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What else can I help you with?
Can the car lender reposses the car because of bankruptcy 7?
A creditor cannot reposses a car without BK court approval (i.e. relief from the automatyic stay). However, if you do not keep paying the car loan, a BK will allow a creditor to reposses the car.
What can you do after your car gets reposses?
It depends on what you want to do...If you want to get your car back, contact your lender and see what they want...
How can you get a repossessed car back when it was taken for lack of insurance in Florida if you have had insurance the entire time?
CALL the LENDER. Clear up the ins. dispute with them and go from there.
If you spoke to the lender and made arrangements to make a payment that is 30 days late and they aggree was it wrong for them to reposses the car the next day anyway?
Nope.
What type of insurance should a cosigner obtain on a car?
The insurance reuire by your lender.
What if your car was repossessed due to lack of insurance yet was insured at time of repossession?
Vehicles cannot legally be "repossessed" due to a lack of insurance. Re-possession can occur only when there is a default in the payment contract and the original owner (the lender) recovers their property from the defaulter.
What is the importance of collateral insurance on a car loan?
Collateral insurance on a car loan is important because it protects the lender's investment in case the car is damaged or destroyed. If the borrower defaults on the loan, the insurance ensures that the lender can recover the remaining balance by claiming the value of the car. This reduces the lender's risk and allows them to offer lower interest rates to borrowers.
Can a creditor reposses your vehicle if you have the automobile and the title?
Yes, IF the lender has a contract specifing the car as collateral for the loan. Once you use the car for collateral, all the titles in the world wont stop the repo if you default the loan.
How many times can you be late on payments before the car is repossed in Maryland?
ANY LENDER, by law, can reposses your car if your 1 day past due! There is no stopping them. You need to act fast before it is too late.
Can they reposses your second car for the first defaulted car?
no
How do you reposses a car if you do not know where it is?
You search for it.
Are you required to have auto insurance on a car that you dont drive?
If the car if financed, the lender will require you to insure it. If you own the car, and don't drive it, you are not required to have insurance.
