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Repossession

How long can a bank take to reposses your car?

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2006-01-20 00:08:15
2006-01-20 00:08:15

There is no limit. If the lender is not in a hurry for the vehicle, then they may not move on it right away. On the other hand, if your behind and they belive they are able to capture back funds they may move on it right away. Don't take any chances, most will work with you to get you caught up. CALL them. You might be surprised. - Repo man in Central Ohio

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When the "owner" stops paying for it, the bank will probably call repeatedly and may send something in the mail.

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We come out, at any given time, take the car, and you call your bank and ask how to get it back. I do a lot of repossessing in Idaho. We just come out. You can pay all but 5 cents of the car off, and since you have been in default, they can take the car.

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you took a loan to finace the car from the dealer- the bank holds the title to your car- you are the owner and respondsilbe to pay the loan or the bank or fiance companmy can reposses your car

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A creditor cannot reposses a car without BK court approval (i.e. relief from the automatyic stay). However, if you do not keep paying the car loan, a BK will allow a creditor to reposses the car.

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It depends. Did the bank reposses or did you turn the car over in lew of payment(this would have been worked out with the bank)If the bank repo'ed the car, once they have sold the vehicle they could sue you for the the balance owed (subject to state laws that may govern this transaction.)

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If you don't make your payments, the lien holder has right to take the car any time.

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you can only reposses a car that has out standing payments. unless you are involved in crime and have profited through illegal activities then both cars can be repossesed.however if you have only defaulted payments on one car then your other car is safe.

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Every financial institution is different. Typically 1 to 3 months.

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can a finance company reposses your vehicle if you made your payment on the15 day

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Put key in, start car & drive away.

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to the home of the person who can't pay for his car.

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It depends on what you want to do...If you want to get your car back, contact your lender and see what they want...

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If you have paid more than a third of the total HP price including charges than they have to take you to court. If you've paid less than a third they can reposses it without a court order.

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They don't really need to. If a bank wants to reposses your car, they will hire a repo man to do it. Licensed repo's have master keys from the car manufacturers that can get them into most cars. Do you owe to a bank or to the dealership? The dealership has a key to your car. The bank can work with the dealership in a similar way. If you owe the bank and there either is no dealership involved or the dealership cannot provide a key, they still have options- they can tow the car, obtain a key from the manufacturer, have one made, etc. They normally already have this process taken care of before the loan is granted. Until the car is paid off, it belongs to the bank or dealership. If they are not being paid on a regular basis, they will take whatever measures legally possible to reposes their property. On a similar note, when they come out to repose the car, they have already called the local authorities. This allows them to take the car whenever and from where ever.

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The bank holds a lien on the title of the vehicle. If you default on the payments, they can reposses it. This is a civil issue, and is handled as such. Unauthorized use of a motor vehicle is a criminal charge which doesn't apply to a civil situation.

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Yes. In most cases if you fail to pay after 52 days, the bank has the right to reposses your casa. But if you have been a good costumer with on time payments and call the financial institution they can work something out.

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Yes. There is not much point in repossessing a car for only a part of the day!

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if they believe that your unable to pay or can cause a damage to the car that will caused the vehicle to lose its value (wrecking it) even though if your up to date on payment they can have the car reposses under the conditions of DUI, going into default, strange account activity.

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As long as the bank is listed as the lienholder on the title and as long as you owe them money and haven't paid they can repossess the car.

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It will show up as both. If the bank auctions off the car, they may come after you for a deficiency judgment. Any chance of them coming after you would be taken care of in the bankruptcy.

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Your feet will become sore eventually from all the walking you will be doing.

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They can litterally reposses your car 1 second after midnight the day after your payment is due.

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Quite probably. Because you have paid so much of the loan they might even find it more attractive to do so.

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YES, as long as the car is collateral for a loan, they can repo it.


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