Repossession fees are charges levied by lenders or recovery companies when a vehicle or other secured asset is taken back due to the borrower’s failure to meet the terms of the loan agreement. These fees can cover various costs associated with the repossession process, including towing, storage, and administrative expenses. For example, if an individual defaults on a car loan, the lender might repossess the vehicle and subsequently charge the borrower fees to recover the costs incurred during the repossession process.
The recovery of funds after a default is crucial for lenders to mitigate financial losses. These fees can significantly impact a borrower’s already strained financial situation. Understanding the circumstances surrounding repossession charges and exploring potential avenues for reducing or eliminating these costs is beneficial for borrowers facing asset recovery.
The following sections will detail strategies and considerations for addressing repossession charges. These approaches involve communication with the lender, understanding legal rights, and exploring available resources to negotiate or potentially eliminate these fees.
1. Negotiate with the lender
Negotiation with the lending institution serves as a primary strategy to reduce or eliminate repossession fees. This approach directly addresses the financial obligations arising from the recovery of a secured asset. The ability to persuade the lender hinges on the borrower’s capacity to articulate the circumstances that led to the default and to propose a viable solution. For example, an individual who experienced a job loss leading to payment delinquency might negotiate a reduction in fees by demonstrating a good-faith effort to resume payments under a modified agreement. Effective negotiation requires a clear understanding of the lender’s perspective, balancing their need to recoup losses with the borrower’s limited financial capacity.
Presenting a well-structured payment plan, supported by verifiable income or assets, is often a crucial element in successful negotiations. The lender is more likely to consider waiving or reducing fees if the borrower can demonstrate a realistic path toward fulfilling the original debt obligations. This might involve consolidating debts, securing a cosigner, or temporarily restructuring the loan terms. Conversely, a borrower who fails to communicate proactively or lacks a tangible plan for repayment may face resistance from the lender, thus diminishing the prospects of fee reduction. It is critical to initiate discussions with the lender as soon as a potential default becomes apparent to maximize negotiating leverage.
In summary, the proactive engagement with the lender through negotiation represents a key step in mitigating the financial impact of repossession fees. The success of this approach hinges on clear communication, a demonstrable commitment to resolving the underlying debt, and a thorough understanding of the lender’s position. While negotiation does not guarantee fee elimination, it offers a potential pathway to a more manageable resolution, ultimately benefitting both borrower and lender by avoiding further financial strain and legal proceedings.
2. Review Loan Agreements
A meticulous review of the original loan agreement is fundamental to potentially waiving repossession fees. The agreement establishes the contractual obligations between the borrower and lender, including the lender’s rights in the event of default. Scrutinizing this document can reveal clauses pertaining to fees, repossession procedures, and borrower rights. For example, the agreement may stipulate specific notification requirements the lender must adhere to before initiating repossession. Failure to comply with these provisions can constitute a breach of contract, providing grounds to challenge the repossession and associated fees. The “how to get repo fees waived” process frequently begins with identifying such discrepancies within the loan document.
Examining the loan agreement also allows for verification of fee legitimacy. Repossession fees must align with those permitted by applicable state laws and as clearly outlined in the contract. Instances of inflated, unsubstantiated, or duplicated charges are not uncommon. If the agreement lacks explicit details regarding the calculation and imposition of these fees, it could weaken the lender’s justification for their assessment. Furthermore, the agreement may contain clauses offering recourse for borrowers facing financial hardship, potentially allowing for fee waivers or payment deferrals under specific conditions. Identifying these clauses is crucial in negotiating a favorable resolution.
In conclusion, a thorough review of the loan agreement is an indispensable step in addressing repossession fees. It provides a legal and factual basis for challenging unlawful or excessive charges, negotiating with the lender, and understanding the borrower’s rights and responsibilities. This proactive measure enhances the likelihood of successfully waiving or reducing repossession fees by empowering the borrower with the knowledge to effectively advocate for their financial interests. Overlooking this crucial step diminishes the ability to challenge fees effectively.
3. Legal Rights Knowledge
Knowledge of one’s legal rights is a cornerstone of any successful attempt to address repossession fees. The ability to navigate the repossession process and challenge associated charges effectively hinges on understanding the legal framework governing secured transactions and debt collection. Without this knowledge, borrowers are vulnerable to potentially unlawful practices and may inadvertently concede rights they are entitled to exercise. The “how to get repo fees waived” process is therefore inextricably linked to a borrower’s awareness of their legal protections under state and federal law. For instance, a borrower unaware that a lender must provide a specific notice of default before repossession might fail to recognize a violation that could invalidate the repossession and its related fees.
