Repossession

After car is sold by repossession company do you get a get a letter?

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2010-04-08 17:07:05
2010-04-08 17:07:05

When your car is repossessed, what you will get will depend on your local governmental regulations. When I was in a car wreck, I was able to go by the junk yard and get my tool kit out of my car.

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Related Questions


How do you write a car repossession letter?


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 the law states that it must be reported to the credit bureau as zero balance?


The tow/repossession company has to notify the police of the repossession so the car can't be reported stolen..


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.


contact repossession companies or car dealerships in your area


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.


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.


The LENDER is responsible for every detail of a repossession. They may pass the costs of repair on to the repo company.


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.


Depends. Are you receiving the car or are you selling the car.Repossession = againRepossession = ownershipRepossession = gaining ownership again


who is allow to do Vehichle/car repossession? when is a vehichle/car repossession not allowed? whats the minimum insurance needed for car repossession?


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.


If it was repossessed legally then he is guilty of theft


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.


When you purchased the car, you may have received a lien title from the state. This is not a clear title of ownership. The lender in essence still owns the vehicle, at least part of it. It is held in security for the loan. If you are a repossession company or agent, you will be required to have an order of repossession. But, if you are a repossession company or agent, you should already know this.


Usually you will get a sale letter from the finance company or bank letting you know where the car will be sold, at what auction, and once it is over they will send you a letter of how much the car sold for and the remainder they will send you a bill for. This is concerning a public auction of your vehicle. If it was sold privately by the dealership or whomever, the only thing to do is call and ask.


It depends if the car is in your name or his. If it is in his name, then yes.


contact the company and pay what you need to to get the car back or they will keep the car and you can probably get your stuff out of it




You're talking about the repossession agent, not the car company or dealer. And no, they have absolutely no authority to detain you. If they try this, file a police report.


The order of repossession is their authorization to enter the car. If your car is being repossessed, it means there's a lien on it, and the lienholder called for the repossession to be carried out. You don't own the car - the lienholder does, until you pay off the lienholder and they relinquish the title to you. So yes, that tow company doing the repossession has every right to enter the vehicle they're repossessing.


I believe that once the car is sold at an auction or other means, you are suppose to be provided with paperwork showing you the amount it sold for and any remaining balance. If there is a remaing balance, you will probably be ask to pay it.


is concealing a car from repossession a felony in georgia?



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