Best Answer

joe, think about it. YOU are the owner, they are the lender. OWNERS report cars stolen. Some of those lying,cheatin,lowdown repo people will tell you its reported stolen to try to get you to GIVE IT UP. IF its REALLY stolen, YOU(the owner) should report it stolen to help the lender out. It will benefit you in the long run.

The answer to your question is simple; Of course the lender,ie:LIENHOLDER can report the vehicle stolen. Here's why; even though the registered "owner's" name may be on the registration, until you FINISH making your PAYMENTS to the LENDER, they still very much own it. Which is why financing takes you 3-5 years, before you actually "own" what ever it is that you've purchased.

Actually this is another one of those ones that depends on state laws where the vehicle is registered.

At the time the vehicle was taken into possession of the OWNER it was not stolen and so once the loan goes into default that does not constitute theft but is infact a civil matter that local law enforcement has no effect on. That is why we have the two methods of "Self-help" and "Judicial Process" to recover a vehicle.

The lender could actually face criminal charges for filing a faults police report when they know in fact that the vehicle is in the possession of the OWNER. Now if they receive notice from the OWNER that they no longer have possession and that they did not give permission to whom ever is currently in possession of the vehicle then that may be classified as theft.

Ultimately though no repossession can take place using force or threat of force and that includes telling the OWNER they are driving a stolen vehicle. That will come to bite any asset recovery agency in the ass if such conversation was ever recorded or otherwise proven in a court of law.

In other words just don't do it. Best practices for legitimate repossession companies usually follow these and other strick guidelines.

Not all repossession agents are low life lieing scum. Only a low life lieing dead beat debtor would feel that way about us. ;-)

I don't believe the first poster said ALL repo people are lieing cheating...etc. he said some.Broad statements about any group are usually not valid.Iam amazed at the repo guys on this site(and there are plenty including the moderators) who try and defend any action by a repo person legal or not just because they are fellow repoers.Maybe they will figure it out when their liabilty insurance skyrockets because of the actions of a stupid few.....then again maybe not.

User Avatar

Wiki User

โˆ™ 2015-07-15 18:19:36
This answer is:
User Avatar

Add your answer:

Earn +5 pts
Q: Can lender report vehicle stolen during the repossession process?
Write your answer...

Related Questions

What can happen if you hide a vehicle from the repossession agent in NewYork?

after a legal process the lender can both sue and have you arrested.

What are the repossession laws in New York?

Repossession without judicial process is allowed if the lender has not breached peace. A lender repossessing an automobile must issue a notice to the borrower, and a lender can sell an item via public auction after repossession.

What do you do when your vehicle has been repossessed during an insurance claim in Texas?

Same as any other repossession, CALL the LENDER. Work something out.

Can a repossession agent take a vehicle without waiting for the borrower to show proof that payments have been made?

Yes. It is perfectly legal for a repossession agent to take possession of a vehicle when they are acting on behalf of the lender. The repossession agency does not have the option of allowing the borrower to retain the vehicle even though proof is presented that payments have been rendered. Such issues are strictly between the borrower and the lender. The lender and/or court being the only parties that can rescind the repossession action.

Will Harley dealership repossess when in for service?

Dealerships are not typically recognized repossession agents, however, if you bring in a vehicle for service, and a valid repossession order exists for that vehicle, the delareship may secure the vehicle for the lender so that repossession may take place.

Are the Lender of a repossession allowed to charge a storage fee and a repossession fee in the state of California?

In the state of California, the lender of a repossession may only charge fees that it incurs and that are in the contract. If the lender pays for the storage or houses the repossession, then yes, the lender is allowed to charge both a repossession and a storage fee.

How do you retrieve personal property from a towed vehicle?

Usual process is to call the local PD, find out who towed the vehicle and contact the tower for info on getting your PP. In the case of a repossession, you contact the LENDER to find out the details.

How do you stop a repossession in process?

Pay the past due amount on the loan or pay the loan in full. In the event you are able to do this, it is a good idea to have the lender contact the repossession agency to cancel the repossession while you remain on hold. If you fail to do this, it could take several hours for them to notify the repossession agency, and your vehicle could still be taken.

