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It depends, if you did not have a security agreement on the loan, and if you didn�t file for a new title with your loan on it, you can�t enforce a repo (this is for Colorado, but it is similar for other states). It seems to be that you need to go to court, and prove to the court that you have a right to the car, depending on what is in that letter, and then the court can issue a repleven, which is a court order that can be enforced by law enforcement to get the car back. good luck.
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Can your loan company repossess your car if you are in arrears but are making payments?
Yes.
When can a bank repossess someone's car?
When the owner defaults on the loan payments
Can the bank repossess a vehicle even if the payments are current?
Not IF you reaffirmed the loan with the creditor.
Can the lien holder repo my truck when payments and insurance are current?
They will not repossess a vehicle unless you have defaulted on the loan. Defaulting on the loan is being late with the payments. Call the lender and talk to them.
How many payments can be missed on your auto before it can be repossess in OKLAHOMA?
That's dependent on the conditions of your loan. Realistically, they can legally repossess it after one payment is missed, if those terms are stated on the conditions of the loan.
What can a creditor do if you stop payments on a secured loan that was not reaffirmed?
Repossess or foreclose on the secured property if the agreement is in default.
If you are in repossession status and are making efforts to pay on your late payments can they still repossess your vehicle?
Once the loan is in default the bank has the right to refuse payment and repossess the vehicle.
If loan is not reaffirmed on a mortgage is the property still mine payments are made on time?
as long as you keep making payments the lender will probably not repossess the property. however, if you miss one payment the lender can repossess the property at any time.
When do banks repossess boats?
Banks will repossess boats when an individual fails to make payments on their loan. Notices will typically be sent out and those continue to be unanswered and unpaid then repossession will occur.
How many days must a vehicle loan be late before it is repossessed?
They usually repossess when you miss two or three payments. They seldom repossess if you've just missed one.
Can a loan company reposses my car they do not have the transfer of lien on?
If that loan company loaned you money and you used the car as collateral and failed to make payments on time, they can, and will repossess the car.
If you are gifted a car in a will that is not paid for how long does the estate legally have to give you to pay off lien?
If you inherit a car that is subject to an outstanding car loan you need to keep up the payments with the LENDER according to the terms of the original loan. If you default on the loan payments the loan company can repossess the car.
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