledgling magazine who struggles to make ends meet. As his financial situation turns desperate, he finds work assisting a television repair man with repossessions. Agar's parents live in the suburb of Balwyn.
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The existence and handling of repossessions varies greatly between jurisdictions. In most jurisdictions outside of the U.S., self-help is limited to real estate, and otherwise the right of possession can only be enforced by a court or other official agents.
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In the Republic of Ireland, a bailiff () is an official appointed by the Revenue Commissioners who is involved with the enforcement of judgments, including evictions and repossessions, and the collection of unpaid tax. A bailiff is subordinate to a sheriff.
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Murphy was appointed to the High Court in April 2014. She currently serves on the Superior Courts Rules Committee. She has heard cases including those involving aspects of criminal law, judicial review, company law, employment law, and repossessions. She regularly presides over homicide and sexual offences cases.
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Ken Cage is an American television celebrity on the Discovery Channel's Airplane Repo. Cage is often put in precarious situations while relieving debtors of their unpaid assets. He is often joined by his side kick Danny Thompson as together they search, hunt, and run down boats and airplanes for various banks. He has thousands of repossessions of various assets to his credit.
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A wave of bank closures took the life savings of many unemployed workers and retirees, as every neighborhood bank in Detroit went out of business. The Federal Deposit Insurance Corporation, established by Congress to secure bank deposits and protect people's savings, had not yet been established. By 1932, foreclosures, evictions, repossessions and bankruptcies were commonplace, and the unemployed felt despair.
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Harvard Report Subprime ARMs only represent 6.8% of the loans outstanding in the US, yet they represent 43% of the foreclosures started during the third quarter of 2007. During 2007, nearly 1.3 million properties were subject to 2.2 million foreclosure filings, up 79% and 75% respectively versus 2006. Foreclosure filings including default notices, auction sale notices and bank repossessions can include multiple notices on the same property.
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The Civil Enforcement Act, S.A. 1994, c.C-10.5, is a law in Alberta, Canada. The law gave responsibility for seizures, evictions, repossessions, and enforcing court orders to authorized civil enforcement agencies. Sheriffs' Offices throughout the province closed, but The Office of the Sheriff - Civil Enforcement was created under the Court Services Division of Alberta Justice to monitor the civil enforcement agency activities and respond to complaints.
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The Civil Enforcement Act, S.A. 1994, c.C-10.5, is a law in Alberta, Canada. The law gave responsibility for seizures, evictions, repossessions, and enforcing court orders to authorized civil enforcement agencies. Sheriffs' Offices throughout the province closed, but The Office of the Sheriff - Civil Enforcement was created under the Court Services Division of Alberta Justice to monitor the civil enforcement agency activities and respond to complaints.
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Nichols' anti-government views developed and grew over the years. Nichols spent most of his adult life in the Lapeer and Sanilac County areas of Michigan where mistrust and resentment of the federal government was common, especially after bank repossessions of many farms in the 1980s.Stickney, p. 91. Neighbors said he attended meetings of anti- government groups, experimented with explosives and got more radical as time went on.
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131 the total terms of repayment usually being 3 or 4 years. Failure to maintain regular payments meant repossession and the equipment was offered for sale. There are a number of documented cases of these repossessions occurring. All engines owned by the Hiring Company carried a brass plate giving a reference number, it was a term of the agreement that this plate could not be removed until the final payment had been made and ownership transferred.
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Responding to the lower court's fears about transferring cases involving routine repossessions and evictions into the Federal Court system, the Court instructed that "reasonableness is still the ultimate standard" under the Fourth Amendment.Camara, 387 U.S., at 539. Saying that "we doubt that the police will often choose to further an enterprise knowing that it is contrary to the law",Soldal, 506 U.S., at 72. the Court rejected the notion that this case will unleash a wave of new litigation.
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The council is now exploring more piecemeal ways of bringing in development and Labour leader Jeremy Corbyn praises Preston for its "inspiring innovation". Since city status was awarded in the Queen's Jubilee year, Preston was targeted by a number of developers. Residential developments were particularly popular with new apartments planned in and around the city centre. Many of these developments however are still struggling to find buyers for these apartments, and there are rising numbers of repossessions.
