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Mary, the answer is NO. You will have to pay the balance due after the sale price has been deducted.

2015-07-14 16:07:32
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Does bankruptcy cover the amount you are upside down on a vehicle after it has been repossessed in Colorado?

It can.


Do you have to pay the whole vehicle off if it is repossessed?

Once a car has been repossessed, you as the owner of the vehicle have the obligation to repay any amount still owed on the loan. Once a car is repossessed, it is often sold in a repossessed cars auction by the finance company. The amount which the car was sold for will be deducted from the total loan amount and then the difference will be owed by yourself. So yes you would have to pay the whole vehicle off if it was repossessed.


How do you find out if someone elses vehicle has been repossessed?

"YOU" dont, the debtor does. call the lender.


What if a vehicle has been repossessed more than once?

only the last one counts


What are your rights in Washington State after your vehicle has been repossessed?

Pay for the car and get it back, or pay the deficiency after it has been sold.


Can you get a vehicle back after it has been repossessed?

YES,, CALL the lender and find out HOW MUCH it will cost to do so.


On average what is the quality of most repossessed vehicles?

The owner of a vehicle that has been repossessed, cannot afford to make their payments, so it makes sense that they cannot afford to perform the required scheduled maintenance on the vehicle. This is not always the case but IMO, I would never buy a repossessed vehicle, unless it had extremely low mileage of say less than 20,000 miles.


Are there laws that govern how much a consumer can be liable for after a repossessed vehicle has been auctioned?

As a rule of thumb, you will owe the difference.


Can you get your vehicle back after it has been repossessed?

Yes, you can. Alot of times they will work with you. They don't want your car, just your money!:)


Do you have to pay on a repossessed car if not sold?

If it has been repossessed the lender will usually stop all collection activities until the vehicle is disposed of through sale. It is unusual but the lender could decide to keep the vehicle but should they do that than they waive their right to a deficiency.


Can you get compensation for major custom work done on a financed vehicle that has been repossessed?

No. You wanted the custom work; it belongs to you. No one will pay you for customizing your own vehicle.


In California what happens if a vehicle has been charged off and it has been over a year and you still have it but there has been no contact or correspondence from the bank regarding a repossession?

It might get repossessed.


Can you find my car by the VIN if it was stolen or repossessed?

There are certain strict procedures that an automobile repossessor must follow when he is repossessing your car. The repossessor must notify the police that such vehicle is being repossessed, you did before or after the repossession has occurred. In either case, the police should know right away that the vehicle was repossessed. If this is not the case, then the vehicles like to have been stolen.


What is the time frame to repossess a car in Texas?

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.


Can you get your medication from a repod vehicle?

Yes, you are allowed to remove your personnel property from any vehicle that has been repossessed. Take proof of ownership to the lot where the vehicle is stored and ask for your property. If they refused call the lender.


What should a person do if their Chapter 7 Bankruptcy has been discharged but a vehicle that was to be surrendered has not been repossessed by the bank?

A person immediately contact their lawyer to assist on issue.


What do you do when your vehicle has been repossessed during an insurance claim in Texas?

Same as any other repossession, CALL the LENDER. Work something out.


How long do collection agencies have to recover debt after a vehicle has been repossessed in the state of New York?

Kiss a fatty naked girl


If my car has been repossessed can I still trade it in for a different vehicle?

No, you no longer have anything to trade (the car is now the property of the repo company not you).


Can a vehicle be reposessed for late fees on the loan?

It depends on how many times you've been late on vehicle payments. Most of the time though as long as you are making a payment of some kind on the loan your vehicle will not be repossessed.


When a vehicle has been repossessed and taken to the auction does Honda carry insurance on it?

Not only does Honda have insurance on the vehicle, so does the repossession company, the storage company, the transport company, and the aution agency.


Can a vehicle be repossessed if it is blocked in the driveway by another vehicle?

If you have not paid your loan, your vehicle is repossessed. If your vehicle is parked illegally, such as in front of a driveway or in a no parking zone, it is impounded. In both cases, a police report should have been turned in to the local police department. With an impounded vehicle you generally have a parking ticket, a towing fee, and a storage fee. All three must be paid before you get your vehicle back. Next time walk an extra block.


Can another bank or dealer help to get your car back after the 2nd time?

No, and it is not likely any would if what you are saying is that your vehicle has been repossessed twice.


What do you do once your car has been repossessed?

I have a welding machine on the truck they repossessed can they keep that?


Do you have the right to get your personal belongings out of your car after it has been repossessed and can you take your license tags off in the state of South Carolina?

You are allowed to remove personals that ARE NOT attached to the vehicle. The license plates stay with you, not the vehicle.