The practical significance of legal rights knowledge manifests in several ways. It empowers borrowers to identify deficiencies in the repossession process, such as improper notice, unlawful repossession methods (breach of peace), or the sale of the repossessed asset for less than fair market value. Understanding the Uniform Commercial Code (UCC) provisions related to secured transactions, for example, can reveal instances where the lender failed to comply with its duty to dispose of the asset in a commercially reasonable manner, thereby diminishing the borrower’s deficiency balance and potential repossession fees. Furthermore, familiarity with consumer protection laws, such as the Fair Debt Collection Practices Act (FDCPA), allows borrowers to challenge abusive or harassing debt collection tactics employed during the repossession process.
In conclusion, legal rights knowledge is not merely a theoretical advantage; it is a practical tool that borrowers can leverage to safeguard their interests during repossession. It enables them to identify violations, challenge unlawful fees, negotiate from a position of strength, and, if necessary, seek legal recourse. While navigating the legal landscape can be complex, acquiring a basic understanding of relevant laws and regulations is essential for anyone seeking to mitigate the financial impact of repossession. The effective “how to get repo fees waived” strategy is directly related to understanding and assertively using these legal rights.
4. Document Everything
Meticulous documentation is an indispensable component in any strategy aimed at addressing repossession fees. Creating a comprehensive record of all interactions, agreements, and financial transactions related to the loan and repossession process provides a strong foundation for negotiation, dispute resolution, and potential legal challenges.
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Record of Communications
Maintaining a detailed record of all communications with the lender, including phone calls, emails, and letters, is crucial. This record should include the date, time, individuals involved, and a summary of the conversation or correspondence. For instance, if a lender representative verbally agrees to a payment plan, this agreement should be documented immediately, even if a formal written agreement is not yet in place. This documented record serves as evidence of agreements, discrepancies, or potential misrepresentations, enhancing the borrower’s ability to substantiate claims and challenge inaccuracies during the “how to get repo fees waived” attempts.
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Financial Transaction Tracking
Keeping accurate records of all payments made, including dates, amounts, and methods of payment, is essential for verifying compliance with loan terms and identifying potential errors in the lender’s accounting. This includes maintaining copies of bank statements, cancelled checks, or payment confirmations. For example, if a borrower disputes a late fee, providing documentation showing timely payment can significantly strengthen their case. These records serve as irrefutable evidence when negotiating fee waivers or contesting inaccurate charges.
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Repossession Process Documentation
Documenting every aspect of the repossession process itself, including the date and time of repossession, the identity of the individuals involved, and the condition of the asset at the time of repossession, is vital. Taking photographs or videos of the asset’s condition before and after repossession can provide valuable evidence in case of damage or loss. Furthermore, retaining copies of any notices received from the lender, such as the notice of default or the notice of sale, is crucial for verifying compliance with legal requirements. This thorough documentation can reveal irregularities or violations that may provide grounds for challenging the repossession and associated fees.
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Legal and Professional Consultations
Maintaining records of all consultations with legal professionals or financial advisors is essential for preserving the integrity of legal strategies and financial decisions. This includes documenting the date, time, and subject matter of each consultation, as well as retaining copies of any written advice or opinions received. These records can prove invaluable in demonstrating a borrower’s due diligence and informed decision-making throughout the repossession process, strengthening their position in negotiations or legal proceedings.
In essence, comprehensive documentation serves as a shield, protecting the borrower’s rights and providing a robust defense against potentially unfair or unlawful practices. This meticulous record-keeping provides the evidentiary foundation necessary to support claims, challenge inaccuracies, and ultimately increase the likelihood of successfully navigating the “how to get repo fees waived” process.
5. Seek legal counsel
Engaging legal counsel represents a critical step in the pursuit of waived repossession fees. The repossession process is governed by a complex interplay of state and federal laws, the nuances of which are often beyond the comprehension of the average borrower. Attorneys specializing in consumer protection and debt collection possess the expertise to analyze the borrower’s situation, assess the validity of repossession procedures, and identify potential violations of legal rights. For example, a lawyer can determine if the lender provided proper notice of default or adhered to the requirements for a commercially reasonable sale of the repossessed asset. This legal scrutiny can reveal deficiencies that provide grounds for challenging the repossession and associated fees, directly impacting the “how to get repo fees waived” endeavor.
