YES, as long as the car is collateral for a loan, they can repo it.
Yes they can repossess everything that you got a loan for.
A bank can repossess a car at any time the loan has defaulted. Many times a bank will wait until a payment is 2 to 3 months behind before repossession.
As long as the bank is listed as the lienholder on the title and as long as you owe them money and haven't paid they can repossess the car.
It usually will take up to 2-3 months, they will call you with several options to see if there is anyway to figure a way for you to stay in the car.
when he has a credit
Check your copy of the contract that you signed for the loan. If this action for failure to pay is in the contract then they can do it.
If you aren't paying in full they can repossess the car. To a bank " some sort of a payment " doesn't count. Call them and make arrangements.
it is up to the bank to decide. Legally, as little as 1 cent.
YES, IF YOU CLAIM NOT TO KNOW WHERE IT IS. If you call the bank and say I dont know where the car is its gone, they are going to tell you to report it stolen. If you stop making payments on it then they will repossess, if there is no car to repossess then you are still responsible to pay the monthly payment car or no car If you stop paying and there is no car to repossess then they at that point can take legal action against you. I dont know if its reported stolen but take my word for it you will pay somehow.
When the owner defaults on the loan payments
If the bank holds the loan, then yes. If the payments are stopped, the bank will repossess anyways.
The cosigner becomes the target next. If you default, it is up to the cosigner to pay the bill or both of your credits are ruined and the bank takes their usual steps to repossess a vehicle.
Yes, the bank has the right to repossess the vehicle if you are in arrears on payments.
Not IF you reaffirmed the loan with the creditor.
Yes, unless there is a another previous lien holder.
I have NO IDEA, WHY look here if there is NO ANSERS
You have to be behind on payments for 3-4 months before the bank will do anything usually. 3-4 months is the industry standard, but every loan is different. A bank can put stipulations of any type on any loan, within the law. So the answer would be it depends on your loan.
Once the loan is in default the bank has the right to refuse payment and repossess the vehicle.
Banks can foreclose in as short as 90 calendar days.
If the bank has an order from a judge to liquidate or surrender property to satisfy a judgment, then yes, they may.
Bankruptcy will prevent a foreclosure but you still have to reaffirm the loan and begin paying or the bank will repossess your house regardless of bankruptcy. Bankruptcy temporarily halts the process for up to a couple months.
The bank doesn't need to sue. If the truck loan isn't paid the bank can/will repossess the truck.
The bank can repossess the car if payments are not made.