Angela, I dont think I have ever heard of a MAX time limit. the UCC says they have to sell in a "commercially reasonable" manner. Some states permit title loans to sell in as little as 3 business days. I have seen cars sit for 2 months. In MS. the lender cant sell till 10 days has passed. Good question.
FL - 10 days must pass before the sale, if more than 60% of the cash value and you would be responcible for the difference. < 60% then they can wait 30 days and sell the car and keep any profit made from the sale. 10 days, any profit goes to the debtor.
Remainder from above... as far as time limit, there is no one in FL, just a "timely manner".
I have a welding machine on the truck they repossessed can they keep that?
Once your car is repossessed, it is covered by the repo companys and the lenders VERY expensive ins. No need for you to maintain coverage UNLESS you plan on redeeming it ASAP.
only the last one counts
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 the whole vehicle off if it was repossessed.
Mary, the answer is NO. You will have to pay the balance due after the sale price has been deducted.
No you don't still owe; once the motorcycle has been repossessed, it is no longer your concern. Whether the creditor sells it or fails to sell it is the creditor's problem, not yours.
i have nofing clue
Cancel your policy.
I'm assuming you are asking regarding a bankruptcy. An automatic stay is a utility of the court, that legally prevents contact with you from creditors after they have been notified of the bankruptcy proceedings. Once you file, the stay protects you and your proerty for as long as the stay exists. Once the BK is dismissed or discharged, the stay is lifted. While the stay is in effect, the vehicle cannot be involuntarily repossessed.
Once trash has been thrown down the garbage chute, it falls into a dumpster. A garbage truck will come once a week to empty the garbage truck and take the trash to the dump.
YES, you should get a notice from the lender outlining what ya need to do.
Yes. Once you default on your loan, it's their car. They're not obliged to tell you anything.
From the time you place the order until the truck is delivered is normally around 4 to 6 weeks.
The only way to get it back would be if it were up for sale and you bought it. Once it's legally sold, it becomes the property of the new buyer.
cats have been around for a long, long time, as they were once worshipped as gods in Ancient Egypt.
once you are 90 days down they can start with a foreclosure.
YES. Read your contract.
It will be auctioned off and the bank will want to collect the difference of what it sold for and what your loan was.
One Kansas attorney says 20 days and another says 10 days.
Absolutely. Once the car is considered repo'd it is all paperwork, otherwise you could just hide the car from the lender.
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 full or give up the car on the second or at most third repossession.
You rights are to GET IT BACK, PP is not subject to the security interest on the car.
There is no way that you will be able to get that care back. Once a vehicle has been repossessed the company holding the car is in the process of auctioning that vehicle. You will have a balance once this vehicle has been auctioned out. You should receive a statement in the mail withing 60-120 days stating what you owe. Sometimes if you are lucky you will end up owing anywhere from 50-75% of the sales price of that vehicle. If you are not that lucky, and you are left with a full balance that you owe, your best bet is to negotiate with the lender or collection agency that has that account.
The time your contract says. If once a week or once a month. Read the contract or bend over.