The practical application of legal counsel extends beyond the initial assessment of the case. An attorney can act as an intermediary between the borrower and the lender, negotiating on the borrower’s behalf to reduce or eliminate repossession fees. Legal representation also provides a significant advantage in court should litigation become necessary. An attorney can file motions, present evidence, and advocate for the borrower’s rights, increasing the likelihood of a favorable outcome. Real-life examples abound where legal intervention resulted in the dismissal of repossession cases or the substantial reduction of fees due to procedural errors or lender misconduct. Furthermore, legal counsel can provide guidance on related matters, such as bankruptcy options, which might offer a broader solution to debt management.
In summary, seeking legal counsel is not merely an optional step but an essential component of a comprehensive strategy to address repossession fees. The complexities of the legal system, coupled with the potential for lender misconduct, necessitate the expertise of an attorney to protect the borrower’s rights and maximize the chances of a successful outcome. While legal representation involves costs, the potential savings in waived or reduced fees, combined with the protection against unlawful practices, often outweighs the expense, especially given the potential for legal fees to be recovered in cases of lender violations. The investment in legal counsel can be the determining factor in a successful “how to get repo fees waived” scenario.
6. Demonstrate Financial Hardship
Demonstrating genuine financial hardship constitutes a pivotal element in the pursuit of waived repossession fees. Lenders are more likely to consider concessions when presented with compelling evidence indicating the borrower’s inability to meet financial obligations due to circumstances beyond their control. This approach leverages the lender’s vested interest in avoiding further losses and maintaining a degree of goodwill.
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Documentation of Income Reduction
Providing verifiable evidence of income reduction, such as termination notices, unemployment benefit statements, or pay stubs reflecting reduced hours, strengthens the borrower’s claim of financial hardship. For example, a borrower laid off from a long-term position can submit official termination paperwork and unemployment documentation to illustrate a significant and involuntary loss of income. Lenders are more likely to entertain fee waivers when faced with irrefutable evidence of a borrower’s diminished financial capacity.
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Explanation of Extraordinary Expenses
Detailing extraordinary expenses, such as medical bills, funeral costs, or unexpected home repairs, can further substantiate a claim of financial hardship. Presenting itemized bills, receipts, and insurance claim denials demonstrates the burden these expenses place on the borrower’s financial resources. For instance, a borrower incurring substantial medical debt due to a sudden illness could present hospital bills and insurance statements to illustrate the significant financial strain. The presence of such unforeseen and unavoidable expenses can significantly sway the lender’s decision-making process.
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Budget Analysis Showing Insufficient Funds
Presenting a comprehensive budget analysis that demonstrates insufficient funds to cover essential living expenses and debt obligations reinforces the borrower’s inability to pay repossession fees. This analysis should include detailed information on income, expenses, and existing debt obligations. For instance, a borrower whose monthly expenses exceed their income can create a detailed budget demonstrating that they lack the financial capacity to pay the repossession fees without sacrificing essential needs. This financial transparency can be persuasive in convincing the lender of the borrower’s genuine hardship.
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Good Faith Efforts to Mitigate Hardship
Documenting any good faith efforts undertaken to mitigate the financial hardship, such as seeking credit counseling, applying for government assistance programs, or reducing discretionary spending, demonstrates a proactive approach to managing financial difficulties. For example, a borrower who enrolled in a credit counseling program can provide documentation of their participation to demonstrate their commitment to financial rehabilitation. This proactive approach can positively influence the lender’s perception and willingness to consider fee waivers.
Successfully demonstrating financial hardship requires a strategic and well-documented approach. Providing compelling evidence of income reduction, extraordinary expenses, and diligent efforts to mitigate financial difficulties can significantly increase the likelihood of securing waived or reduced repossession fees. This approach is integral to “how to get repo fees waived” by presenting a persuasive case for the borrower’s inability to meet their financial obligations.
7. Offer payment plan
Presenting a viable payment plan represents a strategic approach to potentially mitigating or eliminating repossession fees. This action demonstrates a borrower’s commitment to fulfilling their financial obligations and provides the lender with a tangible alternative to incurring further losses through the repossession and sale of the asset.
