How do you pay back the loan company after your car has been repossessed?
nan, it depends on what you and the LENDER agree on. You agreed to pay them so much a month before and didnt manage to do it, sooo they will be tougher the next time around.
I got a different loan to pay off the first loan, the interest was a little higher, but I figured I would still owe the first lender the difference of what the car was sold at at action. (Car was worth 16k, they would prob auction for 10-12k.) I would be held liable for the differnce. I would still be out a few thousand dollars, but at least this way I would have a car.
Call the loan company and ask them. If you are up to date on your loan you have a case against them. Read More
Bank or loan company who repossessed it. Read More
Can your driver's license be suspended for not paying the balance of a loan after the vehicle was repossessed?
No. Absolutely not. Your driver's license cannot be suspended for not paying a loan or the balance of a loan, repossessed or not even if you get threats from the loan company. Read More
If your car was paid off, then why was it repoed? Or if you mean you paid it off after it was repoed, then if the loan company accepted your money,then they have to give you the car and title back. I would call them and get it back or your money back. Read More
Once a car has been repossessed, you as the owner of the vehicle have the obligation to repay any amount still owed on the loan. Once a car is repossessed, it is often sold in a repossessed cars auction by the finance company. The amount which the car was sold for will be deducted from the total loan amount and then the difference will be owed by yourself. So yes you would have to pay… Read More
Yes. Read More
Can the bank come back to you for the difference of the loan after the car has been repossessed and auctioned?
yes they can...but it also depends on state laws too Read More
Can a loan company in California have your car repossessed if you haven't been able to carry car insurance?
YES, if you are in DEFAULT of the contract (NO ins. coverage) they can repo. Read More
You had an auto loan with Chrysler Financial and they sold your car to another company because you were behind on payments Now your car has been repossessed Can you get your car back?
YES YOU CAN BUT THERE IS A SHORT TIME FRAME TO RECOVER IT AND YOU MUST BRING THE ACCT CURRENT FIRST. Read More
In New York State does a car loan company have the right after a car has been repossessed to freeze and over draft your bank account?
You need to read your loan agreement very carefully you may have given them that right. Read More
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. Read More
You need to have the title transferred to your own name and notify the loan company of the change in ownership. Then you will need to pay the balance of the loan or renegotiate the loan with the bank. If you don't pay the loan the car will be repossessed. Read More
IF the loan is perfected, it can be repossessed. If you have signed a loan contract with the vehicle specified as collateral for that loan, it can be reepossessed if the loan is in default. Read More
Can you get your car back after it has been repossessed from the title loan company after I file bankruptcy?
Only if the car has not been sold, at auction usually. Some states require notice of the repossession and intended sale date. Consult a local bankruptcy attorney if you have filed pro se or pro per (without a lawyer), or your state Attorney General's office. Read More
Can a company legally refuse full past due payment plus repo fees after the car has been repossessed?
Yes, this is because the loan agreement was voided when you were late with one payment.The lender has decided to auction or sell the car even though you can bring the loan current,they can do this. Read More
It will usually take anywhere from a month to two before you hear back from a loan office. If has been longer than this, you may want to call the loan company. Read More
Yes, if the vehicle is repossessed and there is a deficit between the sale and the loan balance, (including fees and penalties)and the borrower cannot pay what is owed. Read More
Yes, your car can be repossessed if the title loan is in collections. Actually, this is one of the most common ways for a defaulted title loan to be settled. Read More
If your car is damaged while it is being repossessed who is liable for the damages the loan company or the repossession company?
The LENDER is responsible for every detail of a repossession. They may pass the costs of repair on to the repo company. Read More
Your car was repossessed with your belongings in it Can you consider them stolen and call the police?
You can. They probably won't do anything. Call the loan company to see where you can get your things or they will mail them to you. Read More
You can, but there is no guarantee the loan company will do so. They do want the money however more than the car, so if this is the first rough patch you've hit, they may. Just act quickly. Read More
In Arizona when car is repossessed do you need to pay the whole balance left on the loan or what you owe to get the vehicle back?
Depends on your bank and what the history is with the loan. They have the option to make you pay the entire amount of the loan. They can also allow you to just bring the loan current along with any other fees to get it back. Read More
Can your car get repossessed even if it has been towed by another towing company for a parking violation?
Yes, the lender can recover the vehicle by paying the towing fee and other charges and then add the expenses to the loan amount the borrower already owes. Read More
The one who BORROWED the money and/or the on who COSIGNED the loan. Read More
If you are the co-signer of a vehicle that was voluntarily repossessed how can you get your good rating back?
