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Can one vehicle be moved to get to the debtor vehicle in repossession?
Wiki User
∙ 11y ago
This is one of those questions that the answer depends on who you talk to. As a repo agent I have tried to find the answer and it has been difficult. I believe the answer is yes, but if the repo agent damages the car he is moving then (of course) he is responsible, just like he would be responsible for damage caused to a vehicle he was repossessing.
Wiki User
∙ 11y ago
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A sample letter of vehicle repossession for the state of Texas Where can you find one?
Sample letter of vehicle repossession for the state of texas
Can they repossess your car with you in it?
A valid repossession must not cause an unlawful breach of the peace - even if the debtor is the one instigating the breach. So if the debtor gets into the car, it cannot be repossessed at that time, you'd be kidnapping them essentially. In the USA, this actually happened, the repossession was declared to be non valid and the debtor awarded a cash settlement in court.
What are the vehicle repossession laws in Arkansas?
Vehicle repossession laws in Arkansas is the same there as it is in every other state. One must pay his loans or risk facing legal action from the one that one has borrowed from.
Is a lender in Missouri required to send the borrower a Notice of Right to Cure before repossession action?
No, Missouri has no laws that require the creditor to notify the debtor that a vehicle is subject to repossession.The lender can have the vehicle repossessed without notice as long as the repossession does not commit a breach of peace as defined by the laws in the jurisdiction where the vehicle is seized.ADDED: While the above answer may have been correct at the time it was written - it is no longer applicable.Quote: "As per the UCC, repossession is allowed and permitted as long as it is peaceful, after a Twenty Day Right To Cure Letter from lienholder to debtor. One time cure law in effect in Missouri; all others per contractual agreement." unquoteSee below link:
Can you collect a repossession fee if you do not send a pre repossession letter in Maryland?
In Maryland, a repossession fee cannot be collected if a pre repossession letter was not sent to the debtor. The letter is a legal requirement that must be provided before repossession can occur, and failure to send it could invalidate the repossession.
Can one be held criminally liable for concealing a vehicle repossession in Wisconsin?
yes. its stealling.
Can a consumer legally hide a motor vehicle in repossession?
No you can not "legally" hide a vehcile being sought for repossession. In most states you can be charged with a felony for hiding one.
If your vehicle loan was made in one state but the vehicle is currently in another state which state's repossession laws apply?
the state the car is in govern the repossession, the lenders choice on which state governs collection efforts. Read your contract.
How much is a repo fee from gm?
Repossession fees are variable for all auto lenders. Repossession fees are real costs that are accrued in the repossession of a vehicle, or based on these costs. Fuel, number of visits, wages, insurance, etc. are all taken into account. So the repossession fee on one vehicle may be vastly different, greater or less, than the fees on another.
How many days deliquent can someone be on a car loan in Connecticut before facing repossession?
Typically, one day past the grace period. Some lenders will only permit a debtor to be two weeks delinquent before starting the repossession machine.
What is the statute of limitations on defaulted car loan in Colorado?
When a car, truck, or other vehicle is financed, the finance company or bank retains significant rights in the vehicle, until the last and final payment is made on the note. The rights of both the "creditor" and "debtor" in this situation are established in the signed finance agreement and by state law. In Colorado, when a consumer debtor defaults upon an automobile finance agreement, the creditor bank must first send one notice of "right to cure" per 12-month period, before exercising its right to repossess the vehicle. The debtor must be in default for at least ten days, prior to the issuance of such notice. Thereafter, the debtor has 20 days in which to "cure" the default. If the consumer debtor does not cure the default on the note, the finance company or bank may then repossess the collateral. Consumer debtor rights continue, even after the repossession has occurred. A dealership or finance company that retains a lien on the secured collateral may exercise either of two options, upon repossession. Firstly, the lien holder may send the consumer debtor a notice of intent to retain the collateral in full satisfaction of the debt. If this option is exercised, the creditor bank releases the consumer debtor from any further obligation with respect to the repossessed vehicle and agrees not to pursue a "deficiency judgment" against the debtor. On the other hand, if the debtor objects to this course of action, or the dealer/bank elects, instead, to not release the consumer debtor from any further obligation on the finance agreement, the dealer/bank must comply with the post-repossession re-sale requirements of Colorado law. At which time, the consumer debtor must be notified of the date and time regarding a "commercially reasonable" sale. Upon the successful sale of the vehicle, the dealer/bank must provide the consumer with a detailed accounting of the proceeds of the sale. The debtor maintains the right to redeem the collateral up to the point of re-sale of the collateral.
In Texas how many months before repossession?
No months. It will be more like weeks or days. In practice, you can be one day past due and the lender can send your vehicle for repossession. It might be months before the actual repossession happens; it will depend on how difficult it is for the agency to secure it.
