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How do you write a car repossession letter?
How do you write a car repossession letter?
Can a repossession still be reported to your credit if the company has since sold the car?
Yes, because reguardless of what the company did after they took back the car, the fact still remains that it was repossesed.
If a car is sold after repossession does law state that it must be reported to the bureau as zero balance?
If a car is sold after repossession does the law states that it must be reported to the credit bureau as zero balance?
Can you register a car being repossessed?
The tow/repossession company has to notify the police of the repossession so the car can't be reported stolen..
What are the car repossession laws in Ohio?
In the state of Ohio, your car may be repossessed if you miss one payment. Your car may be taken any time of the day or night by the repossession company. The repossession company is not allowed to keep any items that you may have left in the car. The company must inform you as to what they are going to do with the car, including selling it, putting it in a car auction, or keeping it.
Where do you go for a part time job with a repossession company?
contact repossession companies or car dealerships in your area
Does a repossession company get paid if car is not repossessed?
Some do, most do not.
Can you get pulled over if you have a judgment for a repossession?
When my car was rep'd, The finance company went to court and garnished my pay check for what I still owed on the car after they sold it at auction. This was in Kansas 10 years ago.
Does the repossession company have to report the repossession to the police after the repossession?
I only know about the state of Massachusetts. And yes in our state they have one hour to report the repossession to the police department in the town of which the car was taken.
Do you have to payoff a car repossession?
Yes, you owe the difference of the amount of the loan and what the vehicle was sold for plus any costs of the repossession. You are expected to pay that amount.
If your car is damaged while it is being repossessed who is liable for the damages the loan company or the repossession company?
The LENDER is responsible for every detail of a repossession. They may pass the costs of repair on to the repo company.
Can a finance company garnish your pay for a car that was repossessed in 2004 and tack on 9000 dollar more then what you owed they started the garnishment in 2009?
If your car is repossessed you are responsible for the difference in what it brought when sold by the loan company and what you owed, plus the repossession charges. That is more than likely where the $9,000 comes from. Rarely does the car bring even close to retail, and most often is sold at wholesale price. This leaves you in the hole for the balance which you will have to pay. This is repossession is such a bad idea. You need to seek legal advice from a lawyer.
