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Can a lien be placed on a home if the owner owes a loan deficiency amount when a vehicle is repossessed?
Wiki User
∙ 17y ago
Yes.
Wiki User
∙ 17y ago
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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.
What happens if a car has dents and is repossessed?
It gets placed in the junkyard. In order to get the vehicle back you must you pay your bill, as well as pay your local junkyard company to get your car back.
Can a vehicle be repossessed if the title has no security interest on it but you used the vehicle to get the loan but never gave them the title?
a lien can be placed on a title without you giving them the title. call your states DMV and ask if you car has a lien on it. I think you will be surprised. Good Luck
In the state of Colorado if a vehicle is repossessed do the personal items in this vehicle have to be returned?
As soon as your vehicle is delivered tot he storage lot, it is typically inventoried. That is all personal items are listed and placed in storage. Upon your request, these items will be returned to you. Keep in mind thought that you may be required to pay storage for these items before they will be returned.
What is tongue weight?
The amount of weight which is placed on the tongue of the drawbar, i.e., the portion which connects to the ball hitch on the tow vehicle.
Can a judgment be placed on you due to a deficiency in a repossession?
Yes, the lender can file suit for the outstanding amount and if they receive a judgment they can execute the judgment in the manner in which the laws of the judgment debtor's state allow.
Can a car dealer resell a repossesed car in Illinois?
When cars are financed, they're usually financed by a bank or some other type of lender. Once the car is repossessed, and the person it's repossessed from fails to recover the vehicle, the vehicle is sold at auction. Dealers attend these auctions, and bid on those cars. Once they've placed a winning bid and paid for the vehicle, it's theirs to sell. Now, if a dealer is the one who financed the car, they'll be the ones to repossess it. Once they've determined the person it was repossessed from isn't recovering the vehicle, they have every right to sell it. Hate to break it to you if this was your car, but it was never yours - so long as there's a lien on that vehicle, the lien holder is the rightful owner of the vehicle. Once they've given up on you reclaiming and making further payments on that vehicle, they can do whatever they want with it - because it belongs to them, and always had, from the moment they became the lienholder.
Can a lien be placed on property that has joint ownership when the car that was repossessed had only one person sign that contract?
Absolutely, yes.
Can a bank demand payment in full on an auto loan if the vehicle was repossessed for no insurance?
Yes. A bank repossesses a vehicle for nonpayment. If your vehicle was taken for being on a public roadway and not having insurance, it was impounded. When a vehicle is impounded, a lien is placed on it by the agency which ordered the impound. The interests of government agencies override those of the bank, and they can sell your vehicle to recoup impound costs if you do not reclaim it within a specified period of time. In this case, the bank receives nothing from the sale, and you still owe the bank the remaining balance.
Can your car get repossessed for not paying your insurance?
IF your loan contract specifies that you must maintain insurance covering the vehicle, the answer is YES. Just an echo of the previous answer, most major lenders require that the vehicle maintain full coverage insurance. It states in your finance agreement that the vehicle must remain insured or it can be repossessed.
Where is the jack placed in order to lift the vehicle?
It's different from vehicle to vehicle. you'll have to check in the manual for safe jacking points.
Can a towing company place a lien on a vehicle and the vehicle owner's driver's license for money owed?
A lien can be placed on the vehicle after due process is followed according to the law in which the incident took place. A lien cannot be placed against the persons's license. YES in some states, Florida, Washington, California come to mind a vehicle towed at the request of a law enforcement agency can have a lien placed on the vehicle and after the sale of it any and all negative balances due can have a lien placed upon either (depends on the state laws) the vehicle license plates or your drivers license.
