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NO. If the lender is trying to repo the vehicle and they can't find it,they cannot report it as stolen. Only the owner can do this. "STOLEN" is defined as "unlawful taking". You did not "take" the vehicle unlawfully. If you refuse to surrender the vehicle the lender may get a judgment (Writ of Replevin) and have the Sheriff's office come knocking on your door and only then will you have to surrender the vehicle or tell them where it can be located. Why stress over a vehicle? The value keeps going down and there are plenty of cars out there to buy. If for some reason, such as illness, loss of job, etc., where you cannot make the payments and no hope of making up the late payments, call the lender and have them pick up the vehicle. You'll get another vehicle one day. Just remember to remove your belongings and the plates. If you added anything on the vehicle you can remove that to. The lender doesn't know if you put in a new stereo system, and the car and everything in it is yours until it is returned.

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โˆ™ 2011-09-12 14:51:19
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โˆ™ 2017-01-08 21:03:00

The thing you need to keep in mind is that the lienholder IS the owner of the vehicle. Until you've paid off that lien, and hold the title in your hand, you do not own that car. Can they report it stolen? Yes, they can. Once you've refused to surrender the vehicle, your retention of it violates the terms of the contract whereby the lienholder (the actual owner of the vehicle) allows you to retain and use that vehicle. So yes, it is unlawful taking at that point. Will it happen? EXTREMELY unlikely. The lienholder doesn't want the car, nor would seeing you go to jail benefit them in any way. For one, it would be a serious PR black mark, not to mention that, if you went to jail, you would lose any employment you have, so how would you pay them back?They'll start by sending notices to give you a chance to respond, and they'll often be willing to work out something with you - again, their interest is in getting their money, not throwing you in jail. If that fails, then the repossessors come. Now, I have heard of recovery agents reporting vehicles as stolen (acting as agents on behalf of the lienholder - the legal owner of the vehicle), after they'd been told, "well, I just don't know where it is", but I've never known any who have actually done this, although I have known some to have filed missing property reports.

If the repossession succeeds, the vehicle will be auctioned off, and you'll be expected to pay the remaining balance owed. Which, you can either work out a payment plan or be sent to collections. If it fails, then they'll typically turn to a civil court, and a judge will order you to pay up or surrender the vehicle. Once that happens, then noncompliance will throw you in jail. A finance company would not, although it is possible.

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Q: Can a loan holder report car stolen?
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Related questions

If you loan your car and it is not returned is it stolen?

it is if you report it to the police as stolen


Can the lien holder report the car stolen for being behind in payments in California?

Think about it, the car was NOT in their possession, so how can they report it stolen? They cant. Its a CIVIL matter NOT criminal.


If your car is up for repo but is stolen before you return your car what happens?

When your car is 'stolen", you file a stolen car report with the cops. Then your INSURANCE will pay off the loan. The lender will deal with the insurance co. and alls well. You dont have a car, but no payments either. BTW, the insurance co. HAS to be sure its stolen or they wont pay the loan off.


What can i do if i am listed as a cosigner and my spouse took the car and left the state?

i would report it stolen. if the payments are made the loan company can and probably will come after you for the money. If you report it stolen to the cops you can at least report it to the insurance company and the loan company and that should remove your responsibility.


What if you report the car stolen and its not?

You are committing a crime if you knew the car not to be stolen.


What can you do if husband took car and car loan is under your name?

Call the bank. Explain the situation. Try to get the loan transferred into his name. If he doesn't co-opperate, call the cops and report it as stolen.


What do you do if you loan your car to someone and they don't return it Can you have the car repossessed?

You send them a certified letter demanding return of the car within 3 days. If no response, report it stolen.


If a person is 4 months late on a car payment can it be reported stolen?

NOT unless it was stolen. Stolen cars are reported stolen. Cars securing a loan in DEFAULT are reported as DELINQUENT to the credit bureau. If you choose to report the car stolen, go ahead. I would not reccommend it though. Filing a false police report is illegal in most jurisdictions.


Can derogatory information remain on your report due to upaid tickets if you were'nt the one who got them and were unaware they existed until posted to your report?

you can request a hearing with the dmv, were these parking tickets? DId you have licencse plates stolen? Did you loan car out? you can request a hearing with the dmv, were these parking tickets? DId you have licencse plates stolen? Did you loan car out?


Can a creditor sell the title to an auto loan that has gone into repossession and claim that the vehicle was stolen?

The creditor is the lender. In most states, they have a lien on the title to secure the loan, but are not the title holder themselves. It is fair to say they cannot sell something they don't have. If a loan is in default and the security for it is repossessed, the title can then be gotten by the lienholder and sold to provide funds to payoff the loan. The creditor is the lender. In most states, they have a lien on the title to secure the loan, but are not the title holder themself. It is fair to say they cannot sell something they don't have. Why a creditor -bank- would then ever report a car as stolen, I can't follow. Presumably you mean the debtor or borrower wants to report his car as stolen and also sell it. Can't sell it without providing the title. can't provide a clear title without paying off the loan. If you did sell it somehow...then it wouldn't be yours to report stolen would it? If you don't sell it and report it stolen when it really wasn't, this is highly illegal. You can't use it yourself, nor can anyone else. Anyone in the car will be in a stolen vehicle. Grand theft is the term that comes to mind. And when the car is in the possession of the one that reported it stolen, or someone that shows that person knew it wasn't - even worse actions will result to them. But simply, this is the type of thing that is easily discovered and doesn't do any good anyway. That the car was stolen does NOT stop the borrowers obligation to pay back the loan in full and on time anyway.


How can you find a car that has been stolen by your business partner?

Report it stolen.


Can the bank report the car stolen if you default on a car loan?

NO, it wasnt stolen. No, why would they report it stolen? If you default on the loan they will simply have it repossesed in order to sell the car and recoup some (and if they are lucky all) of the funds needed to payoff the debt. Yes they can actually. If you are leasing or financing you signed a contract. Once you default on that contract, the contract can be deemed void and therefore your rights to drive the car can be terminated. If they are unable to reach you and you are "not cooperating" they have the right to report their property as stolen in order to get the vehicle back. For further help, look over that contract you signed. = )

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