PAY THE LOAN OFF. the loan NOT being paid was what damaged your credit so start rebuilding by paying it. Read More
After it's been repossessed once, it's not your car anymore, so... once? If it's repossessed and you're able to bring the loan current and redeem the car before it's sold so that you get it back, there's no limitation on the bank repossessing it again should you again fall behind. This could theoretically happen every single month of the loan, though in practice most lenders would insist that you either pay off the loan in… Read More
Get back a personal loan. Is it in default? Contact loan company or debt collection agency and start making payments. Read More
To determine how long one will have to be delinquent on a loan before a car is repossessed depends entirely on where the loan was taken from. Different places allow different payback requirements. Read More
No you can't be sent to prison.You can declare bankruptcy . Read More
If your car was repossessed, they will sue you for the difference in what the car sells for and the balance on the loan, plus repossession fees. Read More
I think yes your your tags should be mailed to you but better is you have confirm with your car loan lenders. Read More
If your transmission was damaged during the towing of your repossessed vehicle which you recovered can you get the towing company or lender to pay for the damages?
Probably not. The risk was yours since towing was the logical next step for failing to meet the requirements of the loan. It was your failure to meet the requirements of the loan which led to the vehicle being repossessed which subsequently caused the vehicle to be towed. All the towing company needs to do is to prove that they used standard towing practices. Read More
What do you do if you want your car repossessed because you can't afford the payments but the finance company refuses to take it?
they dont have to take the car back,although they can sue you for the value or the balance of the loan If the lender is local, leave it in their parking lot, then call them and tell them where to find the car. Read More
Can your vehicle be repossessed after the loan and security agreement has expired but you still owe a considerable sum?
Loan and security will always be active against the vehicle. It never goes away until paid or repossessed. Yes, the collateral may be repossessed at any time. Read More
If you stopped paying your car loan but the lender never repossessed the vehicle what can you do with it?
If You Have A Clear Title On Them, About Anything You Want. If They Have A Lien On The Titles, It Will Have To Be Removed By Payment Of Loan. Otherwise Contact The Loan Company And Have Them Tell You How To Deal With This In Writing. Be Sure You Get Written Information Before You Do Anything If They Show A Lien. Read More
What happens if your car is totaled and you are paid up on your insurance but not on your car loan will it be repossessed?
The insurance company would not be interested in repossessing a car that has been completely demolished. The insurance company will pay over any damages to the loan company since it has a lien on the car. You would receive any amount remaining after payment of the car loan. On the other hand, you will be responsible for any remaining balance owed on the car loan. That is why "gap insurance" is important for a financed… Read More
The debt is not cancelled simply because the vehicle was repossessed. The borrower is still responsible for the existing amount of the loan (if any) after the vehicle has been sold at public auction. Read More
If you have never had a car repossessed you have had a house repossessed Can I still get a car loan?
Most likely not depending on what financial situation you're in. Read More
If your car was repossessed does the car loan company have the right to put a hold on your bank account then over draft it?
no the only thing they can do is take it out of your paycheck. Even In New York State Read More
It is very difficult but if you have a good relationship with the bank they may allow you if you pay some of the debt down. Read More
Not sure of your question. Do you mean do you still owe after the car is repossessed? Or do you mean do you have to pay off a loan to buy a repossessed vehicle? It depends on the state you are in, contact the lender. Read More
It depends on how many times you've been late on vehicle payments. Most of the time though as long as you are making a payment of some kind on the loan your vehicle will not be repossessed. Read More
If your house is repossessed due to a secured loan and there is not enough equity to pay the loan what then happens to the secured loan?
You will be liable to pay the debt outstanding. Read More
If the loan company says you have to give the car to repo and you can buy it back within 15 days do you buy it for what is owed or will they make you pay blue book?
Get the loan company to put the price in WRITING for you BEFORE you take it back. If it is not a good price, go find another car. Tell the loan company to take a hike. Read More
It depends on the policies of that company from which you have taken loan. Also because no one can reply you best in this matter than the company itself. Read More
If it is repossessed, you will owe the difference between the loan amount and what they sell the vehicle for. Read More
Yes, it can be repossessed. If you owe money on a vehicle and do not have a clear title of the car - In reality, this car is not yours until the debt is paid. The car is collateral until your pay the loan off. If the car was repossessed, the personal contents like the car seat must be given back to you. Read More
Your husband's name is not on the deed, but is he on the loan? If yes, then it cannot be foreclosed and repossessed if the property is listed on his bankruptcy filing, and, as long as his bankruptcy payments are current. If he defaults on bankruptcy payments, then you can lose the property. If he is not on the loan, then your house can be foreclosed and repossessed. Read More