What would you like to do?
Can a lender take your tax return until the debt is settled after you voluntarily surrender your car and you make payment arrangements with the them?
NOT unless they get a judgementand attach your returns.
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When a lender takes over ownership of a property from an owner who has failed to make loan payments?
Yes, they can. Legally, the car you financed is owned by the lender. If you fail to make your payments and then refuse to surrender the car, you are depriving its rightful own…er of their property and have converted the vehicle to your own use. That qualifies as auto theft. Added Answer: Most likely the lender cannot. First, private parties do not file "warrants" like an arrest or search warrant. They may file complaints alleging criminal offenses in some jurisdictions. Second, finance companies do not "own" the car that they finance. This is a common misconception. The purchaser of the car "owns" the car subject to a lien on the title for the amount outstanding on the loan. Certificates of Title (or of Ownership depending on the particular state's motor vehicle law terminology) are issued to purchasers in the name of the purchaser as the owner. The finance company is not named as the owner. Usually, the certificate of title has a place for the lien of the finance company to be noted on it, so that it cannot be transferred without a payoff of the lien. Since the person refusing to surrender the vehicle is the owner of the car, he cannot be found guilty of felony theft of something he himself owns. Most states govern repossession of automobiles within their own motor vehicle laws or go by Article 9 of the Uniform Commercial Code. The common rule is that an entity having a security interest in property such as a car, is entitled to repossess the property without court permission provided it can be done without a breach of the peace. It would be best to determine whether an individual state's criminal or motor vehicle laws specifically state that a refusal to turn over an automobile to the lien holder constitutes a crime in any way. It probably is not auto theft, because the purchaser, not the finance company legally owns the car. There might be some provision somewhere regarding interference with the lien holder's lien. If an owner sells the automobile and fraudulently avoids paying the lien, he could be charged with fraud, but most likely not auto theft.
Answer AS far as your credit goes there isn't any a repo is a repo it stays on your credit for seven years.A voluntary repo can save you $200-300 in repo fees .Yo…u are still charged all the fees related to preparing the car for auction and auction fees etc. which run between $500-700 and up.And of course that is added to the balance after the the car is sold.
The DVLA takes many different payment methods for car tax. The DVLAcar tax can be paid by a bank transfer, cash or a credit card. Apayment proof is required before application… for car tax. For moreinformation you can call DVLA directly at 0870 025 0121
Which family deployable checklist will prompt you to make sure that you make arrangements for your car payments?
Repossession That is a repossession. Anytime the lender get's the car back instead of the money agreed to on the contract, it's a repossession. It will show as …a voluntary repossession. And hurts the credit. Doing it Doing it does not relieve you of any deficiency between the amount the car gets sold by the bank for and the amount you owe. However, you would save many of the costs that the bank would have to expend, (fee's, towing, etc.,) that would become part of the amount you owe (hence make that possible deficiency bigger) in a "normal" repossesion. It is definately better, ABSOLUTELY ALWAYS, to co-operate, even work with the lender if you cannot make payments and would end up with an involuntary repossession. And when you do this "possession in lieu of forced repossession", you may be able to get them to agree to any number of things: Perhaps even waiving any deficiency; very possibly along with allowing you some time to sell it yourself - which is cheaper to all than having to have a broker and such involved, and can get substantially more for the car than it being sold in a bankers wholesale auction.
Repossession . \nBad idea!! This is called a voluntary repossession. Your credit will be ruined for 7 years, and you will still be responsible for the difference in what th…e bank sells the car for and the balance on the note. Go to the bank and sit down and work out new payments. Sell the car yourself and borrow the difference if you are upside-down on the loan. Have someone possibly take over the payments. Do whatever is necessary to avoid a repossession.
Making Payments After Returning a Car No, you do not have to make payments HOWEVER.....once they sell the car you still owe the left over balance. Just because you don't have …the car anymore DOSEN'T mean you didn't borrow the money #2 No you do not have to make payments after returning a car as long as you are ok with having a repossesion on your credit history and as long as your ok with the finance company filing a judgment against you for the amount left owed after the sale of the returned vehicle.
Which family deployabilty checklist will prompt you to make sure that you make arrangements for your car payments?
Which family deployability checklist will prompt you to make sure that you make arrangements for you car payments?
A family's finance deployability checklist will prompt you to make arrangements for car payments.
Which family deployability checklist will prompt you to make the arrangements for preporation of your family's tax return?
A family's finance deployability checklist will prompt you to make arrangements for car payments.
Can the dealership seize your car for defaulting on the downpayment while you are still making your payments on time to the lender?
%FOLLOWUPS% seize your car for defaulting on the downpayment.... default is default. What does "default mean default" mean??? Can someone answer the …question a little clearer than default means default. If I defaulted on the the down payment then the dealership should cancel the contract, not hold my car. Okay, I did not have the down payment of 9k when they presented the checks. You are lucky you're not in JAIL, I think... If I default on the car note, I will have a repo on my credit and I do not want to do this. I just would like to have my car back while I am paying on it. I dont see it happening. Unfair? Im afraid I would do the same. I would give you your PP back as that is NOT covered by the contract. keeping it is also against the law. It is called CONVERSION. Also,I came in to buy a used car on their lot but they said I could not get financed for the used car because of my credit. A new one they could finance me for easier. You had a chance to leave without buying a car. The fact that you wrote 9K in hot checks doesnt say much for your honesty OR your willpower. Have you consulted a LOCAL attorney about this matter?? I just want to know where my personal stuff is. Tell the dealership that you want to get your PP. Give them your keys to the car. If that doesnt work, call an attorney, tell them ONLY that you have been repoed and cant get your PP back. Stay away from all the other issues. I am not sure what my rights are. What state are you in? I suggested you contact an attorney because I am NOT an attorney and an attorney in your state will/should know the laws in that state. I just would like to have some idea of where my car is and who if so, is driving it. You dont need to know where it is or if anyone is driving it. All you can legally demand is your PP. Some state laws say the lender must notify you when/where they will sell the car but none say you have to know where it is stored. They would not be smart to let anyone drive the car until this is all settled. Toooo much liability. I think that is fair????? When thinking about "fair", always turn the problem around and put yourself in the opposite position. It usually looks much different from there.
Answer According to the contract you signed when you bought the car, you should surrender it any time you are in default. Sooo, what difference does a day, a few day…s or a month make? The UCC in every state says the lender can demand the debtor make the collateral available to be picked up after default. Hahahaa , never happens. ANSWER?? TODAY.
If you still owe a considerable amount on your car that isn't running should you continue to make the payments and insurance or voluntarily surrender it or sell it and take out a loan for the balance?
Answer . \nSell or continue to make the payments. Do not let the car be repossed. This would hurt your credit and is the last thing to do.
Can a collection agency take you to court if you have not returned their calls or made payment arrangements but you send small monthly payments which they deposit?
Answer Yes. It is a common misconception that a creditor or collector cannot pursue legal action if any payment from the debtor is accepted. … Once a contract is in default the lender or collector can take whatever steps allowed under the laws of the debtor's state to recover monies owed.
Yes, there is no difference of application of debt owed whether a vehicle is voluntarily surrendered by the borrower or the lender takes steps to recover the vehicle. … The borrower is responsible for all costs associated with the vehicle after it has been sold at public auction. If the vehicle has been damaged and cannot be sold under such conditions the borrower will be responsible for the entire balance of the loan plus fees and penalties. The lender has the right to pursue litigation to recover monies owed and if granted a judgment can execute it against property belonging to the debtor.