the.com/repossession
Capitalism's version of tag, you're it — except the bank always wins.
means The act of a lender taking back property—like a car or house—because the borrower stopped making payments.
from Built from 're-' (again) plus 'possession,' from Latin 'possidere' (to hold, to own, literally to sit atop something as master of it). The word itself is plain bureaucratic Latin-via-French machinery — the drama was added later by finance.
- legal basis
- lenders can reclaim without suing if peaceful
- midnight timing
- tow trucks often strike while you sleep
- credit damage
- stays on report for seven years
- redemption window
- some states let you buy it back fast