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The only one who can "repossess" IS one who has a lein. NO Lein, NO repo. No Lein, NO CO-SIGNOR.
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∙ 8y ago
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Can a car be repossessed with title and no lien on it?
no
Can a cosigner have a car repossessed if the loan has been in arrears?
yes
Can your car be repossessed if there is no lien holder on title?
no
What happens when a car is repossessed and you are the cosigner?
You will also be liable for any deficiency balance
If a car was voluntary repossessed and the cosigner was not notified is the cosigner still responsible?
Yes. If you signed the loan, you are still legally responsible for it.
Can the lender put a lien on another car if a cosigner refuses to pay another car loan?
no
Can your car be repossessed if there is not a lien on your car you were not behind on your payments?
If you have no lien on your vehicle then no one has a legal right to repossess it. If you're not behind on the payments there would be no reason for the lender to reprocess the car in the first place. It is hard to believe you have a loan on a car without a lien. The car stands behind the loan. If there's no lien on the vehicle then the car is not involved in the loan and cannot be repossessed.
Can a car be repossessed if there is a lien holder on title but there is no actual loan?
hi
How can the cosigner of a car immediately have possession of it after it was repossessed by the bank?
When you cosign for anyone you are taking 100% responsibility for the payments on that car. If the person that gets the car doesn't keep their payments up it will be repossessed by the bank with an option for the cosigner to take over payments or sell the car and pay back the loan. Marcy
How bad does it affect the cosigner's credit if the borrower has the car voluntarily repossessed?
It has the same effect on the credit.
As a cosigner can you have a vehicle repossessed without affecting the cosigner credit rating?
Nope.
Is there a time limit in which a car can be repossessed?
As long as there is a lien on the vehicle the lienholder has the right to repossess the property
