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Can a car be repossessed if two names on title and one person took out loan?
Wiki User
∙ 9y ago
Yes. How many names are on the title and/or the loan means absolutely nothing... so long as there is a lien on that vehicle, that lienholder is the sole lawful owner of that vehicle, and can repossess it as recourse for delinquent payments.
Wiki User
∙ 9y ago
Wiki User
∙ 8y agoAs long as the loan is valid, the car is collateral. They are able to repossess the vehicle.
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Does a person who shares the title on a car but who is not on the loan have any legal responsibilities if the car is repossessed?
NONE on the loan.
If an auto loan is in one person's name and the title in another person's name can the vehicle be repossessed?
Yes.
Can your car be repossessed on a title loan after gone into collections?
Yes, your car can be repossessed if the title loan is in collections. Actually, this is one of the most common ways for a defaulted title loan to be settled.
Can a car be repossessed in California without a lien being placed on the title?
IF the loan is perfected, it can be repossessed. If you have signed a loan contract with the vehicle specified as collateral for that loan, it can be reepossessed if the loan is in default.
Can a car be repossessed if there is a lien holder on title but there is no actual loan?
hi
What happens to title loan cars when they are repossessed?
They are sent to an auction and sold.
If there are two owners on a auto title and only one signs for a auto title loan and dies is the other person responsible for paying balance of loan?
The short answer is yes, if you want to keep the car. Otherwise the loan will go into default and it will be repossessed. If you did not sign for the loan, it will not affect your credit.
What can happen if you don't pay a title loan and you still have the car?
The vehicle can be repossessed.
can the underwriter stipulate who can be on the title when there are two people on the loan?
From what I have read, no, a underwriter cannot stipulate who goes on the title if the loan is in more than one person's name. Normally, both names that are on a loan have to go on the title of the purchase from the loan.
If the loan for a vehicle is in one person's name and the tite in another's what are the rights of the person on the title if the vehicle is repossessed?
None, unless the person who is named on the title chooses to make an agreement with the lender to refinance the car in their name. A title which has a lien against it does not confer ownership to the title holder. The vehicle belongs to the lender/lien holder until the loan agreement is paid.
Do you still owe title loan after vehicle is not working and repossessed?
YES! Including any interest.
Why has your vehicle been repossessed if you are up to date on all title loan payments?
Call the loan company and ask them. If you are up to date on your loan you have a case against them.