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Demonstration of Financial Responsibility
Proposing a structured payment plan showcases a borrower’s willingness to take responsibility for the outstanding debt. This proactive approach can positively influence the lender’s perception, suggesting a collaborative effort toward resolving the situation. For instance, offering to pay a portion of the outstanding balance upfront, followed by regular installments, demonstrates a sincere commitment to repayment and can incentivize the lender to consider waiving repossession fees. This willingness to engage in a structured repayment agreement distinguishes the borrower from those who avoid communication or demonstrate a lack of concern for their financial obligations.
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Reduction of Lender’s Risk
A well-defined payment plan reduces the lender’s risk by providing a clear path to recovering the outstanding debt without incurring the additional costs associated with repossession, storage, and sale of the asset. For example, if the borrower can demonstrate the ability to make consistent, albeit smaller, payments over time, the lender may find this preferable to the uncertainty and expense of liquidating the asset. The reduced risk associated with a viable payment plan serves as a strong incentive for the lender to consider waiving or reducing repossession fees as a means of facilitating the repayment process.
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Negotiating Tool for Fee Reduction
The offer of a payment plan can be leveraged as a negotiating tool to reduce or eliminate repossession fees. By presenting a credible plan, the borrower can request that the lender waive the fees in exchange for adherence to the agreed-upon payment schedule. For example, the borrower might propose that the repossession fees be waived entirely if all scheduled payments are made on time and in full. The borrower should also inquire about a reduction in the fees if the repossession has not yet taken place and the borrower is able to make a payment to stop the repossession. This quid pro quo approach creates a mutually beneficial scenario, where the lender recovers the debt, and the borrower avoids the financial burden of the repossession fees.
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Evidence of Financial Capacity
A comprehensive payment plan provides evidence of the borrower’s current financial capacity and ability to repay the debt. The payment plan should be supported by detailed income and expense information, demonstrating the borrower’s ability to meet the proposed payment schedule without jeopardizing their essential living expenses. For example, attaching copies of pay stubs, bank statements, and a detailed budget to the payment plan proposal can provide the lender with a clear picture of the borrower’s financial situation and their ability to comply with the terms of the agreement. This transparency enhances the credibility of the payment plan and increases the likelihood of a positive response from the lender.
The strategic offering of a payment plan serves as a multifaceted approach to potentially resolving the repossession issue and mitigating the associated fees. By demonstrating financial responsibility, reducing the lender’s risk, and providing evidence of the borrower’s capacity to repay, the offer of a payment plan functions as a viable pathway to a more favorable resolution. The borrower should be ready to provide financial documents to demonstrate their current economic state for more likelihood of the creditor accepting the payment plan and the removal of the fees.
8. Explore bankruptcy options
Bankruptcy presents a legal avenue that can directly impact repossession and associated fees. While not a singular method to eliminate repossession fees, the filing of bankruptcy can trigger an automatic stay, which immediately halts most collection actions, including repossession. This stay provides an opportunity to address the underlying debt and potentially negotiate terms that reduce or eliminate repossession fees. Exploring bankruptcy options becomes relevant when other strategies, such as direct negotiation with the lender, prove unsuccessful. For instance, if a borrower faces overwhelming debt and cannot agree on a payment plan, filing for Chapter 7 or Chapter 13 bankruptcy can provide legal protection from repossession and allow for the discharge or restructuring of debt, including repossession fees.
The significance of exploring bankruptcy options within the context of addressing repossession fees lies in its potential to provide immediate relief and long-term debt management solutions. Chapter 7 bankruptcy may discharge eligible debts, including deficiency balances resulting from the sale of a repossessed asset, thereby eliminating the obligation to pay repossession fees. Chapter 13 bankruptcy, on the other hand, allows the borrower to propose a repayment plan over a period of three to five years, potentially reducing the total amount owed and including repossession fees in the repayment plan. In some cases, the value of the repossessed asset may be challenged, further reducing the debt and associated fees. The decision to explore bankruptcy options should be made in consultation with a qualified attorney, as the specific circumstances of each case will determine the most appropriate course of action.
