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To my knowledge, the lender can ONLY repo when the loan is in DEFAULT. Does your acct. being minus put you in default????

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โˆ™ 2015-07-15 18:44:17
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Q: Can they repossess your car if your bank account is in the minus?
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Related questions

When a bank repossess someones car?

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.


When can a bank repossess someones car?

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.


When can a bank repossess someone car?

when he has a credit


If you have two car loans at one bank can the bank repossess both even?

Yes they can repossess everything that you got a loan for.


Can a bank repossess my car if I am making some sort of payment?

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.


Can a bank repossess a car who's registration is past due?

no


Can the bank repossess a car after 8 months of asking them to get it and no action from bank?

YES, as long as the car is collateral for a loan, they can repo it.


When can a bank repossess someone's car?

When the owner defaults on the loan payments


Can a creditor repossess a car if the account is current?

not without legal cause


How much has to be owed for a bank to repossess a car?

it is up to the bank to decide. Legally, as little as 1 cent.


Does the bank have to notify you before they repossess your car?

I have NO IDEA, WHY look here if there is NO ANSERS


If a person dies can you give car back to bank?

If the bank holds the loan, then yes. If the payments are stopped, the bank will repossess anyways.


Can a bank take a car that some else as a lien on?

Yes, the bank has the right to repossess the vehicle if you are in arrears on payments.


Can a bank report a car stolen if in default of payment?

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 can a bank reposess a car?

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.


When can hsbc repossess a car?

i know that one of the requirements is that the account has to be passed due for 60 days.


Can a bank repossess a car if taken to dealer for repair?

A dealer will never repossess, UNLESS they are also the financier. most dealerships sell the loan to a bank, whom you make payment to... this bank will be the "reposseser". Now, that's not to say that the bank will not notify local dealers to be on the lookout for a car they are actively chasing to repossess, but most of the time they will just come to your residence to serve the repo. I have never heard of a dealership doing so, because most banks have folks that can get your car by other means if they want it back bad enough.


I failed to pay the pick up payment can the dealer repo my car even if its financed through a bank?

Your car can definitely be repossessed because of nonpayment. The bank can actually send a company to repossess your car.


Your father died and had just bought a new vehicle what happens with this vehicle will the bank take it out of his estate?

The bank can repossess the car if payments are not made.


Can bank repossess car after DUI?

if they believe that your unable to pay or can cause a damage to the car that will caused the vehicle to lose its value (wrecking it) even though if your up to date on payment they can have the car reposses under the conditions of DUI, going into default, strange account activity.


Do you have to have a bank account to buy a car?

No.


If you let the bank repossess your car will it show on your credit as a repossession or just that you owe them an amount due?

BOTH


What is Texas law on repossession procedures?

Can the police repossess your car? Can the police repossess your car?


Can a bank repossess a paid for car for other credit debt i own the car but i owe a lot of other debt?

The bank doesn't own the car. Unless you used it as an asset, or collateral for a loan from them, they should have no hold on that.


Can a dealership repo a car for not paying all downpayment?

A "car dealership" CAN NOT legally repossess a car for any reason unless the are operating as a financial institution (bank/ Lien holder). And they had better be license as a bank if they are. (New York).