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Can a creditor report a debt for a vehicle returned for mechanical problems?
Wiki User
∙ 8y ago
Unless the car qualified under the lemon law, YES. Type in "Lemon Law + "your state"in your browser.
Wiki User
∙ 8y ago
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What are the laws about selling cars in Colorado?
Laws on private sale on a vehicle with mechanical problems
Bankruptcy discharge and my creditor has refused to collect the vehicle due to its mechanical condition can I fix it and keep it with no further financial liability or them collecting it later on?
If they send you a lien satisfaction then it's yours.
Can a creditor place a lien on a vehicle you once owned but sold?
If you transferred the vehicle to a friend or family member for less than fair market value in order to avoid a creditor the court can nullify the transfer and the creditor can place a valid lien on the vehicle.
How long does a creditor have until they repossess a vehicle?
A creditor can repossess a vehicle at any time after a default(late payment, lack of insurance, etc.) occurs on the contract.
What mechanical problems are there on a used 1999 Lincoln navigator?
There are several problems that can arise on a used 1999 Lincoln Navigator. These problems include: air suspension issues and excessive rotor wear due to the weight of the vehicle.
What can you do about problems with an as-is used car you have had for two months?
Fix it yourself. You obviously bought it 'as is', so there is no warranty and no guarantees that the vehicle is free from mechanical failures.
Does collision auto insurance cover auto defects?
Collision coverage covers a loss due to a collision, i.e. damage to your vehicle caused when your vehicle hit an object, or an object hit your vehicle. Defects and mechanical problems are not covered.
In the state of Texas can a creditor put a lien against your home for a repossessed vehicle?
The answer is yes, if the creditor brings you to court on the matter.
Vehicle title not returned after vehicle was paid off?
yes
Can a creditor's lawyer place a lien on a financed vehicle in the state of Texas?
When you signed the contract to finance the vehicle, the creditor put a lien on the vehicle. In the rare event that this was not done, it can be done later in some cases.Also, a creditor can place a lien on an already financedvehicle if there is more equity in the vehicle than the amount of the original loan. Generally, a creditor who obtains a judgment lien against you can arrange to place that lien against any property you own in order to satisfy the lien.
How will you know what you still owe the creditor after a repossession?
The amount you will owe the creditor will be the amount of your auto loan (including repossession fees, interest, and collection charges) minus the amount the vehicle sold for at auction. The creditor will notify you of the amount due in writing after they auction off the vehicle.
How do you get your vehicle back from a creditor after filing bankruptcy papers with the court?
All property in BK that is not exempted by state and/or Federal law has to be surrendered to the trustee. A vehicle is secured property and will be returned to the lender, or sold depending upon the circumstances. A car which is covered by exemptions, but is in default for payment, is usually returned to the lender. In some cases the lender will allow the debtor to reaffirm the loan and establish terms to catch up on missed payments .Property is not automatically returned to the person who filed BK.
