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Can you still owe money on a van that was repossessed two years ago and the company just sold it?
Wiki User
∙ 12y ago
What state are you in? What does your contract say? Has the lender got a judgment for the balance due?
AnswerWhy did lender wait so long to sell it?? It needs to be sold in a commercially reasonable manner it doesn't look as if your van was.Send a letter demanding a break down of the costs for the van , balance of the loan and how they arrived at their numbers and demand to know why they waited so long to auction yourvehicle.It looks like they cost you several thousand dollars by waiting.Wiki User
∙ 12y ago
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Can your car be reposessed after six years?
If you still owe money, it may be repossessed at any time.
I live in new york and i have been playing the hide and seek game for 4 years and the company i owe has wrote the money off my credit will be clear in 8 months can and will they still repo the car?
As long as you have the car, it can be repossessed.
F a car was repossessed two years ago and you put an old car that a friend had on the road can they come after that vehicle for the money still owed after auction?
No. They can repossess their collateral (the car which was repossessed), and they can send a collection agency to hound you for money, but they can't confiscate your property.
In Virginia can a credit company repossess your car and still demand the money owed above the value of the car?
When your car is repossessed, they sell it for what they can get. Value has nothing to do with what price it brings. They simply get what they can. You are then responsible for the difference in the amount they sell the car for and the balance on the note. Your credit is then ruined for 7 years. This is why having a car repossessed is a horrible idea, and should be a last resort.
Your car was repossessed after being six months behind and then you get a call from the car dealer after two years trying to repossess the car are you still liable?
If the dealer calls you after the car has been repossessed, then you should inform them that you no longer have the car. They can contact the finance company to verify the information.
How long does the credit company have to make a claim for repayment on a repossessed vehicle?
Possibly up to 7 years.
Can a company still report a repossessed car after 7 years on your credit report?
Yes ... these matters can remain on one's credit reports for up to 15 years. This is why it is so crucially important to pay every bill that is due on time, everytime.
Why would you still get calls from collection if it has been over 13 years since you had your car repossessed?
Demand verification of the debt.
If you had a vehicle repossessed and the vehicle was sold at auction how long would the financial institution have to legally receive payments for balance owed.?
From expierence, we had a vehicle repossesed over 10 years ago. I don't know if it's legal or not, but the company has been getting money from us ever since. I don't even know how much we still owe, they do not send a statement or anything.
How long will a finance company still try to repo a car. I moved 3 years ago and they coulcn't find it. Will they still try to repo it 3 years later or would it be a judgment against me for money?
The lien is still valid, so yes, they can repo it.
After 8 years after your car was repo you are being sued i did not receive a letter after repo?
Did you borrow the money and sign a contract to repay the loan? Did you have your car repossessed because you failed to make your payments? They repossessed your car and sold it, and you owe the difference in what the car sold for and the balance on the loan. What difference does a letter or 8 years make. Be an honorable honest person. Pay them their money. Legally you may get out of paying but morally you owe them the money you borrowed.
What do you do if you filed bankruptcy 2 years ago on a 1996 Ford pick up and the bank still hasn't repossessed the vehicle?
Ask your B/K attorney for state specific advice. I usually reccommend you call a local towing company to tow it away.
