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Repossession
Liens

Can a lending company of a repossessed vehicle put a lien against a vehicle in another state?


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Wiki User
2011-09-12 14:50:40
2011-09-12 14:50:40
Repossessionalthough it is unlikely they would know about it (unless they called her and she told them) the only way to be completely safe is keep it in your name. They can't lien other property of hers without a judgment and they would have to take her to court to get that. you could draw up a promisary note between you and her so that it is not an Asset to her - meaning she owes what the car is worth - preferably more than it's worth to you.

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The bank/lending company are the ones who repo your car the repo chimps are just their agents.Your bank should tell you.

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They usually take them to auction after a brief storage period either at the collection agencies or lending institutions yard.

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contact the lending institution and offer to make partial payment in exchange for the title.

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Yes, if you don't comply with the terms of the lending agreement.

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It means that someone has borrowed money from a Bank or lending company and used the car as colatoral. Be carefull, if you purchased this car, and that lien is still against it, the lending company can come after you for the money or take the car from you.


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