0
Can a lender repossess a vehicle without first sending you a certified letter?
Wiki User
∙ 14y ago
Yes. Think about it this way: you signed the note on the car. You were conscious and aware when you did this. You made payment (ostensibly) for several months. You knowingly did this. You were therefore aware that you did not make payments for a month, perhaps a couple months, typically more like several months, yet you kept driving the vehicle. You knew. So, what more notification do you need? Certainly none is required by any state or federal law in the US. And, why would a creditor give you that sort of warning so that you could hide the vehicle and make their efforts that much more difficult? None would.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Can a private party repossess your vehicle without a signed contract or any proof that you owe then money which you do NOT?
No, they cannot take your vehicle without a signed document.
Can you legally repossess your car with a lien on the title?
That is the only way you can repossess a vehicle. Repossession comes under the UCC which grants a lienholder the right to repossess but only if they have perfected their lien by filing it on the title. One caveate is in most states the lienholder can not repossess a vehicle that is under a mechanic's lien without first paying that lien.
Can an agent repossess your vehicle without even telling you when they come to take it?
Yes...thats what repo-men do.
Is it legal for a dealership to repossess a vehicle that was not financed only a bank error without letting you correct the problem?
YES
Can you junk a vehicle without title if the loan company refuses to repossess the car?
ONLY if you can find someone to buy it without a title. NO buyer, NO seller.
How many days do you have to be behind in your payments in New York before they can repo your car?
As soon as you have defaulted on the loan, a creditor can repossess your car. So 24 hours after you have failed to pay, they can repossess your vehicle without notifying you.
Is it legal without notice to repossess a vehicle in Indiana for being 12 days late on one payment?
Depends entirely on what the contract you signed says. If you are 1 day late they may be able to repossess the vehicle if that is what the contract says and what your state laws are regarding repossessions. Read your contract.
What are the Texas state laws in regard to repossession of a vehicle purchased from a note lot?
http://www.capitol.state.tx.us/statutes/bc.toc.htm § 9.609. SECURED PARTY'S RIGHT TO TAKE POSSESSION AFTER DEFAULT. (a) After default, a secured party: (1) may take possession of the collateral; and (2) without removal, may render equipment unusable and dispose of collateral on the debtor's premises under Section 9.610. (b) A secured party may proceed under Subsection (a): (1) pursuant to judicial process; or (2) without judicial process, if it proceeds without breach of the peace.
Can someone repossess a car without filing for repossession?
yes
If the lien holder was supposed to repossess a motorcycle but never did can you sell it and how do you obtain a title?
No. A vehicle cannot be sold without a clear title and the only way to obtain such a document is through the lien holder.
If the bank sent you a title without a lien holder on it can you stop making payments on the loan and keep the car?
Your obligation to repay the loan is based on the promissory note you signed, and has nothing to do with a lien on the vehicle. Without a lien on the vehicle, the lender will be unable to repossess the vehicle, but they can still collect on the debt. They can also impose substantial penalties. Without a vehicle lien as collateral, most lenders will convert your auto loan into a signature loan at an interest rate of 12% or higher.
Can a creditor repossess a car if the account is current?
not without legal cause
