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No. They're not there to collect money, they are there to reposess.
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∙ 15y ago
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Can a repossession company keep your personal belongings for the storage fee in Wisconsin?
In most cases, a repossession can keep personal belongs for non payment. The company, however, must release them once payment is made.
How late can a vehicle payment be in Virginia before repossession?
I am a repossession agent in Virginia it takes 2-3 months of not paying before the repossession status occurs.AnswerI am a repossession agent in Virginia it takes 1 missed payment then repossession status occurs.
What is the definition of repossession?
Repossession is when something is returned to its original owner. An example would be when a car payment is not made, and the owner of the car's title repossesses (takes back) the car.
When you keep the promise to bring the car loan to current and pay to do so can the lender still reposess the car?
It can happen. If the order for repossession is already out when the payment is made, it may take a couple days for that payment to be processed, and that order for repossession will not be called off until the payment is fully processed.
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 repossession happen for being 10 days late on a payment?
Repossession can happen any time after a payment goes late; it all depends what the initial contract states.
If you make one payment when payments are behind can this stop the repossession?
Check your loan contract, but in most cases (99.99%) if the payment does not represent the total past due amount, or if you do not have arrangements with the lender setting asside repossession actions in lieu of payment arrangements, no; one payment toward a past due balance will not stop or delay repossession of the vehicle.
Can lien holder repo vehicle if not paid?
Yes. That's the sole cause for repossession, when the payment/s haven't been made.
When would a house be in danger of repossession?
Typically, a house can be repossessed after 90 days of non payment by the mortgage holder. However, it is not illegal for repossession to begin after a missed payment, though this is extremely rare.
What happens when you get call regarding repossession but no letter after making a payment?
One payment may not be enough to stop the progress of the repossession proceedings. You need to communicate with the mortgage company and arrange to make regular payments.
How will one be able to stop the repossession of a vehicle?
Sometimes one can negotiate with the company holding title to the automobile and work out a payment schedule to pay back the amount in arrears, but some companies will not negotiate at all. The easiest way to prevent a vehicle repossession is to ensure that all payments are made according to the payment terms.
What is the statute of limitations in Georgia for repossession of a vehicle?
I don't think there is a statute of limitation on repossession of a vehicle anywhere as long as there is an overdue payment outstanding.
