IC 35-43-4-5 Defenses Sec. 5. (a) An owner in possession of encumbered property does not commit a crime under this chapter, as against a person having only a security interest in the property, by removing or otherwise dealing with the property contrary to the terms of the security agreement, even if title is in the credit institution under a mortgage, conditional sales contract, or bailment lease.
IC 24-4.5-5-103 (5) The buyer may be liable in damages to the seller if the buyer has wrongfully damaged the collateral or if, after default and demand, the buyer has wrongfully failed to make the collateral available to the seller.
YES, that is one of the very few laws in CA. that makes sense. Call DCA's Consumer Information Center toll-free at 1-800-952-5210. In the Sacramento area call (916) 445-1254.
If the repossessor is allowed in, yes. They cannot force their way into the community.
YES,its legal in every state.
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
When you don't pay for it.
No you cannot.They can after a lengthy court process force you to turn over the vehicle but it never happens....if it did you see the countless repo posters citing the case here.
need approval from hair vehicle
A creditor can repossess a vehicle at any time after a default(late payment, lack of insurance, etc.) occurs on the contract.
YES!!! Lienholders must protect their investment so therefore you must comply to their rules and regulations
Once the loan is in default the bank has the right to refuse payment and repossess the vehicle.
No, you dont even need keys to repossess a car in South Carolina
You have to posses the title on the vehicle and the documentation that there is a default in payments.
No. Absolutely not. If they enter a vehicle they do not have an order of repossession on, they've committed a crime. They may enter the vehicle they are there to repossess, and only the vehicle they are there to repossess.
They are not going to repossess a vehicle because you were rude. They can however repossess it if you miss just one payment.
No, not if the contract is in default. The lender/lienholder may repossess the vehicle under UCC laws as long as it can be accomplished without a breach of peace committed
In the event that the possessor of the vehicle is not a contracted party, or if the contracted party is actively seeking to hinder repossession, then yes, the lender can report the vehicle stolen.
yes, you are in a legally binging contract if you are both over 18 years of age and are therefore able to repossess the car.
That is the only way you can repossess a vehicle. Repossession comes under the UCC which grants a lienholder the right to repossess but only if they have perfected their lien by filing it on the title. One caveate is in most states the lienholder can not repossess a vehicle that is under a mechanic's lien without first paying that lien.
yes. its stealling.
Yes. Any amounts owing.
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.
if you owe them money they generally will not release your vehicle to you in the first place
Not IF you reaffirmed the loan with the creditor.