Unscrupulous repossession syndicates are taking advantage of police reports to artificially increase the prices of repossessed vehicles and provide potential buyers with a false sense of security regarding legal matters. This unethical practice was uncovered through various advertisements on social media platforms where repossessed vehicles were being offered for sale.
According to NST, these ads highlighted that the vehicles came with police reports, suggesting that they could be used without encountering any issues with law enforcement.
Typically, repossessors file a standard report with the police when attempting to recover vehicles from loan defaulters. This report primarily serves as a reference for the bank and includes essential details like the time and location of repossession, as well as the storage facility where the vehicle will be kept. However, these syndicates have devised a deceptive tactic, coercing loan defaulters into filing reports using a customized template.
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