0
Does the company repossessing a vehicle have to notify the co-signer?
Wiki User
∙ 8y ago
Read the contract you co-signed. It should relate the info you want. USUALLY, lenders dont notify the co-signor until the car is sold at auction and its time to PAY UP.
Wiki User
∙ 8y ago
Add your answer:
Earn +20 pts
Does the repossession company have to notify the police that they are repossessing a car before they take it in Missouri?
Yes
What are the repossession laws in NC?
A few basic guidelines:Repossession must be peacefulRepossessors may not enter any vehicle other than the one they're repossessing, even to move it out of the way in order to facilitate the repossession.Repossessors may not open locked gates or enter structures without permission.Repossessors must notify local authorities when they are repossessing a vehicle.
Do Alabama repo companies have to notify you before repossessing your vehicle?
The state of Alabama is a self help repossession state, therefore a repossession agency is not required to notify you before they repossess your vehicle. Repossessors are under various state and federal laws and regulations and are prevented from breaching the peace among other things.
How many day do you have to notify your insurance company after buying a used vehicle?
2 days
If you are a cosigner on a loan will a loan company repossess the vehicle then let you pay it off and take possession without ruining your credit?
Contact the lender and let them knoiw that if ANY case the debtor defaults to notify you so you can payoff the loan. Add that you will payoff after repo with NO repo reported on YOUR credit.
In New York State can an automobile be repossessed if it is in a carport and the repossessing agent does not notify you of his presence?
Yes. New York follows UCC laws when it pertains to the repossession of a vehicle. The borrower does not need to be notified of the action and the vehicle can be taken if it is not in an enclosed garage or locked property and there is not a breach of peace.
Does the lender have to notify the cosigner if the person responsible does not make a payment?
In some states yes.
How many days does a towing company have to notify owner of recovery of stolen vehicle?
generally they have ten days
Is it the responsibility of an insurance company to notify the lien holder on a vehicle if any change in coverage?
Yes, they are required by law to notify your lien holder of any change in coverage.
Does the lender have to notify you as a cosigner if the primary borrower fails to make a payment?
No, but if the borrower misses enough payments, the cosigner will start getting collection calls as well.
Can a repo company repo a car without giving wrighten notice of the repo?
Laws vary by state, but, generally, yes. They'll notify the law enforcement agency with jurisdiction in the area where they're repossessing the vehicle from, and the law enforcement agency will typically give notification of the repossession if the vehicle is reported stolen. However, most people with vehicles up for repossession are aware of it, and can put two and two together.
Which states' lenders are supposed to notify the cosigner before reporting a late payment to credit bureaus?
None
