Repossession
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How can it be a repo if they only had the car 3 days?

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2015-07-15 21:39:03
2015-07-15 21:39:03

What is a repo? Repossession occurs when a contract is in default and the lender takes possession of the secured collateral.IF your situation doesnt fit that description, call an attorney NOW.

Roosta, yes I meant "repo" to mean repossession. The lender had my car for 3 days. I paid what I owed to get my car back and paid for 1 1/2 years. I still own the car. It has been paid in full for 2 years. But when I made the last payment in Dec of 2001, they list it as a repossession. But the so called repossession happened in Feb or 2000. Like I said they had my car for 3 days. I didn't realize they had it listed as a repossession until recently when I tried to get some credit for a new car. I have filed a dispute with each credit reporting agency, but I have to wonder if they will take if off.

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You pay the LENDER what you are behind and the repo fee and go get it.

Read the contract you signed. Does it include a GRACE period? If so, were you past that also? Does your state require Lenders to send a "right to Cure" letter before they repo? In states that do NOT require the "right to cure" notice, 6 days means they couldn't find the car for 3 days.

payment late?? then its NOT on time and in DEFAULT. WHAT is not stated in the contract??? No lender is going to repo a car when only one payment is 3 days late. If you have made all the payments on time and you are only 3 days late, and they repossed your car, you need to contact the lender and see what is going on. Something is not right here.

i think its about 3 0r 4 months then they will call and ask you where can they pick up the car

The White Shadow - 1978 Car Repo 3-11 was released on: USA: 16 February 1981

YES, anytime you are in DEFAULT, the lender can repo. Tote-a -note lots are famous for 3 days late repos.

YES. Read your contract. Does it say the lender cant repo IF you have no other vehicle? I think not. Less than a month behind??? Some lenders will repo when you get 3 days late. Any time you are in DEFAULT of the loan, the lender CAN repo. They may not, but they can.

Yes and you will face up to 3 to 5 years for hiding it

Depending on the lender, but usually they wont Repo a car unless you are 3 months delinquent.

WE ACTUALLY HAVE A REPO T.V. SHOW. IF YOUR GATE IS LOCKED THEY CAN'T ENTER. IF YOU GET IN THE CAR THE CAN'T TAKE THE CAR, THAT'S KIDNAPPING (BEING MOVED 3 FEET BEYOND YOU WILL). THEY CAN CALL THE POLICE. YES THE POLICE WILL BE ON THE SCENE WHILE THE REPO MAN DO HIS JOB.

Nothing I believe they only repossess your car if your a month or more off on your payments

only smokes when i put in oil, after about 3-4 days goes away.

Depends on the lending institution but the S.O.P. (Standard Operating Procedure) for most is 3 months.

If you did not comply with the terms of the contract, they can repo the car. If you DID comply with the terms of the contract they are in violation of the law if they try to repo the car. It all depends on the terms that you originally signed. If it was a DUI wreck or anything else that willfully contributed to the wreck, you may have violated a condition of the contract. You may need to dig out the old contract and have a lawyer look at it for you.

If it's a used vehicle, you have 3 business days to return a vehicle under federal law - Saturday counts as a business day. If it's used and beyond 3 days, or a new vehicle, you're SOL. You can attempt to get a better job, sell it at a loss, or try to return it - keep in mind that a voluntary repo is the same as an involuntary repo, and your credit report will be dinged accordingly.

In most states, a person has 3 days to change their minds about buying a car. You can take the car back to the lot and ask to redo the paperwork in these 3 days. After the 3 days, you can't change anything.

Most people dont know you can ask to pay just the intrest on your car note you can do this three times at most any finance co. Just ask and as long as they dont find the car they cant pick it up but it will take them a little time to go to court and have you turn it over. Get your agreement in writing!!!!!They can tell you anything and still repo especially at 60 days out.

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Only if the selling dealer agrees to take it back. Otherwise it is yours and there is no legal way to return it.

Repo Men Stealing for a Living - 2001 Southern Fried Repo 3-1 was released on: USA: 22 August 2004

YES! A repo is a repo. If you turn the vehicle in to the lender and stop making payments this is called a voluntary repossession. The lender will sell the car and you will be responsible for the difference in what the car sells for and the balance on the loan. It will be reported to all 3 credit bureaus as a default on a loan, and your credit will be ruined for 7 years. You would however save to repo fees such as towing. Do not do this. Call the lender and work something out if possible.

There is no 3 day to cancel a new car purchase contract. The only time you have 3 days if the dealer came to your house or place of business and Solicit you. There is no 3 day to cancel a new car purchase contract. The only time you have 3 days if the dealer came to your house or place of business and Solicit you. ------------------------------------------------------------- Always read your contract before you deal with dealer, And I think is 10 days is very common for cancel your contract but it all are depend on your down payment & dealer's financial condition.


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