Yes. Normally if you are 3 months behind the finance company can take back the collateral. This is a default. Remember, you signed a contract with the bank stating that you would make your payments. It's not their fault you can't pay. However, any decent bank should be able to work with you in the event you lost your job. The key here is to communicate with them and don't dodge their phone calls. If you are honest with them, you can normally buy yourself a couple of months.
Well first off, it's not like he could get a refund. If he is simply going to let it get repossessed, he can have someone else drop it off & he can send the lienholder a letter stating he is voluntarily letting them repossess the vehicle, along with location of where it was left. Voluntary repossessions avoid additional charges, towing, repossession fees,etc.
It depends upon the specific terms and conditions of the contract. If the contract simply states it is the buyer's obligation to secure financing, then you can NOTcancel the contract. If the contract states that the agreement is conditional upon the buyer's ability to secure a loan, then you CAN cancel the contract.
Scenarios: 1. If you sold the car for cash, and the buyer paid you in full, you have nothing to repossess. 2. If you signed the title (aka pink slip) and the buyer had their name listed as Registered Owner, you no longer own the car - nothing to repossess. 3. If you sold the car and did NOT sign the title, and allowed the buyer to make monthly payments to you, AND the buyer has defaulted on making payments for some specified time, you MIGHT have some rights in regards to respossessing the vehicle. 4. If no written agreement was made (and properly signed) at the time of sale specifically stating the monthly payment arrangements - in other words a handshake deal - you MAY not have any recourse. Before proceeding, please consult legal help on this matter - Don't take what you may think is the law into your own hands.
This depends greatly on the local laws and if you have a contract with them. If you are boarding your horse with someone and they have a contract that you signed stating that if you got behind on payments or didn't show up within a certain amount of days to care for your horse, they could take the horse and do as they please with it, then yes they can sell it. However if you did not sign a contract then likely they cannot seize your horse unless they can prove you were neglecting it by not caring for it in some way. If you did not have a contract with someone threatening to sell your horse you need to call the local police and have them help you remove the horse from the property.
If you are 13 years old when were you born?
Is it true that one human year is equal to seven dog years?
What is half of 74?
What does minus 3 degrees mean is it 3 degrees below zero or 3 degrees below 32 degrees Fahrenheit?
Why can't we remember our dreams?
How do you protect the masonic emblem?
How much is 10000 quarters worth?
What gangs are in Ohio?
Can eggs break inside a chicken?
Why do books come out in hardback first?
What happens when a beehive gets too full?
What is the difference between an optometrist and an ophthalmologist?
How can you tell when someone's lying?
Why do some people celebrate Christmas in July?
Why is it bad luck to walk under a ladder?
What is a conservatorship?
How did Robert perault die?
Was Lucy meacock married to rob Mcloughlin?
What do you mean halim seeds in gujarati?
Who was giani maan singh jhaur?
Which of the following best describes what is required to be reported to congress?
What is a classified data spill or negligent discharge of classified information?
What is Ford Motor Credit payoff address OVERNIGHT?
Why the eastern Terai is cooler than than western one OF NEPAL?
Copyright © 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.