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What can you do if the lender sue for payment instead of repossessing the car?
Wiki User
∙ 8y ago
Tim, I have never heard such a request. Ill answer your question but first I have one for you.WHAT is soooo precious about the car that you don't want to give it up? Did you go on your first date in it??Tim, the car probably isn't worth anywhere close to whats owed on it. That's why they sued to get a judgment.The INTEREST has been adding up all the yrs. you havent paid on it. so the lender gets the judgment and proceeds to collect. What else do you own worth taking? They don't seem to want the car so whats left? Nothing??? Well, they will wait for you to inherit something they want. OR wait for you to win at Powerball. Or marry a rich woman. Do you work?? yes? They can garnishee your wages. 25% of them. And pester you to death with phone calls. About the summons you were served....GO TO COURT, don't miss it. It will be your ONLY chance to fight the judgment. tell the judge how POOR you are ect. Make the lender an OFFER to settle right then. Have the CASH in your pocket. 8000??? Offer 3000. Never know, they might take the offer. good Luck
Wiki User
∙ 8y ago
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Can auto repossession be negotiated?
The company repossessing the car has no authority to negotiate terms with you. They are simply there to repossess the car. You must negotiate with your lender. Hopefully, you will do this before the the repossession order is submitted by the lender.
What is the legal course that must be followed by a lender repossessing a car?
After repossession the lender must send a letter telling you where the car is how much is owed on the car and where it can\d be redeemed. This letter must be sent within 5 day after the repo
Is there a time limit for repossessing a car?
Unless you have a payment plan figures out with your loan company(I.E. i can pay 100 this month instead of 200) they will usually wait 90 days to proceed with the repossion process.
Can your car be repossed before your car payment is due?
No, until you have missed a scheduled payment (at the very least), the lender has no right to the property.
How can you lower loan payment for car?
You can lower your loan payment by refinancing your car loan. You can also negotiate with your current lender and see if he can reduce your payment amount.
What are the consequences of voluntarily repossessing a car after having it for 6 months?
Credit will be ruined for 7 years. You will also pay the difference in what the lender sells the car for and the balance on the note, and possibly the repossession fees. Avoid this if at all possible. Talk to the lender and see if you can work this out.
How long before they can repossess you car in Virginia?
The lender can legally take the vehicle one day after the payment is due. That is, on the day the payment is late, the lender can begin repossession efforts. The day the payment is late, the contract is void.
What if you could not pay for 3 or more months?
what if your 3-Month or more late in car payment will the lender still accepeted a payment
If you cant make your full car payment does the lender have to accept what you can pay?
No, but if they accept any payment, they cannot begin the repossession proccess
If i am 167 days delinquent on your car payment's. can you work something out with the lender to avoid repossession?
No one can answer this question except the lender. You need to contact them and ask.
If you are two months behind on a payment can your car be repossed?
First off it is not your car. The car belongs to the lender until you pay for it. Legally if you miss 1 payment you are delinquent and they can start repossession proceedings on their vehicle.
Can your car be repoed on private property in the state of Texas?
repossessing a vehicle is NOT tresspassing in any state. It is a LAWFUL reason to be on the property. READ your contract again, you likely gave the lender permission to do so.