In conclusion, exploring bankruptcy options is a crucial consideration for borrowers facing repossession and struggling to manage their debts. While it is not a simple solution for waiving repossession fees, it provides a legal framework for halting collection actions, discharging eligible debts, and negotiating more manageable repayment terms. The decision to pursue bankruptcy should be made after careful evaluation of the borrower’s financial situation and consultation with legal counsel, as it represents a significant step with potentially far-reaching consequences.
9. Dispute incorrect fees
The act of disputing incorrect fees constitutes a direct and essential element in the process of potentially waiving repossession charges. The presence of inaccurate or unsubstantiated fees within the total amount claimed by the lender provides a justifiable basis for challenging the overall debt and seeking a reduction or elimination of these charges. This course of action requires a meticulous review of all fees assessed and a clear understanding of applicable laws and contractual obligations.
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Identification of Unsubstantiated Charges
The initial step in disputing incorrect fees involves a thorough examination of the itemized list of charges provided by the lender. This examination aims to identify any fees that lack clear justification, exceed contractual limits, or appear to be duplicates. For example, a lender might include charges for services not actually rendered, such as excessive storage fees or unwarranted administrative costs. Documenting these unsubstantiated charges and presenting a detailed counter-argument to the lender forms the basis for a credible dispute. Successful disputation often hinges on the borrower’s ability to provide concrete evidence that the fees are inaccurate or unreasonable.
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Verification Against Loan Agreement and State Laws
Disputed fees must be evaluated against the terms outlined in the original loan agreement and applicable state laws governing repossession. The loan agreement specifies the types and amounts of fees the lender is permitted to charge in the event of default and repossession. State laws may further regulate these fees, setting limits on the amounts charged or requiring specific disclosures. If the lender’s fees exceed these contractual or legal limits, the borrower has grounds to dispute the charges. The process necessitates a comprehensive understanding of both the contractual agreement and relevant legal provisions to effectively challenge the legitimacy of the fees.
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Formal Dispute Communication with the Lender
Once incorrect fees have been identified and verified, a formal written dispute must be submitted to the lender. This communication should clearly articulate the specific fees being challenged, the reasons for the dispute, and any supporting documentation. Sending the dispute via certified mail with return receipt provides proof of delivery and establishes a record of the communication. The lender is then obligated to investigate the dispute and provide a written response. Failure to respond within a reasonable timeframe or to provide adequate justification for the fees strengthens the borrower’s position and may provide grounds for further legal action.
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Escalation to Regulatory Agencies or Legal Action
If the lender fails to adequately address the disputed fees, escalation to relevant regulatory agencies or the initiation of legal action may be necessary. Complaints can be filed with consumer protection agencies or state banking regulators, who may investigate the lender’s practices and potentially order restitution. In cases of significant fee disputes or lender misconduct, pursuing legal action through a lawsuit can provide a means to recover damages and prevent future violations. This step should be considered after exhausting other dispute resolution methods and in consultation with legal counsel.
In conclusion, disputing incorrect fees is an essential strategy within the framework of “how to get repo fees waived.” By meticulously reviewing charges, verifying compliance with loan agreements and state laws, formally communicating disputes with the lender, and, when necessary, escalating to regulatory agencies or pursuing legal action, borrowers can actively challenge inaccurate fees and significantly increase their chances of securing a reduction or complete waiver of repossession charges. The effectiveness of this strategy relies on thoroughness, documentation, and a clear understanding of the borrower’s rights.
Frequently Asked Questions
The following questions and answers address common inquiries regarding strategies to potentially reduce or eliminate repossession fees. This information serves to clarify key aspects of the process and highlight important considerations for borrowers facing asset recovery.
Question 1: What are repossession fees?
Repossession fees are charges levied by lenders or recovery companies to cover the costs associated with repossessing a vehicle or other secured asset following a borrower’s default on loan payments. These fees can include expenses for towing, storage, administrative services, and legal costs incurred during the recovery process.
Question 2: Is it possible to completely avoid repossession fees?
While complete avoidance of repossession fees cannot be guaranteed, strategies exist to potentially reduce or eliminate these charges. These strategies involve proactive communication with the lender, negotiation, understanding legal rights, and, in some cases, exploring legal options such as bankruptcy.
Question 3: What is the most effective initial step to take when facing repossession?
The most effective initial step is to communicate promptly with the lender. This communication should involve explaining the circumstances leading to the default and proposing a viable solution, such as a payment plan or a modification of the loan terms. Early engagement can increase the chances of negotiating favorable terms and potentially avoiding repossession fees.
