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What happens if you are no longer in possession of the car that is being repossessed?

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YOU are responsible for the car to the loan is payed off. The more it sells far after repo, the less you will have to pay later. get the car back, clean it up, and give it to the lender. WHY??? Folks who drive cars that don't cost them anything usually don't take care of them and the car isn't worth much when it gets to the auction. Basically you are GIVING them money that YOU will have to pay back. Its NOT good.
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When does car repossession happen?

As soon as you default on the loan. To be late by one day on the loan payment is a default.. When you finance or lease a vehicle, your creditor holds important rights on the

If you hide your car from being repossessed what will or could happen to you for doing this?

In some states you could be charged with hindering and arrested. In others the lender could seek a replevin against you at which time you would either give up the vehicle or f

What happens if you hide your car from repossession?

You won't be arrested and the police won't come after you it is a civil matter not criminal. You may be right, you won't be arrested and the police won't come after you but

Can you hide your car from being repossessed?

According to the repo handbook, any debtor purposely hiding collateral from the bank to defraud them is illegal and you can be arrested when summoned to the court. I am a Repo

How you do get your car back after being repossessed?

  Answer     You need to contact your lender to see if they will work with you on getting caught up on your back payments.     Some state laws allow the l

What happens when a damaged car is repossessed?

You are responsible for the entire amount that you owe them - (minus) the amount they get for selling it, which won't be much with $6k in damages. They will report it on you

What happens after a car is repossessed?

After repo, the car is sold at auction(usually) and you are expected to pay what is left owing on the loan. At this point, you can make the lender an OFFER to payoff(CASH),

What happens to items in a car after repossession?

%REPLIES%    Answer   It all depends on the repo, co. Most are privately owned and when the car is repossessed the owner of the car contacts the local police to repo

What happens after your car has been repossessed?

  Answer   You get into really good physical shape from all the walking.....   no. Seriously, what generally happens is your vehicle will go to the repossession co

Do they notify you if your car is being repossessed in California?

  If you are more than a few days late on your payment and have been habitually late, you can assume they are getting ready to repossess the vehicle.   When you finance

What happens if your car is repossessed?

  Depending on your state law, there are many solutions to your car being repossessed. In all cases, information must give you information about what will happen to the ve