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Yes, if the lending agreement was in default and the lender found it necessary to implement collection or repossession action at their expense. The majority of financial contracts contain clauses allowing the lender to charge the borrower additional fees and penalties for, late or missed payments, collection or repossession costs, and so forth.

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โˆ™ 2006-02-24 14:05:17
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Q: Can the bank or the repossession company charge a fee if the car was never recovered by them and the loan was paid off?
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Related questions

What if the finance company never finds the repo car?

In multiple years working in the industry, there has never been a never. The repossession company will eventually find your car, even if you chop it up and sell it for parts. I done found them this way myself.

What is the likelihood that your stolen car will be recovered?

If not recovered within first three weeks after loss, chances are it will never be recovered. Only about 30% of cars are recovered

When was the titanic recovered?

Titanic herself will never be recovered but she was discovered on Sept. 1st, 1985.

How do you remove a repossession on your credit report after bankruptcy is discharged?

You present proof that the repossession never occured. You can dispute it with the credit reporting agency.

In Georgia should you do a voluntary repossession or just repossession?

The second to last sentence should read - Never will a voluntary repossession cost you MORE than a forced repossession. A repo is a repo. Voluntary Repos will, in most cases, save you money due to the cut in fees associated with the repossession. In some cases these fees will not be any less and the cost of a voluntary repo and the cost of a forced repo are the same. Never will a voluntary repossession cost you less than a forced repossession. Either way, voluntary repossession is the decision I would make, due to the possibility of a lesser cost.

The south never recovered from what battle?

the battle of Gettysburg

Has Australia recovered form imperialism?

NOOO! and they never will

How do you get the title to a car you've had 5 years is on your credit as a repossession but the company never physically repossessed?

contact the lending institution and offer to make partial payment in exchange for the title.

Was Khufu ever found?

His mummy has never been recovered.

The loan company says they never received your payment and repossessed your car yet there is a bank record of the money transfer what can you do?

Most attorneys love 'wrongful repossession" cases. Call one in your area.

Was Adolf Hitler's body ever recovered?

No, his body was never found.

Is jobsformom a scam?

Yes, it is. Forever and always, no legitimate company will charge you to work for them! Do not send them $40, you will never see it again!

Can a company charge whatever they want if there are no competitors?

Technically, yes, but there would never be such a situation in U.S., as that would be monopoly, which are illegal.

How many body's out of 3000 have been recovered from September 11?

I heard only recently that 40 % of the victims were never recovered. So 1800 (approx) were recovered. The twin pools are the resting places for the 1200 others

How long was the recovery after the volcanic eruption from Mount Tambora 1815?

they never recovered

Where was the world cup found after being stolen in 1983?

It has never been recovered.

How many babies died?

1. And theres another but it is never been recovered.,.,.,.

Did the bodies of the challenger spaceshuttle recovered?

All of the bodies were recovered, but it was never determined how the astronauts died. It is assumed they died due to the impact with the ocean, and not the explosion itself.

When did the axis powers capture Stalingrad?

The Axis never won Stalingrad which was a significant defeat for Axis forces from which they never recovered .

When did John Rockefeller got sick and recovered?

John Rockefeller got sick from depression and digestive issues when he was only in his 50's. He never recovered and died in 1901.

What if your vehicle was repossessed but you never received a repossession letter what do you do?

Repossession letters are not required in every state. In some states, face to face notification of the repossession suffices, and when the driver came to hook up your car, if you had a conversation with him at all (even if it consisted of you yelling "Hey!" and him gesturing to you) you received notice.

How did Mary Edwards walker die?

She fell on the Capitol steps and never fully recovered.

The missing world cup stolen in 1983 where was it found?

It has never been was not found

Who has the first world cup trophy?

It was stolen for a second time in 1983 and never recovered.

What is the difference in a charge-off showing on your credit verses a repossession?

In terms of credit score, about 10 points worse. You might pay off a repo so its slightly better than one that you never did anything about and the lender charged it off.