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If your car was repossessed this afternoon what are your rights and can you get the car back by making the back payments?
Wiki User
∙ 8y ago
CALL the LENDER to find out exactly how much it will cost you. 4-9-623. Right to redeem collateral. 2. Redemption Right. Under this section, as under former Section 9-506, the debtor or another secured party may redeem collateral as long as the secured party has not collected (Section 9-607), disposed of or contracted for the disposition of (Section 9-610), or accepted (Section 9-620) the collateral. Although this section generally follows former Section 9-506, it extends the right of redemption to holders of nonconsensual liens. To redeem the collateral a person must tender fulfillment of all obligations secured, plus certain expenses. If the entire balance of a secured obligation has been accelerated, it would be necessary to tender the entire balance. A tender of fulfillment obviously means more than a new promise to perform an existing promise. It requires payment in full of all monetary obligations then due and performance in full of all other obligations then matured. If unmatured secured obligations remain, the security interest continues to secure them (i.e., as if there had been no default).
Wiki User
∙ 8y ago
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Does a co buyer have rights to the auto loan payments?
The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.
Can a vehicle get repossessed if you are up to date on insurance and all payments?
Not usually, but extenuating or complicated circumstances might apply. I suggest you see a lawyer or consumer rights group (like the BBB).
What if you stop making payments on the vehicle?
It will likely be repossessed and sold at auction, if not redeemed, with the proceeds being applied against the amount owed and subsequest repossession, collections, and legal fees. Keep in mind that you signed a contract. That contract is legally binding, and in most cases, you agreed to suspend many of your rights to property.
Will your car still be repossessed if you are late two or three payments but pay up to date after you get the default letter?
Read that letter carefully. The one that I am most familiar with clearly states that you have 20 days to make any past due payments and if they are paid you may continue with the original contract, BUT if you become delinquent again, they may exercise their rights without giving you any additional notice. That means from now on you had better not miss any payments, not even by one day, or your car could be repossessed.
Does a co-signer have legal rights to a vehicle if they have been making the payments?
Depeding on how the vehicle is titled you may have legal rights to the vehicle even if you aren't making the payments. However, in order to just get it titled in your name then you will need their consent if it's currently titled in both of your names. Very simple answer to all these questions. If your name is on the title, you can have the car. If your name is on the loan, you can make the payments. WHAT if BOTH names on tittle, reg and insurance, one is making payments but other is the strong credit that got bike and wants it back
What can you do legally if your camper has been repossessed without anyone notifying you?
Very little ! If you default on the payments, the finance company are quite within their rights to confiscate the vehicle. The camper does not become your property until you have made the final payment !
In Texas what rights do you have if you sold a car to a friend who stopped making payments per a signed contract if the title is still in your name?
The title is in your name, so you hold all the rights.
What are your rights to property in your vehicle once it is repossessed in NJ?
You rights are to GET IT BACK, PP is not subject to the security interest on the car.
How can a co-buyer take possession of a truck when the primary borrower is not making the payments?
When someone co-signs, they are basically just agreeing to making the payments when the signer can not. * Any legal rights that a cosigner or a co-buyer(borrower) have depend upon whether or not their name is on the title to the vehicle.
What rights does a cosigner have if they have been making the payments and their name is on the title?
If your name is on the title, you can take the car. Just make sure he didn't re-titled it after the split.
If you only had one late payment which was 8 payments prior to your last month when the car was repossessed what rights do you have?
Read your contract. Basically, you have the right to pay the default amount, the repo fees, storage,ect and get your car back. UNLESS there are other defaults you forgot to mention.
If you are primary on a car loan but the secondary is the one actually making the payments who owns the car?
Both of you. The payer may have greater rights to the vehicle, but both of you legally own it.
