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How long does it take for the bank to write off a vehicle if they are unable to repossess it?
Wiki User
∙ 8y ago
I think it varies on how long and who the finance company is but the last time I made a payment on my truck was November of 2007 and its January of 2009 and im sill driving it
Wiki User
∙ 8y ago
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Can a bank repossess if the borrower defaults and there is a cosigner on the vehicle?
The cosigner becomes the target next. If you default, it is up to the cosigner to pay the bill or both of your credits are ruined and the bank takes their usual steps to repossess a vehicle.
If you are in repossession status and are making efforts to pay on your late payments can they still repossess your vehicle?
Once the loan is in default the bank has the right to refuse payment and repossess the vehicle.
Can the bank repossess a vehicle even if the payments are current?
Not IF you reaffirmed the loan with the creditor.
Your father died and had just bought a new vehicle what happens with this vehicle will the bank take it out of his estate?
The bank can repossess the car if payments are not made.
Can a bank take a car that some else as a lien on?
Yes, the bank has the right to repossess the vehicle if you are in arrears on payments.
Can a bank repossess a vehicle that is not used for collateral?
If the bank has an order from a judge to liquidate or surrender property to satisfy a judgment, then yes, they may.
Can a bank suspend your license or registration for non payment on a truck?
Your driver's license is an instrument issued to you individually by your state government. Your bank has no bearing in its status. What your bank has is a lien to your vehicle which essentially means that upon your failure to pay, they have the right to repossess the vehicle and sell it to recover the money that they are owed. So while your registration won't be suspended, your bank may send a tow truck to repossess your vehicle.
Can the bank take your car at the dealer if it is in the process of repossession?
The bank can repossess their (not 'your' vehicle until you possess the pink slip) vehicle at any point where it's accessible to them, including places of business.
Is it legal for a dealership to repossess a vehicle that was not financed only a bank error without letting you correct the problem?
YES
You can't pay for the car but the company won't come get it?
The bank that you have the loan with hires repo men to repossess the vehicle
Does the bank have to tell you they are going to repossess your car.?
Yes, the bank must tell you that your vehicle is being repossessed. The bank will usually try to reconcile the debt before the repossession takes place.
Can the bank repossess your vehicle if you are only 17 days late in Virginia?
Read your contract. Likely the answer is YES. As long as you are in DEFAULT, they can repo.
