Legally if you miss 1 payment you are delinquent and they can start repossession proceedings on their vehicle.
Same as any other repossession, CALL the LENDER. Work something out.
No months. It will be more like weeks or days. In practice, you can be one day past due and the lender can send your vehicle for repossession. It might be months before the actual repossession happens; it will depend on how difficult it is for the agency to secure it.
Can a repo man bust a chain and lock to your gate to gain access to your property for reposesion of your vehicle. I live in Texas.
It goes through a legal process, and if you fail to get your vehicle back, it will be auctioned of to help fund the government.
TEXAS PROHIBITS ANY CREDITORS FROM WAGE GARNISHMENT...THEY DO NOT ALLOW IT...THE ONLY PEOPLE THAT CAN GARNISH YOUR WAGES IN TEXAS ARE STUDENT LOANS, IRS, CHILD SUPPORT....YOU CAN GOOGLE TEXAS WAGE GARNISHMENT AND PRINT OUT THE INFORMATION...
Some states have set maximum amounts for repossession fees. The state of Texas,. however has not set a maximum amount on the fee that can be charged for a car repossession.
Under Texas law, a vehicle may be repossessed even if payment was only late for 10 days. This means that is payment was due on the first day of the month, and payment has not been settled on the tenth, then, vehicle will be repossessed on the eleventh.
The action is referred to as a 'replevin order', and it is possible to get such an order from the court in any US state. The majority of US states including Texas does not require a replevin order to recover a vehicle.
The legal remedy for vehicle repossession is covered by UCC laws. Regardless of where the lender is located the car can be repossessed under the laws of the state where it was purchased or where it is now located, whichever means is most advantageous to the lender.
When doing a repossession in Texas can you block their car in?Check with the local police departments. You probably can, as long as the car is NOT parked on private property.
The debtor is liable for the payout balance of the vehicle less resale amount. Additionally, he must pay any repossession fees, storage fees, transportations fees, interest from the lender, and penalties. In the evnet these are not paid, the lender will have no other recourse but to sue for the balance along with court costs, and legal and collection costs and fees.