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Legally, once you have defaulted they have the power to take your car at any time...even after dark. Many cars are repossessed at night as the repo men can expect less chance of confrontation when you are sleeping.
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∙ 14y ago
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If you are a cosigner on a loan will a loan company repossess the vehicle then let you pay it off and take possession without ruining your credit?
Contact the lender and let them knoiw that if ANY case the debtor defaults to notify you so you can payoff the loan. Add that you will payoff after repo with NO repo reported on YOUR credit.
Will a finance company settle a charged off auto loan since they didn't repo it?
A finance company could settle the auto loan. You simply need to get in touch with the company and make an offer. Be sure to get any agreement in writing.
Can the finance company garnish your wages for the amount of a repo?
IF they get a JUDGEMENT, they can. The amount of the repo is small compared with the remainder of the car loan but they generally sue for everything.You can fight it and counter sue to reduce the amount you owe.
Is it legal for a company that sold your loan and received cash for it to try to repo your car without contacting the company who now holds the loan?
Lets try this; Co.A sells your loan to Co.B for "cash". Now Co.A wants to repo your car? IS that the question? If so, how Co.A got paid is immaterial to you. They could have been paid in widgets as long as Co. A and Co. B were happy. Id Co. A sold with RECOURSE to Co.B and you DEFAULT on the loan, then Co. B will tell Co. A"its back to you now, GO REPO IT". If i understand your question right, the answer is YES.
If your car is damaged while it is being repossessed who is liable for the damages the loan company or the repossession company?
The LENDER is responsible for every detail of a repossession. They may pass the costs of repair on to the repo company.
Can a title loan company repo your car on private property?
Yes they can
Can a repo company put a seize on your license and license plate and threaten to have you charged with a felony if caught driving the car they are trying to repo?
No, that is the job of the company that gave you the loan. The repo company can take your car the second they find it, but the real expense and trouble comes from the loan company you stole from. If you do not release the car you are in possession of stolen goods after a court judgment.
What if your loan company wants to repo your car and you no longer have it?
Then you're still liable for the money you owe the lienholder.
Can a title loan company repo a car that wasnot on the title loan agrement for nonpayment?
They can only repossess the vehicle which was on the loan agreement. Taking any other vehicle is theft.
You can't pay for the car but the company won't come get it?
The bank that you have the loan with hires repo men to repossess the vehicle
If you are a cosigner on a loan will a loan company repossess the vehicle then let you pay it off and take possession without ruining your credit?
Contact the lender and let them knoiw that if ANY case the debtor defaults to notify you so you can payoff the loan. Add that you will payoff after repo with NO repo reported on YOUR credit.
Will a finance company settle a charged off auto loan since they didn't repo it?
A finance company could settle the auto loan. You simply need to get in touch with the company and make an offer. Be sure to get any agreement in writing.
If your son bought an ATV and you cosigned for him and then filed bankruptcy and your son is behind on payments can the repo man come to your home every 48 hours after you told him your son moved out?
As cosigner on the loan you are equally responsible for for payment on the loan. If the lender has hired a repo company to take back the ATV for non payment, then the repo company is going to do everything possible to get it. That includes the frequent visits to your home in an effort to locate the ATV. If you want the repo man off your back, tell him where to find what he is looking for....or contact the lender and bring the loan payments current immediately.
Can the finance company garnish your wages for the amount of a repo?
IF they get a JUDGEMENT, they can. The amount of the repo is small compared with the remainder of the car loan but they generally sue for everything.You can fight it and counter sue to reduce the amount you owe.
If a car was paid for and then you took out a title loan against it for twice the vehicle's value can the title loan company repossess it?
Why would they NOT be able to repo a car they purchased the title to? READ your contract.
Is it legal for a company that sold your loan and received cash for it to try to repo your car without contacting the company who now holds the loan?
Lets try this; Co.A sells your loan to Co.B for "cash". Now Co.A wants to repo your car? IS that the question? If so, how Co.A got paid is immaterial to you. They could have been paid in widgets as long as Co. A and Co. B were happy. Id Co. A sold with RECOURSE to Co.B and you DEFAULT on the loan, then Co. B will tell Co. A"its back to you now, GO REPO IT". If i understand your question right, the answer is YES.
If your car is damaged while it is being repossessed who is liable for the damages the loan company or the repossession company?
The LENDER is responsible for every detail of a repossession. They may pass the costs of repair on to the repo company.
