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Can the borrower be arrested if the repossession agency cannot locate the vehicle?
Wiki User
∙ 17y ago
If there is suspicion that you are hiding th vehicle and effectively are guilty of theft, yes. Remember that once the lending institution gets a judgement, the vehicle is theirs and you no longer have any right to it. * If the lender obtains a replevin or other court order the judge might allow them to apply for a warrant but it would be rare. Vehicle repossession is a civil matter not a criminal one and the courts are very reluctant to overlap the two issues.
Wiki User
∙ 17y ago
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Can you be arrested for vehicle embezzlement if you are knowingly hiding a vehicle from a repossession agency in the state of Arizona?
yes.
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.
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.
What do you do if your car got repossessed when it wasnt supposed to?
If it truly was a wrongful repossession, call local law enforcement and report the vehicle stolen. If they notify you that it was repossessed, inform them that it was a wrongful repossession. Next, contact the lender and demand politlely that they notify the repossession agency that the vehicle was wrongfully repossessed. You might even, still politely, suggest some sort of compensation for you inconvience. Also ask for the contact number of the repossession agency. Call them and notify them also of the wrongful repossession. Suggest also to them some sort of compensation for your incovenience. Vehicles that are wrongfully repoed must be returned as soon as possible and in the same condition as when taken. If there is damage, the lender and the repossession agency are liable. If you are not satisfied with how quickly your vehicle is being returned, push the auto theft charges.
What is the legal procedure a small independent car dealer needs to take to reposssess your car?
The lender regardless of status (corporation, bank, "buy here, pay here" private seller, etc simply needs to hold a valid lien against the vehicle and have the vehicle recovered by a licensed repossession agency. A few states require the borrower to be notified before a repossession is possible, in most states a vehicle can be recovered as soon as the contract is defaulted upon. Wisconsin is the only state that requires a lender to obtain a replevin order from the court before seizing a vehicle.
Can a repo service come into your job and confront you and question the where abouts of the vehicle?
Yes. Under the self-help repossession laws a repossession agent can contact you at work and request the location of the vehicle. If, however, you request in writing of the repossession agency that you no longer be contacted at work, the agency is required by the Graham-Leach-Bliley Act, and the FFDCPA to cease all contact with you at your place of employment, unless they have no other means of contacting you, and then only to notify you of changes in the status of the recovery of the vehicle or the account.
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.
What is repossession insurance?
Wrongful repossession insurance??? Coverage for when the Repossession Agency wrongfully recovers an asset for a myriad of reasons.
When a vehicle has been repossessed and taken to the auction does Honda carry insurance on it?
Not only does Honda have insurance on the vehicle, so does the repossession company, the storage company, the transport company, and the aution agency.
Repossession laws for recreational vehicle in ny?
In the state of New York, provided there is a legal order for repossession, once the vehicle is located, it may be secured and recovered. The repossession agency has 24 hours to notify the registered owner of the repossession, but they are only required to do so by mail, and may do so to the address of record on the registration. They do not have to notify anyone at the time of repossession other than local law enforcement of jurisdiction. They must inventory and secure any property contained in the vehicle, and may charge a storage fee for that property.
Do Alabama repo companies have to notify you before repossessing your vehicle?
The state of Alabama is a self help repossession state, therefore a repossession agency is not required to notify you before they repossess your vehicle. Repossessors are under various state and federal laws and regulations and are prevented from breaching the peace among other things.
Can a repo company repo a car without giving wrighten notice of the repo?
Laws vary by state, but, generally, yes. They'll notify the law enforcement agency with jurisdiction in the area where they're repossessing the vehicle from, and the law enforcement agency will typically give notification of the repossession if the vehicle is reported stolen. However, most people with vehicles up for repossession are aware of it, and can put two and two together.