Is the cosigner of a vehicle liable if the it gets repossessed?

Yes. That is the point of the lender asking for a cosigner. The cosigner will have a repossession showing on their credit as well as the primary lender.

Can you be arrested if the auto lender comes to repo the car and you dont have it?

Not at the time the lender seeks repossession of the vehicle, but if it is found that fraud has been committed (vehicle hidden, sold, etc.) them criminal charges could be applicable.

Can a finance company check references for a repo car?

Any information you give the lender or the lender obtains in the attempts to recover the vehicle by repossession is legal to use for that purpose.

Can you get your vehicle back after repossession?

The first step is to contact your lender. They will have those answers. It usually involves making up past payments, and paying the repossession fee, and perhaps storage.

Is it illegal to conceal a car from repossession in Florida?

Concealment of a car up for repossession in Florida is a felony. You can be charged with hindering a lender in repossessing a vehicle, or even grand theft auto. Additionally, the state of Florida will not permit you to register any vehicle in your name if you have an active repossession against you.

What happens if you conceal a car on repossession in Florida?

Concealment of a car up for repossession in Florida is a felony. You can be charged with hindering a lender in repossessing a vehicle, or even grand theft auto. Additionally, the state of Florida will not permit you to register any vehicle in your name if you have an active repossession against you.

How can you get help writing petition for repossession of a vehicle?

not sure what your question is, BUT, if you want a car repoed and know the leinholder, CALL the lender.

Can a lender report a vechicle stolen while trying to repossess in the state of Florida?

In the event that the possessor of the vehicle is not a contracted party, or if the contracted party is actively seeking to hinder repossession, then yes, the lender can report the vehicle stolen.

What is repossession notice?

The most common type of repossession notice when a person has not been making loan payments for a car or truck. If the lender does not receive payments, the vehicle may be towed away.

What are the laws for repossession of a vehicle in Georgia?

The lender does not need to render a "Right To Cure" notice to the borrower when the contract is defaulted. Recovery of the vehicle may take place without judicial process only if it can be accomplished without a breach of peace. In other situations the lender should refer to, Georgia Code, 11-9-503.

If your car is going to be repossessed is it legal for you to sell it before the actual repossession?

Not without permission of the lender. A vehicle cannot be sold without a clear title of ownership. The lender is named on the title of a vehicle as the "lienholder" until the vehicle is paid for or otherwise released by the lienholder.

You just paid what they said you were behind on and they Repo it anyway with no notice?

Notice is not necessary in all state prior to repossession. In fact it is not necessary in most states. If you have paid current on the loan, and the repossession occurred anyway, this is likely a communication lag between the lender and the repossession company. It happens often. Contact your lender and explain what happened. Be patient and polite--they are not required to return the vehicle. They likely will because they want your money not the car. Ask the lender how you can get your vehicle back. Ask them who has your vehicle, and call that company to explain the vehicle was "wrongfully repossessed" and why. Again, be patient and polite--these people have your car.

If you purchased a car in Delaware and moved to Texas what are the laws for repossession?

The legal remedy for vehicle repossession is covered by UCC laws. Regardless of where the lender is located the car can be repossessed under the laws of the state where it was purchased or where it is now located, whichever means is most advantageous to the lender.

Can you set up payments for what is left after a voluntary repossession and the vehicle is auctioned?

You can always make an offer, but its up to the lender whether its accepted.

Can your wages be garnished for the repossession of a vehicle in Louisiana?

If the lender decides to sue the borrower and wins a judgment, the judgment can be executed as a wage garnishment

What are the North Carolina vehicle repossession laws?

When a debtor is behind on payments, NC law allows the lender to take possession of, or "repossess" the vehicle. A repo company on behalf of the lender can take the vehicle at anytime, anywhere that the vehicle is found and accessible. If the vehicle is in a locked fence or garage then the repo company cannot force entry to get to the vehicle.

In Texas do you need a writ of repossession?

No, all that is necessary is a valid repossession order from the lender.