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Not sure about Russian law but here in the US no one can simply liquidate someone's assets on the side of the road for some unrelated debt. Cars are repoed because they are directly tied to debt through lien or some other agreement.
Yep, that's why that is not US. They just started taking a swing on all kinds of swindlers. Previous week Monday they jailed a guy who ran a business that moved out of Russia 50 BILLION dollars. He's considered to have caused damage close to 1 trillion rubles.
They are cracking corruption more and more.
Like I said - it ain't no Kansas, boys and girls.
No, they do not, and should not, have sissy LAW scared of lawyers and "groups" of all flavors. Law should be this way: dura lex, sed lex. Law is harsh, but it's a law.
Much to the delight of the west, Russia switched over 25 years ago to a system in which the power of law is vested in large corporations, who own the debts of people who suddenly became borrowers. This is how that works.
They don't normally bother with anything other than cash, but there's nothing Stopping them. With the public businesses who scan plates and sell that info the law enforcement, we're only one Very Small step away from having LEOs paid by collection agencies to collect things they can use to settle debts. Collect a car with a loan? Cash out what's available (if nothing, turn it over to the lien holder).
They don't normally bother with anything other than cash, but there's nothing Stopping them. With the public businesses who scan plates and sell that info the law enforcement, we're only one Very Small step away from having LEOs paid by collection agencies to collect things they can use to settle debts. Collect a car with a loan? Cash out what's available (if nothing, turn it over to the lien holder).
Although a bit different than instant roadside liquidation due to debt, this is a more serious problem, though does not seem to be very prevalent. There are more than a few documentaries/investigative reports on youtube demonstrating this. Racial profiling seems to play a big part and many of the victims I have seen documented were suspected illegal aliens in southern states.
They don't normally bother with anything other than cash, but there's nothing Stopping them. With the public businesses who scan plates and sell that info the law enforcement, we're only one Very Small step away from having LEOs paid by collection agencies to collect things they can use to settle debts. Collect a car with a loan? Cash out what's available (if nothing, turn it over to the lien holder).
And people would be amazed to find out how many cameras there are reading their license plates as they pass by on their daily routine. If someone wants to find you badly enough, they can. In most cases it's used to find people with outstanding warrants.
Much to the delight of the west, Russia switched over 25 years ago to a system in which the power of law is vested in large corporations, who own the debts of people who suddenly became borrowers. This is how that works.
Which they took after a great example of the most developed country in the world. Russians have saying: durnoy primer zarazitelen. Bad example is contagious.
They don't normally bother with anything other than cash, but there's nothing Stopping them. With the public businesses who scan plates and sell that info the law enforcement, we're only one Very Small step away from having LEOs paid by collection agencies to collect things they can use to settle debts. Collect a car with a loan? Cash out what's available (if nothing, turn it over to the lien holder).
The way car loans are now, most new cars that leave the car lots have no equity. What good that that do when the car has no equity and you give it back to the lien holder? What are they going to do with the car? Probably just give it back to the person who had it originally so they can keep paying on the loan as normal. If they wholesale the car they will even loose more money.
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Russians have saying: durnoy primer zarazitelen. Bad example is contagious.
