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How do you repossess a motorcycle financed in your name but in the possession of another who has defaulted on loan?
Wiki User
∙ 8y ago
One can either take the bike ones self or hire a recovery agent to do it. Does one know where the bike is? Do one have a key to the bike? Do one have somethiong to haul the bike on?
PS. is one's name on the TITLE? id not, one is in a bad place. If one is ONLY on the loan and not the TITLE, one has been had.
Wiki User
∙ 8y ago
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What are the proper steps to repossess a motorcycle you financed for a friend?
depends on what state you are in.
Can the cosigner repossess property other than a vehicle if the primary debtor is not making payments?
No. The co-signer has no power of "repossession" unless they are on the title of the financed property. In that case they can "take possession" of the property and pay the loan.No. The co-signer has no power of "repossession" unless they are on the title of the financed property. In that case they can "take possession" of the property and pay the loan.No. The co-signer has no power of "repossession" unless they are on the title of the financed property. In that case they can "take possession" of the property and pay the loan.No. The co-signer has no power of "repossession" unless they are on the title of the financed property. In that case they can "take possession" of the property and pay the loan.
Can you repossess a car in Colorado which you financed for a boyfriend soley in your name even if he has been paying as agreed and you only have a verbal contract?
IF the TITLE is in your name ONLY, it is your car and you can take possession anytime. Be prepared for a possible countersuit for BOC by the ex. Good Luck
Is it legal for a dealership to repossess a vehicle that was not financed only a bank error without letting you correct the problem?
YES
Can a car dealership who in-house financed the car repossess it?
YES, if they have the folks, ect. to do it. A lot of note lots do so.
How do you get the title to your Yamaha motorcycle after you pay it off?
Depends on who you financed your bike through. If you financed it through the actual motorcycle dealership than you should give them a call and ask for the title. Same thing goes for a bank.
Do you need full coverage insurance on a financed motorcycle in las Vegas?
yuo. financed motorcycle always need full coverage . i bought my gsxr finanaced and had to get full coverage . The dealer ship requires u to get it -_-
What are the steps necessary to repossess a motorcycle you financed for a family member in Georgia?
You need to have paperwork showing the bike as collateral for the loan, (like banks do), you need to show that the loan is in default, and last but not least, you need to know where the bike is. You CANT go in a locked door/gate. NO breaking and entering. It must be a peaceful repossession.
A car is financed in both me and my ex girlfriend's name who gets possession when we depart?
The registration determines ownership.
Went to a credit union and financed my car once I pay it off I'm gonna get a motorcycle thru them should I get a motorcycle loan or a signature loan?
It would be better to get a motorcycle loan because the interest rate will be lower.
Is Wells Fargo required by law to send a notice before they repossess your car?
No. Their terms and conditions were laid out for you in the contract which you signed when they financed your vehicle. If they do give notice, it's more as a courtesy, and also because they'd much rather you make your payment than to have to repossess your vehicle.
Can you just pay the principal on your defaulted student loan?
No ... you will need to pay the entire 'financed amount' that includes the interest charged. One needs to call the student loan people and get a 'payoff amount' from them first.
