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This depends on the state in which the repossession happens. Not all states require repossession agents to be licensed. All states do require they be insured. Another way to look at this is, if an employee of the lender comes and repossesses the vehicle, they do not require a repo license in any state.
What else can I help you with?
How long does a company have to wait to repossess a vehicle?
This would be determined by the terms of the loan agreement and the applicable local laws. Within the loan agreement there should be reference to the action that can be taken to repossess the car should non-payment arise.
What items can they repossess?
Any item that has a "note", or a contract that you are paying on, can be repossessed if you do not pay. These can include:carstrucksmotorcyclesboatsrecreational vehiclesAlso, a repossession can be initiated if it is illegal for you to drive. For example, one person is not allowed to put a car in their name with the purpose to allow a non-licensed driver to have possession of the car. The person who is legally named on the title can re-possess the car to rectify the wrongful decision to circumvent licensing laws.
Do late fees be used for repossession of a vehicle?
can you repossess a car for non payment of late fees even though the initial payment has been made in Colorado
Can you repo a car from a casino on tribal land?
For a non-tribal member lien holder to repossess a car on tribal land, that entity must first obtain a repossession order issued by the tribal court. State court issued orders will not suffice. Once an order is issued by the tribal court, granting permission for lien holder to enter tribal land to repossess, repo proceedings can commence.
Can a co-signer for a car repossess the car for non-payment and or failure to maintain insurance?
NO, a co-signor cant repo anything. IF your name is on the TITLE as co-owner, you can take possession. NO name on the title, all you can do is work with the lender and take care of it that way.
Can your car still be repossessed after you've paid half of your past due balance?
Of course. The whole idea of "security" in your pledge of the car in exchange for the loan is that it is easier to repossess it than to sue you for non-payment, and that applies up until the very last payment is made.
What happens if you return a car?
You cannot return a car you have purchased. If you do they will just put it in storage, charge you for everyday it is there, and then the lender will repossess the car for non payment of the loan. They will sell the car and you will then have to pay for the storage fees, repossession fees, and the difference in what the balance on the loan was and what they sold the car for. Bottom line is that you bought the car, you own the car, and you are stuck with the car. Don't like it then sell it. There is no cooling off period on the purchase of a vehicle.
do a non profit church have to be licenced to open a day care?
Yes. All day care providers operating in Louisiana must be licensed.
What happens if you let a non licensed driver drive your car?
If they are stopped your car could be impounded. If they get into an accident you are responsible for damages of your car and the other person's car. Not worth letting them drive.
What recourse does a used car dealership have if they need to repossess a vehicle in Texas for non payment but cannot locate it?
A dealership willnot need to repossess a vehicle in any state unless it is a buy here pay here type dealership. If this is the case, the dealer should contact a local, private repossession company. Find one of the larger possible companies, this will offer more resources. Then leave it to them. It could take some time, but if you give them all the information you have on the debtor, they will find and secure your car.
Can they repossess your car with you in it?
A valid repossession must not cause an unlawful breach of the peace - even if the debtor is the one instigating the breach. So if the debtor gets into the car, it cannot be repossessed at that time, you'd be kidnapping them essentially. In the USA, this actually happened, the repossession was declared to be non valid and the debtor awarded a cash settlement in court.
How long after non payment is lender able to repossess auto in the state of fl?
One day past the grace period is permissible.
