No. Namely, because the car wasn't stolen - it was taken back by the rightful owner (the financier), via a repossession agent. It's not the financier's fault - nor the repo agent's - that you neglected to make your payments.
I don't think so not without their approval.
Repossession is when something is returned to its original owner. An example would be when a car payment is not made, and the owner of the car's title repossesses (takes back) the car.
A car owner has to pay impound and storage fees after repssession because that was their car. The bills are left to the car owner, no one else is going to pay their bills.
If it was repossessed legally then he is guilty of theft
When a car is repossessed it usually means the owner is no longer able to make the payments. It is repossessed by the dealer or the bank in which to owner has the loan through.
Yes you can repossess if you are the soul owner. If the person whom your repossessing the car from gives you trouble, have the police meet you to witness the repossession.
One owner of property cannot "take the other owner off". The second owner of the property must transfer their interest voluntarily.
The major purpose of "Trademark" is to keep the rights of its owner and to prevent others from copying it without permission from the owner.
The owner of the property where the vehicle is located can remove it/ have it removed, in most cases without the necessity of notifying the owner of the vehicle.
Sure. The owner can't stop the repossession and is aware of the incident, which makes it easier for everyone. * Not if the person is in the vehicle or the repossession agent would be committing a breach of peace, such as appearing at a neighbor's or public place where the borrower was and requesting the keys or another vehicle be moved, etc.
Basically repossession is controlled under Federal Law, which says "If owner of the car misses continuous payments, the loaner has the right to repossess the Vehicle and wait for the payments to be caught up, or to resell it".
NO, it is NOT legal.
The primary and cosigner on a car note are equal owners. Neither has the "right of ownership" over the other. This is a common misconception. Both may not benefit from the transaction, but both will be negatively affected if the note is not paid.
After repossession, the lien holder or agent sends information on how to reclaim the vehicle; if the owner does not respond or cannot repay the outstanding debt, the agent removes all personal belongings and sells the vehicle at auction. You will then be liable for the difference in what it sells for and the balance on the loan plus repossession fees.
Yes you can. The main interest of the financial institution or or owner of the property is to have the property paid for.
In the state of New York, provided there is a legal order for repossession, once the vehicle is located, it may be secured and recovered. The repossession agency has 24 hours to notify the registered owner of the repossession, but they are only required to do so by mail, and may do so to the address of record on the registration. They do not have to notify anyone at the time of repossession other than local law enforcement of jurisdiction. They must inventory and secure any property contained in the vehicle, and may charge a storage fee for that property.
Usually the insurance policy of the owner of the car is primary and then if the driver of the car has a policy of their own then it is secondary.
There are some companies that will repossess kitchen cabinets if they are not paid for. If the cabinets are not paid for then the company can either repossess or take the owner to court.
This question is irrelevant to the meaning and/or purpose of life.
YES. If the person'sname was on the loan they are equally responsible.
If the finance company has sold it, you have you answer. How can you be so stupid?
They are virtually the same since you don't own that thing any more and they both badly affect your credit. The major difference is that with repossession your "thing/s" are taken away or repossessed by the original owner. With a house in foreclosure you have to leave/move away.
You should negotiate about tax with house owner
You will probably never know the truth. looks like you "assumed" the notes from the owner and NOT the lender. Chances are that the owner was behind on the notes and that's why it was repoed.