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How long does a repossession agency have to hold your personal property after repossession?
Wiki User
∙ 14y ago
A repo agency should follow it's state requirements. Most respected places will try to call or send a letter to a good number or address with this information.
Wiki User
∙ 14y ago
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How long does a repossession agency have to hold personal property in the state of Colorado?
There is not a set period they must hold it. They must "Make it available for collection for a reasonable period" This is usually the time between when they notify you of how the car will be resold and the date it goes on sale.
Is it legal for an automobile repossession company keep your personal belongings in Arizona?
Repossession companies must give you the opportunity to recover your personal belongings. That being said, they need not do so at the time of repossession. If they store your property for any length of time, the may charge a storage fee. They are not required to hold your property indefinitely either. If you make no attempt to recover you belongings, the repossession company will dispose of it after 30-45 days.
How do you stop a repossession in process?
Pay the past due amount on the loan or pay the loan in full. In the event you are able to do this, it is a good idea to have the lender contact the repossession agency to cancel the repossession while you remain on hold. If you fail to do this, it could take several hours for them to notify the repossession agency, and your vehicle could still be taken.
Can an attorney hold personal property without reason?
No an attorney cannot hold personal property without reason or even with reason. There is no documented reason that any attorney should withhold personal property.
Can an attorney hold personal property without a court order?
No an attorney cannot hold personal property without a court order. There is no documented reason that any attorney should withhold personal property.
Can Landlord hold personal property for back rent?
No.
Is it legal for the owner that financed your car hold your personal belongings until damages to car are paid before repossession?
NO, it is NOT legal.
How long must you hold abandoned personal property in Ontario?
30 days
Can you get your possessions from a car after a repossession?
you have sixty days from the date of the reposession to redeem personal property you need the primary driver /who the car's name is in to go to the repo lot with picture I.D. and they will have to sign a hold-harmless and personal property report which lists all the items in your car.If you had a firearm in your car then it would be unloaded and you will not receive your ammo back but can receive your firearm.If you come after the sixty days then your personal property most likrly has been disposed of as the saying goes finders keepers or we throw it in the dumpster or give away to GoodWill.
Does the lien holder have to hold your motorcycle after repossession?
After repossession, the lien holder or agent sends information on how to reclaim the vehicle; if the owner does not respond or cannot repay the outstanding debt, the agent removes all personal belongings and sells the vehicle at auction. You will then be liable for the difference in what it sells for and the balance on the loan plus repossession fees.
Can the repossession company hold your personal belongings after a repossession in Wisconsin and charge you for the storage fee?
Yes, they can. Ultimately they have to PERFORM WORK to gather, label, secure, and keep safe your belongings. They can charge you for this because they were forced to perform work. The law allows them to be compensated for it.
Repossession Services Agreement?
Repossession Services Agreement(Download)BACKGROUND:______________________________________, CREDITOR, and ______________________________________, AGENCY, agree:CREDITOR is the owner or collection agent for various retail installment contracts, granting liens on automobiles. From time to time CREDITOR requires repossession services when the various contract debtors are delinquent on their debts, and CREDITOR herewith contracts with AGENCY to perform such repossessions.TERM:This agreement shall commence on _________________________ and terminate on __________________________.TERRITORY:AGENCY shall act as the exclusive repossession service within the following territory:_______________________________________________________________ASSIGNMENTS:AGENCY shall only repossess vehicles upon a written order executed by an officer of the CREDITOR specifying the vehicle type, VIN and borrowers name, or identification of other property. AGENCY shall not release any vehicle to a person other than an agent of the CREDITOR.METHOD OF REPOSSESSION:AGENCY shall repossess the items, which are assigned to it without creating a breach of the peace, and in accordance with any laws or regulations related thereto. In the event that any repossession cannot be accomplished without a breach of the peace, AGENCY shall immediately notify CREDITOR and shall discontinue attempts to repossess unless the CREDITOR reassigns the same.INDEMNITY:AGENCY shall indemnify and hold CREDITOR harmless from any claims related to the repossession activity undertaken by the AGENCY. CREDITOR shall indemnify AGENCY from any claims that CREDITOR did not have a legal right to seek peaceful repossession of the items assigned.INVENTORY:In the event that any vehicle which is repossessed contains personal property, AGENCY shall have 2 persons witness a complete inventory. A copy of such inventory shall be provided to CREDITOR. AGENCY shall release such items of personal property to the debtor upon execution of a receipt of the same.RELATIONSHIP:The relationship between the parties is solely of contracting party and independent contractor.CUSTODY OF VEHICLES:During custody of the vehicles AGENCY shall use all possible care to protect and safeguard the vehicles, and shall deliver the same as directed by the CREDITOR, and CREDITORs expense, in the same condition as received, any ordinary wear and tear excepted.SUB-CONTRACTOR:AGENCY shall not sub-contract its performance without the previous written consent of the CREDITOR.PAYMENT:AGENCY shall receive payment as follows:_____________________________________________________________Dated: ________________________________________________________________________For Creditor_______________________________________For AgencyRepossession Services AgreementReview ListThis review list is provided to inform you about this document in question and assist you in its preparation. This is a standard repossession agreement that can be modified to meet the terms you require in your business activities.1. Make multiple copies. Give one to each signer.
