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Can a bank take your other assets after repossession of vehicle in Ga?
Wiki User
∙ 15y ago
Our company that refinanced the vehicle is threatning to garnish wages and garnish our other vehicle (of which is paid for) and other assets.
Wiki User
∙ 15y ago
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Does the bank have to provide notification of a vehicle repossession?
No. And neither does the repo man!
Is there a reward for turning in a vehicle that the bank is unable to collect for repossession?
I doubt it but you can always call and ask.
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.
How can you find out how the repossession guys found your car?
No, you have it wrong. The repossession guys found THE BANK'S car. Once the bank takes the right paperwork to the court, the vehicle is no longer yours and you have no rights to it. The bank may have hired a private investigator to find the vehicle, especially if there is enough value that they want to pay off some of the loan.
What are examples of voluntary car repo?
If you call the Bank; Finance Company and let them know that you are going to return the vehicle to them. They tell you where you can drop the vehicle off and you deliver it to that place. That is a voluntary repossession. The only other thing would be if the Bank; Finance Company agrees to pick the vehicle up at your residence at no charge.
How long after a vehicle repossession does the bank or car company have to sell the vehicle and is there a maximum time limit in Tennessee?
30 days and 20 minutes dude
What paperwork does a vehicle repossession man have to have with him at the time of the repo?
Not much really, he just has to make sure it's the right vehicle and that the bank has done THEIR paperwork.
What do you do if your car is damaged by the repo agent?
Once the bank has declared the loan to be in default and has initiated the repossession process, the vehicle becomes theirs to dispose of as they see fit. The agency towing the vehicle becomes the agent of the bank, taking possession of the property of the bank. After the repossession, if you and the bank work out terms for you to regain possession of the vehicle, you do so from the bank and the vehicle is returned to you without warranty or additional obligation other than the terms of the loan. Damage which occurred while in possession of the bank may be repaired at the disgression of the bank, but they probably won't cause trouble for the towing agency, since they want to maintain a working relationship with them. The bank will probably just tell you to keep your note current next time.
Can your car be repossessed if you have the title in your possession and the bank is not the lien holder?
Repossession occurs when the borrower fails to make payments on a loan secured by a vehicle. If "the bank" is not the lien holder then it has no authority to take possession of the car by repossession. However, if a bank obtains a judgment lien against you in court for a different debt, it can use the judgment lien to seize your car, or any other property, to satisfy the judgment.Repossession occurs when the borrower fails to make payments on a loan secured by a vehicle. If "the bank" is not the lien holder then it has no authority to take possession of the car by repossession. However, if a bank obtains a judgment lien against you in court for a different debt, it can use the judgment lien to seize your car, or any other property, to satisfy the judgment.Repossession occurs when the borrower fails to make payments on a loan secured by a vehicle. If "the bank" is not the lien holder then it has no authority to take possession of the car by repossession. However, if a bank obtains a judgment lien against you in court for a different debt, it can use the judgment lien to seize your car, or any other property, to satisfy the judgment.Repossession occurs when the borrower fails to make payments on a loan secured by a vehicle. If "the bank" is not the lien holder then it has no authority to take possession of the car by repossession. However, if a bank obtains a judgment lien against you in court for a different debt, it can use the judgment lien to seize your car, or any other property, to satisfy the judgment.
Does the bank have to tell you they are going to repossess your car.?
Yes, the bank must tell you that your vehicle is being repossessed. The bank will usually try to reconcile the debt before the repossession takes place.
If you are in repossession status and are making efforts to pay on your late payments can they still repossess your vehicle?
Once the loan is in default the bank has the right to refuse payment and repossess the vehicle.
If vehicle is in repossession phase and you are pulled over will you go to jail for auto theft?
No. Not if the circumstances are as simple as stated. Repossession is a civil law procedure, not involving criminal law -UNLESS- the vehicle HAD already been re-possessed and you went and took it back from the repossession impound lot, or the repossession agent or the bank. If it had already been taken and impounded then, yes, you could be charged with auto theft.
