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If you did not give him the title, all you need to do is go get the car (hope you kept the spare key). If you did sign the title over to him with no documented agreement concerning the payments, you have probably given your (ex)friend an expensive present.

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โˆ™ 2015-07-15 18:35:32
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Q: How can you repossess a car in Missouri you sold to a friend with only an oral contract that he would make monthly payments?
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Can they legally repossess your car if all your monthly payments are up to date but you have made a few payments a day or a week late?

Read your CONTRACT. You have to be in DEFAULT of the contract for the lender to repo. If you are current on payments, what else can you be in default of?? INSURANCE coverage?


How late can your payment be before repo in North Carolina?

In North Carolina, a lender can repossess a car when just 1 payment is missing. They can also repossess it if you let the insurance lapse and are current on your monthly payments.


You sold a car in a private party sale in which the buyer agreed via written contract to make monthly payments and they now owe 380 and are 4 months behind-how do you repossess in Texas?

You locate the car and remove it from the possession of the default debtor.


If your current on your monthly car payments but owe a past miscellanous fee not a late fee can they repossess the vehicle if you refuse to pay that fee?

After a couple of months they can and will


Can a car dealership repo your car if you already have a lender for the vehicle?

The DEALERSHIP won't repossess the car, but the lender might if you don't make the monthly payments as scheduled.


What happens when there are 3 mortgages on my land?

In that case you have three monthly mortgages payments.In that case you have three monthly mortgages payments.In that case you have three monthly mortgages payments.In that case you have three monthly mortgages payments.


If you are in default and the company has agreed to a monthly payment but won't submit it in writing can they still repossess the car?

If you do not make the payments agreed to in the contract, on time, the answer is yes. if they agree to accepting a payment get it in writing ,then you have them.otherwise your screwed they will lie and tell you anything to get the car If it ain't in writing it ain't no agreement.


How much down and what are your monthly payments ?

How much down and what are your monthly payments


Can a lender repossess a vehicle if you send less than the asked for monthly payment?

AS long as you are in DEFAULT on the contract, the lender can repo the collateral. Usually that also means have full coverage ins also. Read your contract again.


Why is a credit check required for contract phones?

Signing up for a contract phone is a binding agreement between two parties. The customer is expected to make monthly payments, per the contract. Poor credit scores indicate the customer may pose a risk to not pay these monthly bills.


Do creditors have the right to refuse monthly payments on a balance due on a repossessed car?

READ your contract. It should deal with that issue. If you meet the conditions set forth by the contract, YES, they can refuse.


What can happen if you miss time share's monthly payments?

What can happen if you miss your time share's monthly payments depends on the contract you have with the company you purchased the time share from. In most cases you can expect that eventually the time share will be repossessed by the lender and sold to someone else. You will still owe the money that remains on your contract, even if you don't have the time share any longer.


What is the difference between installment and annuity?

Instalments are payments for your debts which can be paid on monthly, quarterly or yearly basis or way to make payments. Annuity is insurance product which is contract between you and insurance company for your investments.


When selling your house do you have to keep making house payments?

Of course you do. If you don't the interest and late penalties will add up and if it takes a while to sell the house you may lose it by foreclosure instead. You signed a contract to make monthly payments and you are legally bound to its terms.Of course you do. If you don't the interest and late penalties will add up and if it takes a while to sell the house you may lose it by foreclosure instead. You signed a contract to make monthly payments and you are legally bound to its terms.Of course you do. If you don't the interest and late penalties will add up and if it takes a while to sell the house you may lose it by foreclosure instead. You signed a contract to make monthly payments and you are legally bound to its terms.Of course you do. If you don't the interest and late penalties will add up and if it takes a while to sell the house you may lose it by foreclosure instead. You signed a contract to make monthly payments and you are legally bound to its terms.


How do you repossess my car?

Firstly, is not "your" car ... The lending institution actually "owns" your car and can legally repossess it whenever the monthly payments are not being made as agreed upon when the initial loan was signed by the buyer.The lender is entitled to recover their property by most any means. And is is their right to resell that car to anyone they choose in order to recoup their losses after not being paid by the original buyer.Miss a payment, lose the car ... simple business. After all, they have your signature on a document that states you promise to make monthly payments or face the consequences.


What are the consequences of beginning to make double auto lease payments monthly when you are halfway through a 3-year contract in order to pay the contract off early?

No consequences. You can pay double payments if you like. It will pay your account into the future. You can think of it like renting an apartment. If you pay double payments you will pay your obligation off early. Once you have paid the last payment of your contract you can then terminate the lease or keep driving it till the termination date on your contract it is up to you. Hope this helps.


What are your monthly payments?

Monthy payments are payments you make every month, like a house payment, loan payment, water, electric, gas (for heating), phone, insurance if you pay monthly, etc.


Can hospital report debt to collection if you pay monthly?

Yes, if you default the monthly payments.


In a repossession do you have to pay off the entire car right then or just keep making your loan payments monthly for the duration of the loan?

It would depend on the contract you signed when you purchased the car.


Do cell phones show on your credit right away after you sign the contract?

No. Cell phone companies do not report monthly payments to the credit bureau. They only check your credit for worthiness.


Can you pay principle payments towards your vehicle to avoid interest How will that benefit?

The answer is, it depends on what the contract says - it may say that prepayments are just early payments - you may owe 80 payments period, whether you pay them monthly or over 7.5 years. So RTFC (check the fine print)! :)


Can a bank report a car stolen if in default of payment?

YES, IF YOU CLAIM NOT TO KNOW WHERE IT IS. If you call the bank and say I dont know where the car is its gone, they are going to tell you to report it stolen. If you stop making payments on it then they will repossess, if there is no car to repossess then you are still responsible to pay the monthly payment car or no car If you stop paying and there is no car to repossess then they at that point can take legal action against you. I dont know if its reported stolen but take my word for it you will pay somehow.


If you make monthly payments can you be turned over to collection?

no you can not


Can you you buy the flex belt in payments?

Yes monthly


Can a credit card company charge off an account when they are receiving monthly payments?

Yes, if the monthly payment is not the minimum amount agreed upon, a breach of contract has occurred on the part of the account holder and the creditor may take whatever action they decide is warranted.