Yes. They can file criminal charges since they are the direct owner of the vehicle since you have defaulted on the loan. When you are in repossession status, you really need to not run from them because they have the power to add your VIN number to the police and report as stolen. You do not want to runaway from the lien holder if you are in default. This can lead to Auto Theft or Grand Theft Auto depending on how much the car is worth
Both are at least Class C and B Offenses in most states. So I suggest you return the car ASAP to avoid of getting charged.
No. But what will be charged on a late fee, will be reflected on something known as your your finance charges. Finance charges will go up if you are late making a payment on your credit card.
Yes.
no because the storage fee that the finance company charged you was what the repo company charged on the invoice. the finance company had no other reason to charge storage fee's they did not store it
Is there a legal limit to finance charges that can be charged in the state of Michigan?
Finance charges-ipp
A finance company could settle the auto loan. You simply need to get in touch with the company and make an offer. Be sure to get any agreement in writing.
Finance cost is the interest charges paid by company to borrow money from open market or debt collected from external sources and also any money spent to get finance for company is also included in finance cost.
$2.99
in my point of view they can charged 36% yearly
The question is, "Why would you worry about a missed payment when you have interest in the vehicle?" The money that you used as your down payment and any payments you have made total your interest in the vehicle. Why are people running from the repo man when in fact you can place the finance company on notice that, if your interest is repossessed, you will file criminal charges in federal court against the finance company and get triple what the car is worth. I guarantee you they won't take it. You can also put a mechanics lien on the vehicle to protect your interest in it.
Finance Credit is a company that no longer operates, having gone bankrupt in 2002. There was much scandal over their closure, due to a criminal investigation into siphoning funds. The founders of the company are currently serving prison time, in Norway, where the company originated.
Only if they do not have the correct paperwork from the finance company whom has the right to repo the vehicle.