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Consumer advocates and plaintiffs testifying in legal proceedings have at times alleged that rent-to-own stores routinely repossess merchandise when a consumer is close to acquiring ownership. At the time of a 2000 FTC survey, individuals who engaged in rent-to-own transactions reported a “low incidence of late-term repossessions,” which the FTC suggested might be due to the reinstatement rights mandated in most states, as these rights allow consumers to reinstate this type of contract after repossession.
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The Court Funds Office also deals with a large unclaimed balance fund (£35m). This is where money has been paid into a CFO account and lain dormant for a period of 10 years. Money can be left through a case collapsing, companies going into liquidation during trial; the result of house repossessions (the bank makes more than the debt from the sale but can't trace the original owner) and by the parties failing to progress or complete the action. The Court Funds Office is based in Glasgow.
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The church site, as a centre for Christian worship, extends to 627 AD, and the present mainly Victorian-era church incorporates medieval elements. The Domesday Book, of 1086, records Ilkley (Ilecliue/Illecliue/Illiclei/Illicleia) as being in the possession of William de Percy 1st Baron Percy. The land was acquired by the Middelton family of Myddelton Lodge, from about a century after the time of William the Conqueror. The family lost possession through a series of land sales and mortgage repossessions over a period of about a hundred years from the early 19th century.
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The early part of Major's premiership coincided with a recession, which saw unemployment hit 3 million at its peak along with a raft of business closures and home repossessions. Inflation had also reached 10.9% in mid-1990. The recession had a knock-on effect on the government's fiscal position, as they had to spend more (to cover the increase in unemployment benefit claimants) at a time of declining tax intake. Furthermore, the government's commitment to the European Exchange Rate Mechanism (ERM) constrained its ability to cut interest rates and thereby stimulate the economy.
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The term negative equity was widely used in the United Kingdom during the economic recession between 1991 and 1996, and in Hong Kong between 1998 and 2003. These recessions led to increased unemployment and a decline in property prices, which in turn led to an increase in repossessions by banks and building societies of properties worth less than the outstanding debt. Since 2007, those most exposed to negative equity are borrowers who obtained loans of a high percentage of the property value (such as 90% or even 100%). These were commonly available before the credit crunch.
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A petition mill is a fraud in which the perpetrator poses as a financial advisor, sometimes as a credit counselor or paralegal, filing hastily prepared bankruptcy documents in the name of victims who come to the advisor as clients. The bankruptcy filing is often both incomplete and inappropriate for the victim's condition; and, often, the victim does not even realize that a bankruptcy has been filed. Victims are people in financial trouble who believe they are becoming clients of a professional operation. The fraudster promises to make the foreclosures, evictions, repossessions, high interest rates on loans, and other debt problems go away.
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The strangely named Credit (Repossession) Act [1997] regulates repossessions in New Zealand. This Act replaced the limited repossession sections in the Hire Purchase Act [1971] Section 47, Credit (Repossession) Act [1997] (now repealed). The Act outlines the rights of the debtor, the steps required for repossession, the creditors right of entry, as well as steps the creditor must take once they have repossessed goods. When the Act was passed, it gave protection to all goods subject to a hire purchase agreement, but it was amended in 1999Section 3(1), Credit (Repossession) Amendment Act [1999] to limit its protection to only the purchase of consumer goods.
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The roots of discord remained, however, and in some ways increased as Mugabe's rule became increasingly autocratic into the 21st century. In the early 1990s, a Land Acquisition Act was passed, calling for the Mugabe government to purchase mostly white-owned commercial farming land for redistribution to native Africans. Matabeleland has rich central plains, watered by tributaries of the Zambezi and Limpopo rivers, allowing it to sustain cattle and consistently produce large amounts of cotton and maize. But land grabbing, squatting, and repossessions of large white farms under Mugabe's program resulted in a 90% loss in productivity in large-scale farming, ever higher unemployment, and hyperinflation.
