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In Georgia can a car be repossessed if the borrower paid a lump sum to cover arrearages and wants to keep the car and make timely payments but the lender wants the car returned?
Wiki User
∙ 17y ago
In Georgia, Has an "endangerment of security" if at any time the finance company fells that there security is in danger they can repo you car. A finance company can repo you car at any time even if you are current if they fell that there security is endanger. Example of Endangerment I have repo for: 1. Past Due Payments 2. You move and don't notify Finance Company 3. Cancelled insurance 4. Threats of destroying the Auto 5. Divorces 6. Threats of Filing Bankruptcy 7. Failed to make a payment on another vehicle that is financed with the same company
Wiki User
∙ 17y ago
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What happens to payments made after a car is repossed?
Payments made after a car is repossessed will no longer be returned to the debtor. In fact, the lender can still require the debtor to pay the remaining balance of the loan.
What happens when a borrower pays of a pawnshop loan?
A personal item is returned to the borrower
Can a car purchased and registered in Florida be repossessed in Georgia and returned to Florida?
Most definitely.
Can a buy here pay here car be repossessed?
Even though it is a buy here pay here dealer it is in the contract you signed. You dont pay they will take your car and you WILL have to pay the late payments on top of the repo cost before you get your car returned.
If you cosigned on a loan and voluntary have it returned can the company still come after you if the primary signer is making payments?
Don't understand what you mean by the phrase, "...voluntary have it returned..." However, as long as the primary indebted party is current in their payments there would be no reason for the loan company to contact you for payments.
What should you do if a finance company returns your payments?
Perhaps your loan has been paid in full. Otherwise, call them and ask why they returned your payments.
What is considered a five star credit rating score?
A five star credit rating usually refers to the credit worthiness of borrower. This rating gives a confidence to the lender that the credit under the same circumstance will be returned by the borrower.
Can you get your car back after it has been repossessed in the state of Iowa?
Yes, there are some instances that a person can get a repossessed car back in the state of Iowa. If the person pays all the money owed plus a repo fee, the car may be returned.
What if I returned my car after purchasing it one year ago because I can no longer afford the payments?
It would be a very bad thing to do. You are voluntary having it repossessed. The lender will sell the car for whatever they can get and you will be responsible for the difference in what they sell it for and the balance on the loan. They will more than likely wholesale it and you will be stuck owing the rest. Your credit will also be ruined for 7 years. This is a horrible idea. Go set down with the lender and work something out if at all possible. You do not want your car repossessed.
You were notified the loan was not approved and you needed to return the car you never returned the car or had it registered in your name and it was never repossessed how do you get rid of it?
Return it to the dealer.
Can you sue if your truck was repossessed then returned four hours later due to the current payment?
No, you're not out anything. In order to sue, you have to have provable damageds. They made a mistake, assuming you were current on your payments the whole time. It might have been inconvenient, but if we could all sue for being inconvenienced, the justice system would crash down on itself.
If you cosign on a loan and the car is moved out the state it was purchased and repossessed in another state and returned to borrower is the cosigner still responsible?
To give you a short answer, YES. The location of a secure asset has nothing to do with the obligation to repay the debt. There are some loans that are written with restrictions which would make the whole loan due (without default) if the car is removed from a certain locale (from some shady car dealers who self finance).