Question 4: What documentation is essential when attempting to negotiate repossession fees?
Essential documentation includes the original loan agreement, records of all payments made, any correspondence with the lender, and documentation of any financial hardship experienced. These documents provide evidence to support claims and strengthen the borrower’s negotiating position.
Question 5: Can legal representation assist in waiving repossession fees?
Yes, engaging legal counsel can significantly improve the prospects of waiving repossession fees. Attorneys specializing in consumer protection and debt collection can assess the legality of the repossession process, identify violations of borrower rights, and negotiate with the lender on the borrower’s behalf. Legal representation also provides recourse to initiate a legal action, should litigation become necessary.
Question 6: What recourse exists if the lender fails to address disputed fees adequately?
If the lender fails to adequately address disputed fees, the borrower can escalate the matter to relevant regulatory agencies or initiate legal action. Complaints can be filed with consumer protection agencies or state banking regulators, and a lawsuit can be pursued to recover damages and prevent future violations.
The key takeaway from these frequently asked questions is that proactive engagement, thorough documentation, and a clear understanding of legal rights are crucial for borrowers seeking to mitigate or eliminate repossession fees. The successful “how to get repo fees waived” process lies in understanding the rights and taking action. While there is no guaranteed path to complete fee elimination, borrowers are not without options and should utilize all available resources to advocate for their financial interests.
The following section delves into case studies where repossession fees were successfully challenged, providing real-world examples of how these strategies can be effectively implemented.
Strategies for Addressing Repossession Fees
The following strategies outline potential avenues for mitigating or eliminating repossession fees. These tips are presented to inform and equip borrowers with the knowledge necessary to navigate the repossession process effectively.
Tip 1: Initiate Immediate Communication: Engaging with the lender upon facing financial difficulty is crucial. Contacting the lender before a default occurs can lead to a mutually agreeable solution, potentially averting repossession and associated fees. This demonstrates a good-faith effort to resolve the situation.
Tip 2: Conduct a Thorough Loan Agreement Review: Scrutinize the original loan agreement for any clauses pertaining to repossession fees, notification requirements, or borrower rights. Discrepancies or omissions can provide grounds for challenging the fees.
Tip 3: Document All Interactions and Transactions: Maintaining a detailed record of all communications with the lender, payment history, and any expenses related to the repossession process is essential. This documentation serves as evidence in negotiations or legal proceedings.
Tip 4: Explore Legal Recourse Options: Consult with an attorney specializing in consumer protection or debt collection to understand your legal rights and options. An attorney can assess the legality of the repossession process and advocate on your behalf.
Tip 5: Propose a Realistic Payment Plan: Presenting a well-structured payment plan demonstrates a commitment to repaying the debt and may encourage the lender to waive or reduce repossession fees. This plan should be supported by verifiable income and expense information.
Tip 6: Inquire About Fee Itemization: Request a detailed itemization of all repossession fees charged. Scrutinize each fee to ensure it is justified, accurate, and aligns with the loan agreement and applicable state laws.
Tip 7: Understand Deficiency Balance Implications: Be aware that even after repossession and sale of the asset, a deficiency balance may remain. Negotiating the amount of this deficiency balance and associated fees is critical.
These strategies provide a framework for addressing repossession fees proactively and strategically. By implementing these tips, borrowers can increase their chances of mitigating the financial impact of repossession.
The subsequent sections of this article will further explore the practical application of these strategies through case studies and real-world examples.
How to Get Repo Fees Waived
The preceding exploration has detailed various strategies that may assist in mitigating or waiving repossession fees. These strategies encompass proactive communication with lenders, meticulous review of loan agreements, assertive assertion of legal rights, diligent documentation practices, and, in some circumstances, consideration of legal recourse, including bankruptcy. The effectiveness of each strategy hinges on the specific circumstances of the repossession, the borrower’s financial situation, and applicable state and federal laws.
Understanding the complexities of repossession and pursuing available avenues for fee mitigation are essential steps for borrowers facing asset recovery. While success cannot be guaranteed, informed action significantly enhances the potential for a more equitable resolution. Borrowers are encouraged to consult with legal and financial professionals to navigate this process effectively and protect their financial interests, and to follow the steps to know “how to get repo fees waived.”
