In every state I know of, they must return personnel property. When you finance or lease a vehicle, your creditor holds important rights on the vehicle until you've made the last loan payment or fully paid off your lease obligation. These rights are established by the signed contract and by state law. If your payments are late or you default on your contract in any way, your creditor may have the right to repossess your car. Talking with Your Creditor
It is easier to try to prevent a vehicle repossession from taking place than to dispute it afterward. Contact your creditor when you realize you'll be late with a payment. Many creditors will work with you if they believe you'll be able to pay soon, even if slightly late. Sometimes you may be able to negotiate a delay in your payment or a revised schedule of payments. If you reach an agreement to modify your original contract, get it in writing to avoid questions later. Still, your creditor may refuse to accept late payments or make other changes in your contract and may demand that you return the car. By voluntarily agreeing to a repossession, you may reduce your creditor's expenses, which you would be responsible for paying. Remember that even if you return the car voluntarily, you're responsible for paying any deficiency on your credit or lease contract, and your creditor still may report the late payments and/or repossession on your credit report. Seizing the Car
In many states, your creditor has legal authority to seize your vehicle as soon as you default on your loan or lease. Because state laws differ, read your contract to find out what constitutes a "default." In most states, failing to make a payment on time or to meet your other contractual responsibilities are considered defaults. In some states, creditors are allowed on your property to seize your car without letting you know in advance. But creditors aren't usually allowed to "breach the peace" in connection with repossession. In some states, removing your car from a closed garage without your permission may constitute a breach of the peace. Creditors who breach the peace in seizing your car may have to pay you if they harm you or your property. A creditor usually can't keep or sell any personal property found inside. State laws also may require your creditor to use reasonable care to prevent others from removing your property from the repossessed car. If you find that your creditor can't account for articles left in your car, talk to an attorney about whether your state offers a right to compensation. Selling the Car
Once your creditor has repossessed your car, they may decide to sell it in either a public or private sale. In some states, your creditor must let you know what will happen to the car. For example, if a creditor chooses to sell the car at public auction, state law may require that the creditor tells you the date of the sale so that you can attend and participate in the bidding. If the vehicle is to be sold privately, you may have a right to know the date it will be sold. In either of these circumstances, you may be entitled to buy back the vehicle by paying the full amount you owe, plus any expenses connected with its repossession (such as storage and preparation for sale). In some states, the law allows you to reinstate your contract by paying the amount you owe, as well as repossession and related expenses (such as attorney fees). If you reclaim your car, you must make your payments on time and meet the terms of your reinstated or renegotiated contract to avoid another repossession. The creditor must sell a repossessed car in a "commercially reasonable manner" - according to standard custom in a particular business or an established market. The sale price might not be the highest possible price - or even what you may consider a good price. But a sale price far below fair market value may indicate that the sale was not commercially reasonable. Paying the Deficiency
A deficiency is any amount you still owe on your contract after your creditor sells the vehicle and applies the amount received to your unpaid obligation. For example, if you owe $2,500 on the car and your creditor sells the car for $1,500, the deficiency is $1,000 plus any other fees you owe under the contract, such as those related to the repossession and early termination of your lease or early payoff of your financing. In most states, a creditor who has followed the proper procedures for repossession and sale is allowed to sue you for a deficiency judgment to collect the remaining amount owed on your credit or lease contract. Depending on your state's law and other factors, if you are sued for a deficiency judgment, you should be notified of the date of the court hearing. This may be your only opportunity to present any legal defense. If your creditor breached the peace when seizing the vehicle or failed to sell the car in a commercially reasonable manner, you may have a legal defense against a deficiency judgment. An attorney will be able to tell you whether you have grounds to contest a deficiency judgment. Remember this repossession will stay on your credit for 7 years.
NO
Yes, the lender can refuse payment if it is not enough to cure the entire past due amount.
If the payment is late or not in full, then yes. If the payment is on time and in full, then no.
If you are delinquent on your car note, and the lender has ordered repossession of the car, a repossession agent may come to your home or place of work and demand you surrender the vehicle. If you refuse, or attempt to hide the vehicle, you could, in some states be held criminally liable. The lender could pursue criminal charges against you for hindering their efforts to recover their property. You see, when you contract to make payments on a car, you do not own it, the lender does. You are in essence paying to use the car until the loan is paid in full.
The creditor can file suit against the debtor and if the creditor is successful and is awarded a judgment the judgment can be executed against all non exempt real and personal property belonging to the judgment debtor.
== == NO
NO
The landlord refuses to return personal property until the balance of his rent has been paid. 3 months have passed.
The title is only released when the debt or loan is paid in full. If you want the lender to pick up the car, I'm guessing that you can't or don't want to make the payments. The lender can refuse to pick up the car, but, if the debt remains unpaid, they will probably have the car repossessed which will negatively affect your credit rating.
NO you cannot!!!!There are many dishonest repo people who try this scam to squeeze money out of already cash strapped people.They can charge you if they have removed ,inventoried and bagged your personal property........you know actually done something to warrant being paid.If they refuse to let you retrieve your personal property then contact the lender and ask for your PP back.If that fails contact the police and file a stolen property report and don't forget to include your lisc. plates. (if it applies in your state)
i am two months behind on my mortgage. can the lender refuse to take one payment?
Contact the lender they have to tell you where your car is so you can get your belongings.If they refuse send them a certified letter demanding the return of your property, list what you can and the approximate value.At the same time file a stolen property report with the police.If you don't hear from the lender sue in court.
The answer is in your question. The lender has asked you to sign a release and you refused. That is likely the least costly way for the lender to take possession of the property that it helped you pay for. You probably agreed to that procedure when you signed the contract for the loan. The lender loaned you money when you asked for it, you failed to pay the money back and you have refused to cooperate in their taking possession of the vehicle. This matter will appear on your credit record.
Yes, the lender can refuse payment if it is not enough to cure the entire past due amount.
No.
Its personal property its nothing the law can do you can take him to small claim court to get your stuff back. No you can't file theft charges against him
LaTonya, it seems unlikely that the lender would refuse to let you get your PP UNLESS you are wanting something unreasonable(strip the car???) Even so, a call from an ATTORNEY should change the program. FL - repo agent has to inventory the car and send a "notice of siezure" of PP then you have 45 days to reclaim and pay the "inventory fee's" or items may be disposed of or sold to collect on the debt. Send a certified letter to the lender demanding your personal property back with a 5 day time limit.And if you don't hear back sue them not the repo co. in small claims.