Can your car be repossessed for 'non-payment' if your first payment has not yet come due?
Suzette, what are the details on your purchase? Such as what state? One reason for repo before ist payment due is a person didnt qualify for the financing deal offered. Maybe a small detail got left out. Or a large detail. Its obvious that dealers WANT to move cars. So they will do a LOT to make the deal go thru. For them to repo asap, theres about 2 reasons. the obvious, you didnt qualify OR they screwed up. If it's #1. oh well you tried. If #2. OH BOY, call your or any attorney. JACKPOT.
If your car was repossessed 7 years ago can creditors come after you for payment now in the State of Georgia?
Yes. Well, maybe. Your are legally responsible for payment of the remaining balance of the loan for seven years from the last date of payment. In the event a judgment was obtained, you are responsible for ten years after the date of last payment. Quite likely, there is a judgment, as this would be the only security the lender has of receiving payment.
they can call you as many times as they need to. depending on your state. most laws require 3 months of non payment before they can send a tow truck to come get your car for repossesion
Can a vehicle be repossessed for not paying tax tag and title The down payment was made I was given 30 days to pay the ttt and could not come up with the amount?
YOU NEED TO CHECK YOUR STATE LAWS, BUT IF ITS WRITEN INTO THE CONTRACT OR RELEASED TO YOU ON A BAILMENT AGREEMENT THE ANSWER IS YES.
A first payment default , is when a bank calls the loan on your car because you are late on the first payment, 30 days or not, actually acording to your service agreement you are late like 4 days after the due day. they take it as a personal insult when you miss the first payment, also as a sign of things to come. usually if the repossess your car for a first payment default… Read More
You can hide it but, they'll come back later for it.
A recurring payment is a payment made over and over, such as a house payment, car payment or electric bill, etc. that come due monthly or bimonthly etc.
When you put down a down payment the price is already set. You must get them to come down before you agree to purchase which is what your down payment represents.
Does the bank have your current address and/or phone number? They will be calling on you.
Yes. If you are recieveing phone calls or lettters in the mail wait until you have saved at least 30% of the balance that is owed, and settle with this company. Make sure you get everything in writing before making this final payment. Wanda Improve Credit, LLC
As soon as the lender sells the car, they will know what the balance due is. Then they will come after the money. You will know when that happens.
I'm struggling to find a way for this to happen. If they took the car the first time, how did it come back for a 2nd repo? I have to imagine that you somehow bought the car once more and somehow landed financing for it again. Then, the 2nd company repossessed it. If this is the fact pattern, yes, it will show up twice.
0.36 percent of cars purchased by owners acquiring loans are repossessed in a quarter in the New York. Repossession occurs as a result of failure of stressed borrowers to come to an agreement with their debtors.
Approximately how long does it take after your car is repossessed for them to come after you for the deficiency?
As soon as they sell the car so they will know what the balance due is.
They will call you to pay the bill and after you ignore it for so long and do not turn your car in willingly they will come get it.
Yes a vehicle can be repossessed if the loan is not being paid on.
Can the bank come back to you for the difference of the loan after the car has been repossessed and auctioned?
yes they can...but it also depends on state laws too
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.
Unless it's explicitly stated in the fine print that they can't do any such thing, they have a right to repossess the moment the payment is rendered late, if they so wish. However, if you have documentation from the bank showing them explicitly giving you a deadline date, and they come to repossess before then, you may have grounds for a lawsuit. However, you would need to find out if it was the bank which… Read More
then you haven't bought it
Yes. If you have payments due to them which you haven't made then they have the right to come to your residence and request for payment.
Can a loan company come to your home to collect payment? Personal Loan...
It depends on where you are. In most states, no there is no requirement for that, but they do have to let you come retrieve your personal belongings later.
no..........only thing you own can be repossessed. anything that's joint owned rented or just dose not belong to you cant be taken.....you don't even have to let the in the door but once there enter for the first time they can come and go whenever they like and if your out and leave a door or window open they can enter that way and take what they like but you can tell them that the… Read More
There are all kinds of ways to come up with money for a down payment including savings, borrowing from a family member, taking out a payday loan, using a peer to peer lender, selling stuff you own, or getting a second job. the method you chose deoends on how much money you need to come up with for your down payment.
automatic stay means the unsecured creditors can not come after you for payment and your home is protected. releif from stay means your creditors can ask for payment and your hme is not protected.
