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Repossess

usgb/ˌriːpəˈzes/Volume
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Financial ContextPlay
Used in contexts where payment obligations have not been met, often linked to loans and finance agreements. SlideIf the debtor doesn't settle his debt, the creditors will repossess the goods.
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Legal ProcessPlay
Repossession involves a legal process and rights, usually by a financial institution or lender. SlideThe company initiated repossession proceedings for the overdue equipment.
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Negative ConnotationPlay
The word often carries a negative feeling, particularly for the person experiencing repossession. SlideHaving her motorcycle repossessed was a low point in Jenna’s life.