Best Answer

turning over the title is NOT the only way to record a lien on your car. IF the lender did it correctly, YES, it can be repoed.

2011-09-12 14:38:39
This answer is:
User Avatar

Your Answer


Related Questions

Does the DMV get notified of a reposession if they have not found the car yet?

No. Only when the vehicle is repossessed and always once the licence plates are turned in.

What if the lender can not find any information on repossession that is on your credit report?

It might not have been turned in. If not, consider yourself fortunate.

Unable to gain sufficient financial support from his compositions Berlioz turned to?

Music Journalism

Can you go to college with a felony drug charge?

Not Likely as you will probably be turned down for financial aid as well.

Does a lender who repossessed your car have rights to your new car?

Not directly as a named lienholder would, but it depends on many things - mainly if the repossession reaped enough money to pay off the prior debt (which would include all late fees, interest, costs of collection, etc.). If not, the amount you would still owe may be turned into a claim or lien against other things you own, or wages you earn, to get full recovery.

If you cannot pay loan on RV should you voluntarily turn the RV in to the lien holderor let the RV be repossessed?

It would look better on your record (For future loans) if you turned in the RV voluntarily.

Can you charge a repossession fee for a vehicle that was voluntarily turned in?

mine was charged, i left the junker at the car dealership and when i finally got sick of paying for a car i hadn't touched for months, they repossessed something they had possession of.

What is computer based financial information systems?

A computer based financial information system, is a system used to show the profits, taxes, wages and expenditures of a organization. It is usally on Microsoft Excel and can be turned into graphs and charts.

Can I be arrested for avoiding a repo?

In many states, yes. This is called hindering a linder in the recovery of collateral. In some states such as California, it is a felony, while in others it is a misdemeanor. In the event the lender obtains an order called a replevin against you, if you attempt to avoid the repossession, you will be arrested for contempt of court and the vehicle will be impounded and turned over to the lender any way.

When your car gets repossessed do you get your belongings that are in your car and what does it do to your credit?

Jen, you SHOULD get your PP back. NOT giving it back is illegal and called 'conversion". There may be a fee for inventory and storage, but you get it back. Call the LENDER and tell them your problem. They are ultimately responsible for anything that involves a repo. Note: as a rule of thumb, you get back anything that would fall out if the car were turned upside down. That doesnt include things that are attached(wheels,tires,radios,TVs,playstations, funny little lights all over the car,ect)

Can a creditor seize your checking account on a secure loan if the property has been stolen?

There are situations where this is possible. The one that stands out is this: Your car was stolen. You stopped making payments on it thinking, "I don't have it anymore, so I don't need to pay for it." You turned in the report to the insurance company and they paid out, but you did not pay the lender off. Or, you did not have insurance or failed to turn in the claim, so received no money. In the mean time, the lender puts the vehicle up for repossession because you have defaulted. When you are contacted you tell the lender or repo agency the car was stolen, and continue thinking it is not your problem. The lender does not really want the car, they want the money you contracted to pay, so they sue you. You continue to refuse to pay, so the lender attaches your checking account. Yes, they can do this.

Who came to the US between 1880 and 1910 of the new immigrant's?

Many southern and eastern Europeans turned to America for financial gain and political freedom.

What are financial assets?

Money you have that you own, or things of value (such as realestate, or a vehicle or land or whatever) that you own that can be liquidated (turned into money by selling or renting or leasing)

Any good loan companies out there for people with bad credit?

The bad credit loans are being made for the welfare of those people for whom getting financial assistance in many times is difficult. Such borrowers are known as the bad credit holders who are either turned down or are charged higher interest rates by the lender. Thus, there is no end to difficulties and hurdles in their way to get money. In that case, these loans act as a helping hand for such borrowers.

What Houston-based company collapsed in December 2001 after its robust financial health turned out to be nothing more than massive accounting fraud?


What is the present perfect tense of turn?

Have/has turned.I have turnedWe have turnedYou have turnedHe/she has turnedThey have turned

Why did I receive a Customer Privacy Statement from World Financial Network National Bank?

My Internet research indicated that World Financial Network National Bank issues credit cards for specialty retailers. The Privacy Statement I received turned out to the the result of my Dress Barn account.

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.

What are the repercussions of an automobile repossession?

First off you will be required to pay the repossession fees unless you voluntarily turned the car in. Secondly you will be required to pay the deficiency. The deficiency is the difference in the amount the lender sells the car for and the amount you owe. Let's say you owe $10,000 and they sell the car for $8,000. That leaves you owing the lender $2,000. Thirdly this repossession will be placed on your credit report and will stay there for 7 years. Repossession should be the last resort after you have talked to the lender and done all you can to avoid this. Sell the car to another individual even if you have to sell it for less than it is worth, then pay the lender the deficiency out of your pocket to avoid repossession. Have someone take over the payments. Whatever it takes to avoid this.

What are the repercussions if you have a title loan out with a company and your car gets repossessed and can this affect your credit?

Any type of monetary loan agreement you enter into makes you liable to the terms you signed on for. The car being repossessed is not a good thing. More than likely they will report you to the 3 top credit agencies and a mark will be on there in a number depiction to indicate how many times, months and amount defaulted on. You will likely have problems getting decent credit in the future with low rates and dont be surprised if your turned down for any credit, either. Well, this is my advice, create a budget for your finances, stick to it, live within your means, pay for items cash so you dont create more credit and see if there are any seminars in your area for financial planning or how to live moderately.

Does the car have to be turned in at the end of the lease if you have stopped paying and claimed bankruptcy?

Yes you must turn the vehicle in on a lease. You are responsible for the full amount of payments on the lease. If the vehicle is not turned in it can be reposessed.Remember you never owned it. It certainly does. Unless the person likes the idea of "Grand Theft Auto" charges. You would have to reafirm your contract with the lender and pay any accrued fees/penalties.

What does it mean when you have a dream about your pocketbook being turned inside out?

The image of a pocketbook, wallet or moneybag being turned inside out represents emptiness, lack of resources or simply being without any money. The dream does not necessarily predict any financial disaster but rather expresses the dreamer's anxiety about money.

Is turned a word?

Yes it is. "He turned a corner." "He turned the situation to his benefit." "She turned the card over."

What is the purpose of an experian report?

An Experian report shows your credit history. It gives details of your personal history and financial behaviour. It can give pointers to why you are getting turned down for such things as loans and mortgages.

How is Scrooge's lifestyle inconsistent with his wealth?

Scrooge is a successful businessman, trader, money lender and landlord yet he lives in a large house previously owned by Marley and is not turned into offices that Scrooge lets out. He only lives in a small area of the house in a very frugal manner