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YES
IFyou are not up to date, if you are behind on your payments they can repossess at anytime.In most loans, there's a statement about late and/or partial payments that basically says the bank can take them but isn't obligated to do so and that taking one late or partial payment does not mean that they have to continue to do so.
So, if you owe $200 a month, and pay $100, the bank can accept that and still repossess the car. They do have to credit the $100 towards the loan.
Also, banks are usually allowed to repossess for habitually late payments. Most of the time a bank will consider this to be more hassle than it's worth as long as you're eventually catching up, but if you're chronically making payments several weeks late, they might at some point decide "this guy is a flake, we should get out of this deal while we still stand some chance of recovering our money."
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∙ 12y ago
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Can a bank take a car that some else as a lien on?
Yes, the bank has the right to repossess the vehicle if you are in arrears on payments.
Your father died and had just bought a new vehicle what happens with this vehicle will the bank take it out of his estate?
The bank can repossess the car if payments are not made.
Can a bank report a car stolen if in default of payment?
YES, IF YOU CLAIM NOT TO KNOW WHERE IT IS. If you call the bank and say I dont know where the car is its gone, they are going to tell you to report it stolen. If you stop making payments on it then they will repossess, if there is no car to repossess then you are still responsible to pay the monthly payment car or no car If you stop paying and there is no car to repossess then they at that point can take legal action against you. I dont know if its reported stolen but take my word for it you will pay somehow.
Is it illegal to take a car out of state when you are still making payments on it?
Not as long as you continue to make payments on it.
Does Bank of America take credit cards for mortgage payments?
Yes.
If you by a car from a used dealership and it gets repo'd do they serve papers?
When you fall behind on your payments from any place, the lienholder has a legal right to repossess the collateral, mainly the car or truck. They can be nice and warn you, or not. The only papers they may serve is the order to repossess. Most recovery agents (repo people) prefer not to tangle with a debtor and take the collateral when the debter doesn't show up. As long as they call it into the police to protect themselves and they have an order to repossess the goods from the bank, that's it.
If a car is in your name as the primary but your cosigner has been making payment for the last year and many of those payments have been paid late can you legally take that car from the cosigner?
Since the cosigners isn't paying, unless you start paying instead, and catch up on all late payments, the dealer or the bank will repossess the vehicle shortly anyway, so your question is moot.
Can a credit card continue to allow automatic charges on your account after you ask to have the account closed?
Not if you ask them to close it in writing and you have NO balance.
Can the bank take your car at the dealer if it is in the process of repossession?
The bank can repossess their (not 'your' vehicle until you possess the pink slip) vehicle at any point where it's accessible to them, including places of business.
Can the bank repossess your car after the loan matures and you still owe?
If you still owe on the car (whether matured or not), the bank can take it if you don't pay. It belongs to them until the loan is paid and the title is sent to you.
How many payments must be missed before they repossess?
Actually one, I have repossessed cars for BMW where there customer was three days late. it all depends on the states laws I have a website that may help you avoid having your car repossessed. www.stoptheREPOman DONT LET TTHE BANK TAKE YOUR CAR BACK!
Took over car payments can they take it back even if i made car payments on time?
I assume you took over the payments after the other owner missed payments. If you are caught up on all the payments then there would be no reason for them to repossess the vehicle. You need to contact the lender ASAP to make sure everything is fine. Failure to contact the lender may create a bad situation.
