answersLogoWhite

0

  • Auto Loans and Financing
  • Repossession
  • Credit Reports

Can a collection agency repossess a car that a bank owns but you are making payments on to the bank?

User Avatar

Wiki User

βˆ™ 2015-07-14 16:06:41

Best Answer
Copy

carolene, normally, banks dont turn accts ovet to CA unless the payments are NOT being made. Have you bothered to call the bank and inquire as to why this is happening?

2015-07-14 16:06:41
This answer is:
πŸ€“
🀯
πŸ€”
User Avatar

Your Answer

Loading...

Related Questions

Can a creditor repossess property if you are making payments?

no they cannot


Can a collection agency report you to the credit bureau if you are making monthly payments on your medical bill?

If the debt was properly assigned by the original creditor, yes. If you are making payments to the Original creditor than ask them to pull it back from there Collection agency, then dispute with the CRA's and when they update it should delete


If you are making sporadic payments to a collection agency and they cash them can they still sue the cosigner?

Unless you have a specific repayment plan that the collection agency agreed to, there is no legal reason that cannot sue the cosigner.


How come a monthly statement is not sent by the collection agency when making monthly payments?

Because they don't. It is a lot of agency's policies.


Can a finance company repossess your car when you lose your job?

Only if you stopped making payments and are behind on your on your payments.


Can a debt be classified as a judgment if you made a payment and the collection agency contacted you and you showed proof of payment and are paying the remaining balance?

if collection agency is not from your lender, but third party, then you need to fax them proof of your payments to your lender or financial insitution and have them send you a letter stating that they will not report you to credit bureau. and also have them contact the collection agency you are making payments. asian623 http://www.myspace.com/scionturboracing


Can you repossess a car from your ex if they are not making the agreed upon payments?

i think so:D


Can your loan company repossess your car if you are in arrears but are making payments?

Yes.


Is it better to settle an account in collections or pay it in full via monthly payments?

Personally speaking, it is better to settle with a collection agency rather than making monthly payments. Theres only one ceveat....you must pay the collection agency in full. Example, lets say you owe $1000 to a credit card company. A collection agency will say, pay $600 NOW and this will settle the balance. So, if you dont have $600, its a 'catch-22'. You are better off making the monthly payments until the $1000 is paid.


What does it mean if the original creditor recalls your account from the debt collection agency?

Same thing happened to me..... what does this mean? I have not heard anything back from original creditor and was making timely montly payments to collection agency... I am confused and a little scared


Would your car dealer have you locked up for not making payments?

No, they'd repossess your car.


When you are making payments to a collection agency can they still sue you?

Yes, if the payments being rendered are not in accordance with the financial agreement. It is, however, unlikely that they would take such action as it would not be in anyone's best interest.


If i stop making payments on a camper my dad had in his name only and he died what can the finance company do to me?

Repossess it


Can a cosigner repossess a car if the primary borrower stops making payments?

No. Only the lender can "repossess" a vehicle. You need to keep making the payments to protect your own credit. It is likely you would need to bring a court action, prove you are making the payments and petition the court to order a transfer of title.


What happens in Florida if you quit making credit card payments?

after 180 days of non payment your account will be charged off and turned over to collection agency


When can the government repossess property such as a car?

when you arent making payments for several months when you dont pay your taxes


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.


Legal Procedure to get back a personal loan in US?

Get back a personal loan. Is it in default? Contact loan company or debt collection agency and start making payments.


If loan is not reaffirmed on a mortgage is the property still mine payments are made on time?

as long as you keep making payments the lender will probably not repossess the property. however, if you miss one payment the lender can repossess the property at any time.


If your cosigner defaults on other loans but you are making your payments can they repossess your vehicle?

No. You are the primary borrower and are honoring your financial obligation.


Is it legal to repossess your work truck when you are self-employed?

Yes, if you are not making the payments the bank can repo your truck.


Can a collection agency report you to a credit bureau if you are making payments to the creditor?

Yes, they can. However, most don't provided you make a payment agreement with them and honor it until the bill is paid in full.


Can a debt collector take legal action when you are making regular payments and they have ceased accepting installments?

If you have a written agreement from the collection agency specifying the terms of your repayment plan and you have fulfilled (and are fulfilling) those terms as specified in the agreement, they probably cannot. If the collection agency is empowered by the original creditor to file suit and you do NOT have a written agreement from the collection agency as specified in paragraph one (1) above, they probably can. The laws of your state will prevail.


Does the lender on a car loan have to notify the cosigner before they repossess the car in TN?

They should since they are just as responsible for making payments as the primary.


Can a collection agency call and harass you and not reveal their phone number or identify themselves when you answer?

That would be a violation of the FDCPA. But if there is no evidence that it is a collection agency making the calls, there is no way to file a complaint.