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How do you get a repossessed vehicle back if the lender does not want to give it to you?
Wiki User
∙ 17y ago
First of all you call the repo company. After that keep trying to call the bank. As long as they don't sell the car you can still get it back by paying the reinstatement amount. * A repossession agent/agency is contracted by the lender, they have no authority to release a vehicle unless the lender orders them to. The lender has no legal obligation to reaffirm the vehicle loan or make any other financial arrangements for the person to recover the vehicle unless state laws allow a time limit for redemption or other applicable remedies.
Wiki User
∙ 17y ago
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Does a creditor have to notify you if repossing a car?
In some states yes. In some state the lender is not required to give any notice at all before or after. In some states, the lender is only required to give you notice after the vehicle has been repossessed.
If your truck is repossessed can you still be sued?
When a vehicle is repossessed by the lender it is sold at a public auction for as near the fair market value as is possible. The amount the vehicle is sold for is deducted from the balance of the loan and the borrower is responsible for the repayment of that amount plus any interest and additional fees. If the borrower is unable to make a payment agreement with the lender, the lender does have the option of suing for the amount owed and legal costs. It isn't possible to give a definite answer on if the lender will or will not sue the borrower for the debt.
What personal information can your lender legally require in order for me to get your repossessed vehicle back?
No more than they asked on the application when they loaned you the money. Name, current address, current pH #. SSN, ect. the usual. What are they asking for that you cant give?? Ins, info??
If your car is repossessed for being three payments behind can the bank refuse to give the vehicle back if you pay the repo fee and catch up your payments?
Read the contract again. What part of it are you in DEFAULT on? There is a clause in most contracts that says the lender can accelerate the balance due for a number of reasons.
Does having the title to a repossessed truck give you any legal rights?
NO, the truck probably has been sold already and the lender got a repossessed title to sell it with. Of course they do make mistakes. LOL
When your car gets repossessed are you able to get your tag back and can you get something from them that says it has been repossessed?
You are allowed to set up a time with the tow company that retrieved your vehicle to get any personal items of yours out of it, that does not include installed stereos or custom wheels. As for the notice, you will need to speak with your finance company, they will usually offer to give you back the vehicle if you can pay what is delinquent.
How do you voluntarily let your car be repossessed?
You need to give the car to the lender - if they are too far away then you need to call them and tell them where it is and ask them how they want to get it.
If the bank never repossessed your car and you gave to your landlord for back rent then your wages were garnished after it's paid off can you get possession of your car back?
It was never yours to give to the landlord. IF the landlord settled with the LENDER to get title, then YOU are out of the picture completely. EXCEPT for the garnishment of course.
How do you get your car back from repo and how long do you have to get it back?
If a vehicle has been legally repossessed, then the bank has absolutely no obligation to give it back to you. Ever. But many banks will work with you in rder to get the loan repaid, but from a legal standpoint the bank has ownership at that point.
When will your car repo balance get wiped out?
The balance remaining after a repossession will remain due for a minimum of seven years after the vehicle was repossessed or ten years in the event of a judgment. Also in the event of a judgment, an additional ten years can be requested by the lender. Here is another secenario: the vehicle is repossessed and the debtor refuses to pay. The lender can opt to seek a judgment for the outstanding balance, or the lender can wait for 6 years, 11 months before doing so. This in essence give the lender 17 years to collect the debt. Now say the debtore continues to refuse to pay; the lender can then seek that ten year extension, given them 27 years to collect. In addition to the unpaid balance, the lender can add on repossession fees, collection fees, court costs, and legal fees, and in some states simple interest. That $1000.00 you owed when the vehicle was repossessed can quickly turn into $20,000.00 or more. The lender is not going to sit by and let that remain uncollected. Once the judgment is obtained, the rules for collecting change as well. With the judgment, the lender can attach your bank accounts, garnish your wages, place liens on other property, petition the court for forced sale of other property, and attach your income tax returns.
Can you recover personal property if your vehicle was repossessed and the lender said they would give you two weeks but sold it after 10 days?
If you read the letter that the lender sends you within 5-7 days your answer should be there. There is a date that is stated when your car will go through the process of sold or auctioned if you don't reinstate! Sounds like they gave you 10 days instead of business days but.... did you read the date?!
Can a finance company check references for a repo car?
Any information you give the lender or the lender obtains in the attempts to recover the vehicle by repossession is legal to use for that purpose.
