no they cannot
Only if you stopped making payments and are behind on your on your payments.
i think so:D
No, they'd repossess your car.
No. Only the lender can "repossess" a vehicle. You need to keep making the payments to protect your own credit. It is likely you would need to bring a court action, prove you are making the payments and petition the court to order a transfer of title.
when you arent making payments for several months when you dont pay your taxes
Once the loan is in default the bank has the right to refuse payment and repossess the vehicle.
as long as you keep making payments the lender will probably not repossess the property. however, if you miss one payment the lender can repossess the property at any time.
No. You are the primary borrower and are honoring your financial obligation.
Yes, if you are not making the payments the bank can repo your truck.
They should since they are just as responsible for making payments as the primary.
They can repossess your car if you defaulted on the loan. You knew you owed the money and you knew you didn't receive a payment book. It was your obligation to contact the lender to arrange to make your payments. You should seek the advice of an attorney who may be able to negotiate with the lender on your behalf. Not making your payments for your debt on such a technicality is really dangerous.
carolene, normally, banks dont turn accts ovet to CA unless the payments are NOT being made. Have you bothered to call the bank and inquire as to why this is happening?
Yes they can even though it is on your private propery since you have no longer been making the payments the bank owns it and it is their property and they have the right to retrieve it
Why would a dealer ask for a car back? If you are referring to how long he has to repossess the vehicle after you stop making payments, the answer in most states is immediately.
That would be at the lender's discretion. Call and ask. Banks don't like to repossess and if you are making an honest effort to correct the default they will probably go along with you.
YESIFyou are not up to date, if you are behind on your payments they can repossess at anytime. In most loans, there's a statement about late and/or partial payments that basically says the bank can take them but isn't obligated to do so and that taking one late or partial payment does not mean that they have to continue to do so.So, if you owe $200 a month, and pay $100, the bank can accept that and still repossess the car. They do have to credit the $100 towards the loan.Also, banks are usually allowed to repossess for habitually late payments. Most of the time a bank will consider this to be more hassle than it's worth as long as you're eventually catching up, but if you're chronically making payments several weeks late, they might at some point decide "this guy is a flake, we should get out of this deal while we still stand some chance of recovering our money."
It appears you co-signed so you are out of luck. You are then considered the lender and took the responsibility of the loan. Legally, if this person kept up their payments there is nothing you could do because the vehicle is theres. However, they are delinquent on keeping payments up, so go to the banking institution or whomever you dealt with and tell them you want to continue payments, but want the vehicle. They will advice you on what course of action to take. It depends on how the vehicle is registered/titled. If you are listed as an owner, you have the right to have the vehicle picked up. In most cases, the co-signers are not listed so hopefully you were smart enough to be listed as an owner.
Yes, furniture can be repossessed if you start making payments again after 6 months, especially if the missed payments are not caught up. The creditor can refuse the payment if court proceedings are already in progress.
Grab all yu can and get the heck outta there what can happen when you are making monthly payments on a debt,debtor says its not enough?
If the co signers credit is going to be affected because of the lack of payments from the payee, and if the co signer is paying for the payments, then yes the car can be given over to the co signer, especially if the payee is not paying for the car that was agreed upon. check with the finance companies, and your local state, county laws.
Yes. If daughter is nowhere on the title or loan, it is called third party possession. If she is a co-signer, it is called taking your turn driving it.
It is faster and easier to repossess the car if you default on the loan, but it is more difficult to get you out of your house if you are not making payments.