You lose the car ... simple ... it is returned to the company that lent you the money to purchase it ... it then gets cleaned up and at the option of the lender either gets sold to someone else or it gets auctioned off. This is their right to do this - they own the car, not you ... if you don't have the clear title in your hands, you don't own it. If the car is sold for less than what you owe, the lending company can sue you for the balance.
The car gets taken to the impound lot, and you have to file paperwork and pay a certain amount of money to get your car back.
You should immediately, if not sooner, make plans to move to a more cost effective place.
Get a job
walk
No. Your car gets repossessed, it's on you. You don't get to pass that on to someone else.
License tags are the property of the state which issued them. The repo company should return them to the DMV or motor vehicle bureau. Different rules in different states. In some states they stay with the car and in others they belong to the person they were issued to and in others they are returned to the state.
Hollywood Is Hard - 2011 The TV Gets Repossessed 2-8 was released on: USA: 2012
Your credit is severely damaged. Stays on your credit report for 7 years. Don't let this happen. Contact the lender and work something out.
It gets placed in the junkyard. In order to get the vehicle back you must you pay your bill, as well as pay your local junkyard company to get your car back.
Yes you can retrieve personal belongings from your car if it gets repossessed. By law you are allowed 7 days after your car gets repossessed to retrieve your personal belongings.
If neither the lender or the repossession company is notified that you have filed, and they proceed in good faith, your car can be repossessed. If either knowingly violated the stay, you may be able to redeem the vehicle, and the bankruptcy court may fine the agencies who acted in violation.
It depends from state to state, but it probably shouldn't affect your insurance.