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How long can your car be held from you after you have paid the repossession fees and back payments?
Wiki User
∙ 10y ago
The lienholder is generally not required to return the car unless the loan is entirely paid off. They may choose to do so upon receipt of back payments and reposession fees (or any other arrangment they negotiate with you), but that's up to them. If you have a history of sending bad checks, it's reasonable for them to insist on waiting until the checks clear your bank, normally a week or so.
Wiki User
∙ 10y ago
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How far behind on payments can you be before santander US can repossess your car?
Typically when it comes to car repossession, a customer has to worry about their car being taken when they have missed three payments. Sometimes repossession can be held off by just contacting the company and reassuring them they will get their money.
Who pays the rest of the finance if your car has been repossesssed?
I most cases the debtor (you) will be held liable for the deficiency after the car is sold at auction, as well as for any repossession fees. This may vary in your state.
Can one be held criminally liable for concealing a vehicle repossession in Wisconsin?
yes. its stealling.
How can you get your car back?
After the creditor repossesses the vehicle there is a way to get it back. You can find out where the auction for your car is going to be held and go there and buy it back. I doubt if that will work. If it's a buy-here/pay-here place, they're not going to finance you again. If it goes to auction, it will be a WHOLESALE auction where only licensed dealers can bid. You can get the car back before it is resold by paying off the loan. If you you pay all the delinquent amounts and repossession costs you may be able to convince the lender that you will keep up the payments in the future and get it back.
If you have paid off your loan but you now owe some late fees can the title be held to your car?
If you have unpaid late fees that have accrued, your loan is not paid off. This is why the lender will not release the title. Additionally, if the amount remains unpaid, no matter how small, the lender can put your vehicle up for repossession. It would be sad to lose your car for as little as $100 dollars or less.
When a repossession notice has been issued for a motor vehicle can the registration be renewed and if the car is pulled over by the police will the police hold the car?
A "repossession notice" is a civil matter. A police oficer cannot hold the vehicle for repossession. Unless, there has been a court proceeding and the judge has ordered the vehicle held if stopped. A repossession notice also cannot stop the registration of a vehicle.
Can you repo a car if you have title?
When you purchased the car, you may have received a lien title from the state. This is not a clear title of ownership. The lender in essence still owns the vehicle, at least part of it. It is held in security for the loan. If you are a repossession company or agent, you will be required to have an order of repossession. But, if you are a repossession company or agent, you should already know this.
Can a repossession agent use the permission of a 10-year-old as a legal means to take the vehicle from the garage?
No, a juvenile cannot enter into such an agreement and the repossession agent could be held legally accountable for attempting/taking part in such action.
What is repossession?
It is where a lender (usually a bank or credit union) recovers collateral that is held in a security agreement and hasn't been paid for.In the usual sense, something purchased using a loan is taken back from the buyer because he has not kept up payments for it. Typically this includes cars and other vehicles.Repossession is the practice of reclaiming property on which a sale contract has not been completed. Until the entire sale price has been paid (along with any interest), the original owner has a lien against the property and the legal right to reclaim it. However, some methods of repossession (such as violating private property) may be unlawful. Reclaiming possession of mortgaged property for an outstanding unpaid loan is called foreclosure.
If you have a car loan included in a bankruptcy do you have to continue making payments?
If the vehicle is protected by the state or federal bankruptcy exemption, you can try to reaffirm the loan agreement with the lender. If that's not possible you will be required to surrender the vehicle and will be probably be held responsible for any deficiency and applicable fees after the car is resold.
If a parent cosigns on a car loan with hisher child and the child does not make payments can the stepparent be held responsible or have their credit rating impacted if the payments are not made?
The cosigner is responsible for the loan and payments if the signer does not pay or keep up the payments. Your credit rating can be affected.
Can a repossession agent take a car without telling you where it's being held?
Yes. When the vehicle is repossessed it no longer belongs to you and there is no requirement to tell you where it will be stored.