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Governor Hogan signed into law an Executive Order, "Temporarily prohibiting evictions of tenants suffering substantial loss of income due to COVID-19, and additionally prohibiting certain repossessions, stopping initiation of residential mortgage foreclosures, prohibiting commercial evictions, and allowing suspension of certain lending limits", written to remain in effect "until the state of emergency [was] terminated and the proclamation of the catastrophic health emergency [was] rescinded, or until rescinded, superseded, amended, or revised by any subsequent order(s)." In entertainment, The Stronach Group and the Maryland Jockey Club made the announcement that Preakness associated InfieldFest 2020 at Pimlico Race Course would be canceled, with planned return in 2021.
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However, members were still unable to afford dues, and by 1932 the Great Depression had nearly caused NADA to fail. The organization's leadership took measures to save costs, which included relocating the organization's headquarters to reduce rent expenditures. In 1933, NADA published its first "Official Used Car Guide", providing used car values for 21 regions of the United States to 40,000 subscribers. NADA's membership was 30,000 by 1934. During Prohibition, the association advocated on behalf of dealers who were affected by vehicle repossessions of violators of liquor laws, and in the mid-1930s, NADA established a standard for appraising used cars, and NADA began educating dealers about the sale of used cars.
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The program is led by Tony (Wass Stevens), a gruff man that insists that Ava take the program seriously as to do otherwise would just raise the likelihood that the demon would return, as repossessions will frequently happen. Participants will ultimately be tested by wearing a necklace that invites the demon back into their body. If they can pull the necklace off and reject the demon, they graduate since this shows that they are strong enough to deter future possessions. At one meeting Ava meets Hazel (Annabelle Dexter-Jones), a fellow ex-possessed person that wants her demon to return since she enjoyed its presence and felt that it was "special" for both of them.
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In the United States, repossessions are carried out pursuant to state laws that permit a creditor with a security interest in goods to take possession of those goods if the debtor defaults under the contract that created the security interest. In particular, all 50 U.S. states and the District of Columbia have enacted (with minor variations) Article 9 of the Uniform Commercial Code, which generally permits security interest holders to repossess goods if a debtor is in default and the repossession can be conducted without a breach of the peace.Section 9-609 of the Uniform Commercial Code Being "in default" means that the debtor has failed to fulfill his or her obligations under the contract. The most common forms of default resulting in repossession are failing to make required payments and failing to maintain adequate insurance coverage.
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Protestors outside Anglo Irish Bank during protests against the bank bailout in April 2010 Having guaranteed the six main Irish banks in September 2008, the Minister for Finance, Brian Lenihan announced on 21 December 2008 that he would seek to recapitalise Ireland's three main banks, Allied Irish Bank (AIB), Bank of Ireland (BoI) and Anglo Irish Bank. Under the plan the Government would take €2 billion in preference shares in each of Bank of Ireland and Allied Irish Bank and €1.5 billion in preference shares in Anglo Irish Bank, giving it a 75% control of the latter. On 11 February 2009, Lenihan announced the provision of two €3.5 billion bailouts to AIB and BoI as part of his government's recapitalisation scheme. The plan would also see the Minister appoint 25% of the directors at each bank, whilst the banks had agreed to provide a 30% increase in mortgages for first time buyers and a 10% increase in loans to small and medium businesses as well as to hold-off on repossessions of mortgage holders for twelve months after they fall into arrears.
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The minimum statutory entitlement for paid holidays was increased from 4.8 to 5.6 weeks per annum, and Child Benefit was disregarded in calculating income for Housing and Council Tax Benefit as a means of improving work incentives and the incomes of many low-income families. Parents with children up to the age of 16 were given the statutory right to request flexible working arrangements. Extra penalties for employers paying wages below the national minimum were introduced, while the September Guarantee was extended to 17-year-olds in 2008. The Mortgage Repossessions (Protection of Tenants Etc.) Act of 2010 created protection for unauthorised tenants. The Marine and Coastal Access Act 2009 granted new powers to tackle erosion and "underwrote a path to run round England's coastland", while the Community Energy Saving Programme (2009) obliged energy suppliers and generators to deliver energy efficiency measures in certain low income areas. Compulsory personal, social and health education was introduced in 2009. The Additional Paternity Leave Regulations 2010 provided parents with the option to split the year's maternity leave the mother could then take from her employment, allowing parents greater flexibility with childcare arrangements. An extension of 10–15 hours free nursery provision for disadvantaged 2-year olds was also carried out.
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