YES, IF YOU ARE ON THE CONTRACT. but that also means you have rights to the car as well as the ex spouse....if he lets the car get repossessed it will also effect your credit.... we have live consultants that can help you with this specific situation ...so try our website www.stoptheREPOman.com
DO NOT LET YOUR CREDIT BE RUINED OVER AN EX!
Repossessed cars may be purchased from many car dealerships some specialize in repossessed vehicles and others may have the occasional defaulted payment. Another great place to find repossessed cars is with a financial institution, there are many people struggling, taking credit, the car is often the first thing repossessed when the loan is called in.
No. You cosigned on the loan. You are the bank's back-up payment if the first person defaults on payment and you become responsible. That is why it is very important that you trust the person you cosign for or you have the funds to pay for the car if they default. If you pay for the car, it becomes yours. Before it was repossessed, the bank should have notified you in writing. Then you have the option to take the car and pay for it. Both credits will by hurt substantially.
First, you have the burden of proof it was in the vehicle. This is nearly impossible unless you have photos of it in there as they took it. Judges are not sympathetic to those repossessed as there are so many who claim valuables lost while in impound or when repossessed. You will likely not be paid anything. Sorry, but the way the cookie crumbles.
check it out! http://janus.state.me.us/legis/statutes/9-A/title9-Asec5-110.html There are different laws in different states. The ones I am familiar with send the right to cure letter the first time the payment is 45 days late. It states that you may continue the contract if you make up the delinquent payments within 20 days. If you do not make these payments, the car can be repossessed on the 21st day. If you do make the payments and reinstate the contract, the car may be repossessed anytime you are in default - and that means even one day late - without giving you any additional notice.
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