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The company who repossessed the car now has the collateral to make up for the amount of the balance of the loan owed to them. If there is more owed on the loan than the car is worth, it is possible to be sued for the deficiency. If a judgment is entered after this occurs, and that amount is not paid or settled voluntarily, the lender could seek to garnish a bank account or a person's wages or file a lien against real property. If the motorcycle has a loan on it, it is already encumbered and not subject to a separate lien.
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If the creditors repossessed a motorcycle and then DID NOT sell it at an auction do you still owe?
No you don't still owe; once the motorcycle has been repossessed, it is no longer your concern. Whether the creditor sells it or fails to sell it is the creditor's problem, not yours.
What happens to cars that have been repossessed but not auctioned off yet?
They are impounded until further action is taken
How old do you have to be to have a motorcycle license in Kentucky?
To ride a motorcycle in the state of Kentucky, you will need a motorcycle license. A skills test is necessary to pass the exam unless an approved motorcycle safety course has been taken and passed.
What do you do once your car has been repossessed?
I have a welding machine on the truck they repossessed can they keep that?
When a car is repossessed what do you do with the insurance?
When a car has been repossessed the person paying the insurance should cancel it.
A human skeleton that has been taken apart is called what kind of skeleton?
A human skeleton that has been taken apart is called a disarticulated skeleton. This means that the individual bones have been separated from each other, as opposed to an articulated skeleton where the bones are connected.
When to use have and have been?
The word 'have' can be used to describe something done to something else, eg. "I have ridden a motorcycle.". The phrase "have been" can be used to describe something done to you, such as: "I have been taken advantage of.".
When a vehicle has been repossessed and taken to the auction does Honda carry insurance on it?
Not only does Honda have insurance on the vehicle, so does the repossession company, the storage company, the transport company, and the aution agency.
In Utah can your wages be garnished for a car that was repossessed?
You do not owe money for a car if it has been repossessed, so your wages can't be garnished for that reason.
Can a cosigner have a car repossessed if the loan has been in arrears?
yes
Where can you find motorcycle parts for a pioneer motorcycle?
You can find motorcycle parts in a motorcycle shops that have been established 20-40 years old already.
How soon can you buy a car after a car has been repossessed?
You can buy a car right after your car has been repossessed. It will however, depend on whether your credit is stable enough to qualify or if you have the cash to pay out of pocket.
