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Can they garnish your paycheck or tax return for the remaining balance on your repoed van?
Wiki User
∙ 18y ago
A creditor would have no authority regarding a tax refund. But they can file suit and if they win, receive a writ of judgment. They could then use the judgment as a wage garnishment according to the laws of the state where the debtor lives. Texas, South Carolina, North Carolina and Pennsylvania do not allow wage garnishment by creditors. All other states have established their own garnishment statutes, most follow the federal wage garnishment guidelines.
Wiki User
∙ 18y ago
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If you have a car repoed in South Carolina do you have to pay the remaining balance of the loan?
Yes. Additionally, you will be responsible for any late fees, repossession fees, storage fees, transportation fees, and legal fees and court cost incurred during the repossession process.
Once a car is repoed Do you have the right to file bankruptcy chapter 13?
Yes, If you are trying to get the vehicle back you can file a Chapter 13. but you have a very short window typically 10 Days to get filed to have much success of getting the vehicle back. Or you may need to file if your window has passed to protect yourself from future liability. The lender will sell the vehicle and if there is a deficient balance will pursuse you for collection of the remaining balance.
Can wages be garnished for the balance of car loan if the vehicle was turned in for repossession in Maryland?
Yes. Even though the vehicle was repoed, they could take you to court for the remaining balance, or what they didn't recover through resale of the vehicle. You would be notified that you are being sued, and have the opportunity to go to court in your defense. If the court finds in favor of the lender (which they generally do), you could have your wages garnished. That may be the point where you have to decide if bankruptcy may be right for you. Bankruptcy would stop those proceedings and keep your wages from being garnished.
How long do you have to pay off the remainder of the loan balance if you car is repoed?
The contract should include the applicable terms in case of a repossession. If there are no specifics as to the action, the laws of the state in which the vehicle loan was granted apply.
Car was charged off and repoed will you still have to pay the loan?
Yes.
What if the company that repoed your vehicle sells it for less than you owe?
They will look to you for the remaining balance
If you retrun a car the is being repoed will your wages still be garnished?
If the lender has obtained a judgment against you, and garnishment has begun, yes. The lender will continue to garnish your wages until the balance of the debt is paid. This could include the remaining balance after the vehicle was sold at auction and all costs, interest, and penalties incurred by the repossession.
How does the remaining balance in a vehicle repossession case get solved?
Once the vehicle is repoed, if it is not redeemed, the vehicle is sold at auction. This purchase price is applied to the debt. The problem is, the repossession procedure can add much more to the balance owed. So, there is likely to be a remaining balance, and it could be higher than was originally owed on the loan before the vehicle was repoed. In cases where a balance remains, the lender may decide to take legal action and sue the borrower.
When a car is repoed and i get a letter where it is at do they have to notify me if they take it somewhere else?
They really do not have to notify you at all. The only notification at the end is the remaining balance that you owe once the vehicle has been auctioned off.
If the car was repoed and you got it back does it matter if they repo it again?
Certainly it does. It could be repoed multiple times, and each time this occurs more and more fees and penalties are added to the original or remaining balance of the loan. If you cannot afford the payments, your best option is to surrender the vehicle and seek other means of transportation.
How will filing for bankruptcy help before your car is repoed and if you are not able to file in time how soon will they garnish your wages in Ohio?
"How will filing for bankruptcy help before your car is repoed? As soon as the B/K is filed, an AUTOMATIC STAY is in force. lenders must stop ALL collection efforts. If your not able to file for bankruptcy before being repoed how long will it take for them to garnish your wages in Ohio. ": That will depend on how quickly the lender files the paperwork, the court gets to it,ect. Guesstimate?? 1-6 months.
If you have a car repoed in South Carolina do you have to pay the remaining balance of the loan?
Yes. Additionally, you will be responsible for any late fees, repossession fees, storage fees, transportation fees, and legal fees and court cost incurred during the repossession process.
Can you be sued for a car that has been repoed?
If your car was repossessed, they will sue you for the difference in what the car sells for and the balance on the loan, plus repossession fees.
What do I do once my car has been repo in the state of ga?
Redeem it or buy another car. Of course if you already have another vehicle, an additional car will be redundant and unnecessary. It would also be advisable to pay off the remaining balance on the repoed car note as soon as possible to avoid legal action.
Can your wages be garnished for a repoed vehicle in portland OR?
they should not be able to garnish wages for a vehicle the leinholder has taken back into their possession for payments not being made. They have the vehicle back, so its not right for them to take your money.
Once a car is repoed Do you have the right to file bankruptcy chapter 13?
Yes, If you are trying to get the vehicle back you can file a Chapter 13. but you have a very short window typically 10 Days to get filed to have much success of getting the vehicle back. Or you may need to file if your window has passed to protect yourself from future liability. The lender will sell the vehicle and if there is a deficient balance will pursuse you for collection of the remaining balance.
What happens to your credit if you pay all your bills on time except your car payment and your car gets repossessed?
You get a BIG black mark on your CR and future loans will be at a higher than normal interest rate and/or a higher DP. PLUS, you will still have to pay the remaining balance on the repoed car. Do your best to SELL the car before repotime.
