NO, BUT THIS IS A GRAY AREA.... HE CAN SAY HE IS PICKING UP THE VEHICLE BUT CANNOT SAY WHY, HE CAN ASK FOR YOU TO BE CONTACTED AND LEAVE HIS INFO. THE REST IS SPECULATION BY THE CO-WORKER
section 21
Depends on the state laws, they may need to serve you with a eviction notice before repo. Although if nobody is home and the repo man shows up good chance they would repo it and expect nobody lives in it.
No.. they really don't have to knock. They are allowed to take the car without any notice.
Pay your note
Not knowing what state you are in...YES it can. Few states require "notice" if you are referring to "right to cure". None require NOTICE, we are goona repo yo ride. Notice is when they bug you for 60 days wanting to get you to pay, answer the phone, quit pretending its a wrong number,ect. IF you were in default of the contract, they can repo, even ONE day late, IF they want to.
NO. the repo rate would go to the bottom if they told you. BTW, they already did in the CONTRACT. Look at the DEFAULT clause.
Probably not if you leave no assets behind.
YES, it is true in ANY state EXCEPT CA and FL.,there if its on the hook or in the agents control, its a repo.
If you keep going 60+ days past due, you receive a right to cure notice w/ intent to repo., and you don't answer your phone. If you show no interest in resolving the situation, they will repo the vehicle and let you deal w/ the problem.
After sending you a "20 day right to cure" notice they can.
You don't have to be given "any notice" of an impending repossession. That is all covered in the fine print that you signed when you got the loan or bought the car. Best thing is to contact your lender and see if you can work something out.
Usually, your CR isn't great before you take an "upside down" loan. But, YES, it hurts your CR. A repo ia a repo is a repo on any CR.