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Not ANY, but it can vary. Most contracts just say "fees", amount not specified. Of course, 10K wouldn't stand up in any court.

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โˆ™ 2011-09-12 16:04:00
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Q: Can the lender charge any amount he wants to for the repossession fee to get your car back?
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Related Questions

Can your car be repossessed after filing bankruptcy if you are up to date on payments?

On the surface, no. As long as you have not defaulted on the loan contract, there is no reason for repossession. The lender wants your money, not your car.

Can you convince the lender to give the car back and get back on the payment plan after repossession?

I cant, you might can IF you pay current. The lender wants their money, on time, blah blah blah. SOS different day, LOL Yes, they have to give your car back if you pay the reinstatement ammount, in other words all the payments and fees you owe to make the loan current... the only exception will be if they have a reason to believe that you hide your vehicle to avoid that case they have the right to refuse the monthly payments, and they will ask for the full payoff amount to give your car back, if they have not sold it yet...

If your car is repossessed in Illinois and the lender wants full payment can you file for bankruptcy within a certain amount of days so that your able to keep your car?

Bankruptcy does not prevent a vehicle from being repossessed. If the debtor/borrower wants to keep the vehicle they must reaffirm the loan with the lender. Furthermore, new bankruptcy laws require the borrower to repay the entire amount of the loan and applicable fees rather than the discrepancy between the loan and the amount recovered in the sale of the vehicle.

Car repo in 1999 agreed to pay 70 percent of the amount owed creditor wants to list on credit as paid repo what should you insist they list it as?

Paid repossession would be the best option. This, even though it is a negative mark, is less so due to the satisfaction of the debt. Count yourself fortunate, as the lender could list it as paid-settlement, which would be less positive.

Are the payments due after repossession the actual car notes or can you negotiate a payment in the state of Maryland?

You can make an offer in any state. Its up to the lender to accept or reject it. Has the lender tried to work with you on payments already and it didnt work out?At this state of the game, the lender wants more than promises. They want MONEY NOW. The more the better. They can get 25% of your disposable income by garnishment so why would they settle for less in an offer? Its time to get serious about paying this debt. Good Luck

If a debt is not reaffirmed by a creditor is the debt discharged in a bankruptcy?

The creditor is the lender. The bankrupt is the debtor. The lender never has to re-affirm he wants to get paid back.

Can someone report your car to be repossessed if they know that you do not have insurance?

IF they hate you enough, IF they can find out who your lender is, IF the lender wants to repo because of that fact, The ins. co. is supposed to notify the lender anyway if you let the policy lapse....

When a car is repo'd can the lender tell you the only way to get it back is by refinancing?

NO they can tell you to pay the back payments and fees (for the impound) YES. At this point it is pretty much whatever the lender wants and they usually want ALL of their money NOW. Are they suggesting that you refinance with them or go elsewhere for a new loan? If you didn't make the payments on the old loan, it is unlikely that they want to give you another and you will have a hard time finding another lender who will give you a loan when you write "pay off repossession" as the proposed use of the funds.

Do the same rules apply to the voluntary repo of a mobile home?

Basically. YES. You decide you cant pay, you tell the lender you are moving, you move out, lender sells home(not as quik as a car), lender wants balance due on the loan.

Your car was seized on a judgment now your lender wants to repossess it from the sheriff and give it back to me can that happen?


Can someone cosign for only a certain amount on a loan such as if the person only wants to cosign for 12k but the loan is 17k?

No. You co-sign for the note as indicated on the documents you sign. There is no half way. Beware ... When a lender asks for a co-signer, the lender knows that the co-signer will have to make at least some of the payments. This answer comes from experience.

Is it illegal to drive your car if your lender wants to repossess it?

It is not YOUR car if you have not fully paid for the car or, have not been making payments. You need to either catch up on the payments or return the vehicle soon. Driving it is not so much illegal as it is borrowing trouble. A repossession will save you from paying the total price of the car should it be ruined in an accident.

Can a repossession company remove your car from your garage because the boyfriend wants it back?

It depends if the car is in your name or his. If it is in his name, then yes.

If a 'friend' drives your car to a repo man without your permission to collect the finders fee how do you get your car back?

To get it back, you pay the amount you are behind or the payoff on the loan, whichever the LENDER wants. AND storage fees.

Can you have multipule co signers?

yes, especially if the first co-signer's credit is not as good as what the lender wants it to be.

If a person wants to resume your car loan how would you procceed?

Contact the lender that is holding the lien, and they will tell you how to proceed.

What is the name of the moneylender who wants a pound of flesh from antonio if his debt cant be paid?

Shylock is the name of the money lender

What does it means when a guy tells you he is dominative?

It means he wants to be in charge.

What are the borrower's rights when a lender is requesting additional new documentation on the fourth day after the closing and has not funded the loan?

Not many..A loan is not closed until it has funded..Apparently in your case, you are not dealing with an aboveboard lender or mortgage broker..Unless you do what the lender wants, you will not get the loan..Remember..He/She who has the $$$ makes the rules..After a home loan has closed, a lender can ask you to help correct documentation, but can not change the terms of the transaction.

Will having a cosigner lower your APR or enable you to borrow more?

The lender should be looking only at your ability to repay the loan when they determine the amount they will lend, since they assume you will be making the payments. They also want to be sure the cosigner can make the payments if you don't, but they would not combine the two financial statements to determine the amount that the two of you together could afford. They may offer a slightly better interest rate, but if the lender wants you to get a cosigner, it usually means you will not get a loan without one.

Can finance company take personal possessions if you owe on a car repo?

I believe what you may be referring to is a conversion of collateral. Say for instance your 2011 Tesla Roadster is repossessed and sold at auction, but you still owe in excess of $100,000. The lender wants that money. So, they take you to court and obtain a judgment, but you still refuse to pay. The lender will hire a person with my skill set to find your assets. Say in my search I discover that you own a 2002 Donzi 38 Daytona with a clear title. This boat is worth $78,000.00 and represents a sizable asset. I will notify the lender as soon as I locate the boat, and continue my search. In the meantime the lender will take this information back to the courts, and show that you refused to pay the debt you owe and that you own clear title to a sizable asset. Likely as not the judge will issue a Conversion of Collateral and permit the lender to issue a notice of repossession for the boat. When they have done this, they will call me, and I will contact my field agents to notify them where the boat is located. Later that evening, when they see your lights go out and are certain you have gone to bed, they will back up into your driveway, verify the VIN on the boat and trailer, hook up to them and drive away. You will still owe the lender a substantial amount, however that amount will be significantly less than you did before your big, beautiful boat left your driveway for the last time.

What difficulties did settlers Plymouth and Jamestown have in common?

The settler wants a charge

What number of an element can be used to determine the number of electron in an atom?

The atomic number, this stands for the number of protons which are positively charged. Since an atom wants to be neutral it will have an equal amount of electrons unless it has a charge.

What is unlimited wants?

Unlimited wants is when people want an endless amount of things but have limited resources to obtain them. Unlimited wants is an economic problem.

How can a car dealer call you back a week later and ask for more money per month if you signed a contract saying how much you would pay?

Please read the papers you signed. They loikely state that the payments set forth are CONDITIONAL upon the dealer finding a lender that will take the contract as written. YOUR credit Report will have a lot to do with that happening. Maybe no lender wants to finance you at that amount based on your CR.