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Can a horse trailer bought on contract between private parties in Texas be repossessed without using court procedure when the payments have not been made for three weeks.?
Wiki User
∙ 17y ago
Only if there is a "Right To Repossess" document or a contract that states a "time sensitive" payment schedule. Without either, repossession is next to impossible without a Civil Court hearing! Y-THINK-Y * Yes, Texas Business and Commerce Code Right To Possession Without Breach of Peace using non-judicial means, (Chapter 9, Section 9.503).
Wiki User
∙ 17y ago
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Can your motorcycle be repossessed if you take it out of Arkansas because your job requires you to travel?
Yes they can. It doesn't matter if your job requires that you travel. Your contract with the motor cycle company or bank requires that you make monthly payments. If you are not holding your end of the bargain by paying your payments to them then they have the legal right to reposes it no matter where you are. The contract with you and the company that holds the lien on your motorcycle has nothing to do with your employer. This is between you and your lien holder.
Will gap insurance help if your car is repossessed in Arizona?
WHAT "GAP" does it cover?? The gap between your down payment and what the car is worth or the amount you lack to be current with the payments? Read your "GAP" ins. contract to be sure of the coverage. I've never heard of it covering a repo.
What is the difference between a normal boat and a repossessed boat?
A repossessed boat is a boat that the bank or company has taken back from you because you neglected or were unable to make payments to legally own the boat. A normal boat would be a boat that's owned by a person who's either making the payments on time or already has it paid off.
Can they make you pay the difference between what the car brings and the amount you owed if your car is repossessed and auctioned in Arkansas?
YES, read the contract you signed.
What is the difference between installment and annuity?
Instalments are payments for your debts which can be paid on monthly, quarterly or yearly basis or way to make payments. Annuity is insurance product which is contract between you and insurance company for your investments.
WHAT DO YOU MEAN BY ANNUITY?
An annuity is a contract between you and an insurance company in which you pay a lump-sum payment or a series of payments in exchange for regular payments, which can start right away or at a later date.
What is the meaning of variable annuities?
A Variable Annuity is an insurance contract in which at the end of the accumulation stage, the insurance company guarantees a minimum payment. The remaining income payments can vary depending on the performance of the managed portfolio.
Do have to pay the difference on a repo car?
Yes. If you take out a car loan, fail to make payments, and the car is repossessed, you will have to pay the difference between the price the lender received at auction and the balance remaining on your loan.Since repossessed cars are usually sold at wholesale auctions, the difference can be thousands of dollars.
What is a creditor agreement?
A creditor agreement is a contract between two parties. The agreement outlines the term of payments based on purchases and other things such as mediation.
If you hide your car from being repossessed will you get in trouble?
Yes, make your payments or contact the lender and work something out. They do not want to repo your car. They loose, and you loose big time. Talk to them. Not with the police it is a civil matter between you and the lender.
Why is a credit check required for contract phones?
Signing up for a contract phone is a binding agreement between two parties. The customer is expected to make monthly payments, per the contract. Poor credit scores indicate the customer may pose a risk to not pay these monthly bills.
If you have a contract with someone as a private sale and they are now three payments behind what do you need to do to recover this vehicle in Texas?
http://www.panhandlerecovery.com Barry can likely help you Did you have a contract signed between the two of you? Did it state that you could repossess it if they didn't make the payments? If not, you probably need to go visit the courthouse and prepare for a lawsuit against the person you gave the car to.
