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How long does it take a loan company to repossess your car after it charges off?
Wiki User
∙ 14y ago
2-5 months
Wiki User
∙ 14y ago
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How long does a company have to wait to repossess a vehicle?
This would be determined by the terms of the loan agreement and the applicable local laws. Within the loan agreement there should be reference to the action that can be taken to repossess the car should non-payment arise.
If you are gifted a car in a will that is not paid for how long does the estate legally have to give you to pay off lien?
If you inherit a car that is subject to an outstanding car loan you need to keep up the payments with the LENDER according to the terms of the original loan. If you default on the loan payments the loan company can repossess the car.
When can a bank repossess someones car?
When the owner defaults on the loan payments
When filing for bankruptcy and including the car how long is it before the creditor collects the car and how does that work?
The loan company can repossess any car that the payments are delinquent on. Your BK does not prevent repossession of your car.
Can a car be repossessed if two names on title and one person took out loan?
Yes. How many names are on the title and/or the loan means absolutely nothing... so long as there is a lien on that vehicle, that lienholder is the sole lawful owner of that vehicle, and can repossess it as recourse for delinquent payments.
How long do you need to be delinquent before they can repossess your car in Pennsylvania?
CHECK THE LOAN PAPERS. SOME 30 DAYS SOME ARE LONGER. IT ALL DEPENDS ON YOUR LOAN.
If a dealership assigns a car to a finance company and the finance company says you don't owe them can the dealer repossess?
If the finance company has been paid in full, then why would the dealership (or the finance company) want to repossess your car? If the loan hasn't been repaid and is long overdue, then the dealer and finance company will probably decide who actually repossesses the car. Either way, it's up to them, not you. Best thing to do is check the fine print in your loan agreement (which you signed when you bought the car) and see what it says about overdue payments, repossession, etc. If you've lost it, call your dealer and ask for a copy.
If loan is not reaffirmed on a mortgage is the property still mine payments are made on time?
as long as you keep making payments the lender will probably not repossess the property. however, if you miss one payment the lender can repossess the property at any time.
How long does it take to claim the sss salary loan check from company?
how long does it claim for salary loan sss
How long does a reposessor have before they can sell a vehicle that was repossessed?
As far as I know, they can sell it the same day they repossess, unless there is some provision in your loan contract. But the car actually is theirs. That is what repossession means. They have the title, because when you signed the loan contract, the loan company actually bought and comletely paid in full for the car from the dealer, and then allowed you to drive it while you paid them back in installments. The loan company actually completely owned the car from day one, you never actually owned it. So, when they repossess, they are taking their car back away from you. They can sell it anytime they want. If they are nice, they may give you the opportunity to catch up the payments, and drive it again. All that is completely up to them, providing there wasn't some clause in the loan contract that prevents them from doing that, but I seriously doubt that.Here is an interesting side note. Most loans require you carry full coverage insurance on the vehicle at all times. If you let that insurance drop, they can repossess the car, even if your loan payments are up to date.
What happens to your auto loan when you stop paying on it for a long period of time?
You start getting letters from a collection agency then guys like me buy out your contract & repossess you if and when seen.
Will the bank repossess your car if it has been stolen and in an accident and the insurance was expired?
As long as you continue to make the payments, you are OK. If you fail to make the payments, they will repossess the car, sell it, and you will then owe the difference in what it sells for and the balance on the loan. The previous answer overlooked one important point. INSURANCE WAS EXPIRED If they don't repossess it, it is only because it is worthless after the accident. What they would prefer to do in this case is "accelerate the payments", i.e. make you pay the remainder of the loan immediately. Then you can worry about disposing of the carcass.