File suit in small claims court. Eventually the case may come to the courtroom - no juries, just you (Plaintiff), the defendent and the judge or magistrate. The decision of the court is final as no appeals are permitted.
Yes!! Banks pay a lot of money for collectors and repossessors to try to contact you. Collectors first try to get you to make the loan current, then they try to get you to at least contact the bank to make payment arrangements so you can keep your car. But when you avoid this person, and all of the bank phone calls, they can come into your place of work, to ask for the car… Read More
What is your liability of a car that has been repossessed from you but the tow company is driving it around town?
unless your going to come up with the money to get it back,who cares,its not your problem any more (:
her pimp will beat you up or have a hitman come get the payment you owe her
REPOSSESSION LAWS IN MOST STATES ARE DESIGNED TO PROTECT THE LENDER (i.e. BANK),WHO IS THE LEGAL OWNER AND TITLE HOLDER OF A VEHICLE UNTIL THE LOAN FOR SUCH VEHICLE HAS BEEN PAID OFF. A VEHICLE CAN BE REPOSSESSED AS EARLY AS 30 DAYS PAST PAYMENT DUE. MOST BANKS DON'T BEGIN REPOSSESSION PROCEEDINGS TIL 90 DAYS. IF YOU'RE IN THIS SITUATION, IT IS BEST TO CONTACT THE BANK AND ARRANGE ANY TYPE OF PAYMENT ASAP. MOST… Read More
If a motorcycle was to be repossessed but was hidden for years would it come up as stolen or as having a lienholder if the DMV were to run the VIN?
IF it was REPORTED stolen, it would show as such. IF there was a lien on it, it would show as such.
Fl law says plates remain with the debtor so, inventory them with PP and wait on the debtor to come get them.
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I'll come back to Illinois when I get the payment from your mom for my.... services....
If you do it via Online payment it might, otherwise it shouldn't.
Working out payment arrangements with the artists/record labels.
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A "down payment" is an initial sum of money or something else of value that is paid to secure the purchase, barter, or trade for another thing of value. In effect, it is intended to ensure that the payer will pay the balance of the agreed price, or will otherwise come through on his/her/its end of the bargain. Often, if there is not payment of delivery of the remaining amount, the down payment is forfeited.
Usually, yes. The bank will dispose of the car (often by auction) and then come to you for whatever they lost and all fees associated with the repossession and sale.
first come first serve process burst time
What do I do with a car that was voluntarily repossessed and the finance company won't come and get it?
While most creditors will allow you to have your vehicle voluntarily repossessed, some lenders will not accept them. Your best resolution in this case is to contact the finance company and determine why they will not collect the vehicle. Ensure that they are indeed accepting the voluntary repossession. You will still be required to pay the remaining balance unless you are told otherwise.
Is there a class you can take to help with either the down payment or the monthly payments of your first home?
There may be a class associated with a local program to help first time home buyers with the down payment. However, in light of all the foreclosures, make sure that you have a good 10% to 20% to put down, clean up your credit history and do not commit more than half of your income to a mortgage. Otherwise, you will be trying to make ends meet for years to come.
YES they can. A partial payment is not the full amount owed, so they can repo the car. If they say they won't if you do this--get it in writing, or re-finance the car.
They can always ASK for payment, but whether they can actually collect depends on many factors. If you have no job and no assets, it would be very hard for them to collect anything.
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no. baby rabbits don't come out feet first they come out head first but it is very rare that they come out feet first.
Essentially, they are lowering the price, not providing for your down payment. Also, the lender is going to want that money to come from your account... This is ONE way there are others where lenders will gift you the down payment which comes back to them at time of closing or just find a 100% lender.
What amount will show up on your credit report when a vehicle is repossessed the original cost of car or the balancing remaining?
the BALANCE DUE at time of repo PLUS repo fees and fees to come later.