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Seven years from the date of last payment, that is unless they pursue legal collections. In the event they do and obtain a judgment (and they will), they have ten years to find it, and another ten years if they file for an extension. I personally guarantee that it will not take 27 years (the original seven years, plus the ten for legal, plus the ten for the extension) for the repossession company to locate your vehicle. It will be found. Consider how much information you gave to obtain the loan. Take a moment and look yourself up on the internet at a site like Intellius, and consider that reposession companies have access to far more sophisticated software and resources. Do yourself a favor, and just turn in the vehicle. Consider also that the loan company does not need to repossess your vehicle to recover their payment plus a whole lot more. Once they take the account through the legal prossess, they can attach other asssets, they can garnish your pay, your taxes, and your bank accounts. They will win, how much you lose is up to you, and you will pay all fees related to collecting the original balance.
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When a bank repossess someones car?
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.
How do you find the repossession balance due after the lender has resold the car without contacting the lendor?
There will be a long waiting period for the bank to send you a notice. You can call the bank for faster answers. There will be a long waiting period for the bank to send you a notice. You can call the bank for faster answers.
How long after paying can you get your car back?
Every person's financing situation with their vehicle is unique. You'll have to call the people that repossessed your car (your bank, the dealership) to find out.
How can you find out if a car is in repo?
Call the bank and ask.
What can i do if the bank rescinds the auto loan but the car is already registered to me?
Accept it. So long as you owe the bank money on that car, the bank owns it, and has a right to reclaim it.
When can a bank repossess someones car?
When the owner defaults on the loan payments
How do you find out who repossessed your car?
The bank/lending company are the ones who repo your car the repo chimps are just their agents.Your bank should tell you.
How do you find out if the car title says and or or on it if the bank has it?
what you are really confusing me
How long does the bank have to come after you after your car has been repossessed?
Does the bank have your current address and/or phone number? They will be calling on you.
What is a benefit of borrowing money from a bank to purchase a car?
The car is paid for over a long period of time.
Where can one find a car payment calculator?
One can find a car payment calculator online on several websites. Some of these websites are Edmund's, Bank Rate, Yahoo Auto, Rate City and Bank of America.
How long does it take for a bank to get the repossession process started?
About an hour. Just long enough to fax 3 pages. They do it every day so they wont have to find out how to go about it. Get your stuff out of the car. Good Luck
