Can a vehicle be taken by the police for delinquent payments.
reposession
Once you drive the vehicle away from the dealership you have taken possession of it and cannot stop payment for any reason without committing fraud.
The finance company has the right to repo a vehicle the day after the payment is due if it is stated in your contract. they usually wait till you are 30-60 days past due.
If the town takes your property for non-payment of property taxes then you lose all rights in the property unless you redeem the land by paying the delinquent taxes.
No. You still owe the money and the creditor can go after you for payment. In addition, whoever you transferred the land to will come after you if they paid you any money for the land because the land can be taken from them by the town for delinquent taxes.
For delinquent gov't insured or guaranteed loans.
Yes this could be possible especially from an IRA account.
My 18 year old daughter bought a programs 2010 vehicle from a AR dealer with me as a cosigner. First payment due on 7-29-11 and she has the money for that payment however she just submitted her college schedule to her job wherein they told her they would see what they could do but no promisses. I have been taken off work due to health issues so this vehicle payment may get rough for anyone. Is there any clause in a law that states she can return the vehicle now?
Within the United States, there seems to be no statute of limitations on reporting unauthorized use of a vehicle. Report the crime to the local police if you want to press charges. However the use should be reported to the police immediately if you want your complaint to be taken seriously.
You can motion the court for redress. It would be advisable for you to take all proof of payment to court with you and be prepared to show it. As the listed borrower on the note, he has as much right to the vehicle as you. However, if the vehicle is registered only to you, and you did not consent to the vehicle being taken, you could also report the vehicle stolen, and by whom.
If you financed the car at one of those ripoff buy here pay here lots they can and usually will. Sorry.
Yes, and many people do object to their vehicles being repossessed, before and after the repossession. Unfortunately, your objection will have little effect. If you are delinquent or in default on your loan, and the vehicle was used to secure the loan, the vehicle will be repossessed. There are few legal options available to you to avoid this aside from paying the loan current.