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I hold the security interest on a vehicle. How can I repossess this vehicle?
Wiki User
∙ 15y ago
YOU NEED TO DEFINE YOUR SECURITY INTEREST, MEANING THE COLLATERAL IS OR WAS A PART OF COMMUNITY PROPERTY. IS YOUR NAME LISTED ON THE TITLE ALONG WITH ANOTHER PERSON OR ARE YOU LISTED AS A SECURE LIEM HOLDER?
Wiki User
∙ 15y ago
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If a bank does not hold the title to a vehicle and no bank lien is shown on the title can the bank repossess the car if payments are behind?
This is a rerun. IF someone is making paymnst, there is a security interest somewhere. Dont be fooled by the title and the leinholder part. They have a perfected lien on it. Good try, no candy for you.
Can a bank in the state of Ohio hold the title or repossess an automobile that is in a spouse's name who did not sign the loan agreement?
Yes, if the vehicle was purchased during the marriage it is considered community property.
If you default on a auto title loan can they report the vehicle stolen?
If you have signed the vehicle title over to them as security for the loan, or they hold some kind of legal paper giving them ownership, yes. If you don't pay back the loan, or fail to surrender the vehicle to them, legally the vehicle belongs to them. ----------------- No, it is a civil matter. They can repossess the vehicle, report as a default on your credit and sue you for defaulting on the contract. ------------------ READ YOUR LOAN CONTRACT! If you default, and then conceal the vehicle from them, or their repossession agents, you have "converted their asset to your own use" - which is the definition of larceny - which is a criminal offense.
Can they repossess your car with out a court order in the state of Vermont?
They don't require a court order to repossess a vehicle... the only way a court order would be required is if the court had ordered you to give up your vehicle as collateral if you found yourself on the losing end of a lawsuit or something to that effect. A vehicle which is paid off cannot be repossessed, because the lienholder - who is the lawful owner of that vehicle while they hold the title - is reclaiming their own property after a lessee fails to meet the conditions of their contract.
Can your leased car be repossessed because of no insurance even if you are up to date with your payments?
If the terms of the lease include the requirement that you must provide insurance on the vehicle, and I've never seen a lease agreement that doesn't, yes, they can hold you in violation of the lease and repossess the vehicle.
Can a debt collector repo your car is they are not lienholder on title?
No. To be able to repossess any of your property, they must hold a lien on it. If they have no lien on it, they have no right to repossess. Their only option is to take you to court.
If you had a company tralier on your truck when they took it can they hold your companys trailer?
No. They can only repossess the power unit they were sent to repossess - they cannot take the trailer. At that point, it's theft. Especially if it's loaded.
Does a collection agency need a court order to repossess a vehicle - hospital bills?
The collection agency cannot reposses the vehicle unless they are the lien holder. If they are, they do not need an order of replevin to seize the vehicle unless they live in one of the few states that require such. If the collector does not hold the lien on the vehicle they will be required to file suit against the debtor, receive a judgment and execute said judgment as a forced sale or a lien of/on the judgment debtor's vehicle.
Can you put another vehicle on your insurance not in your name?
You mat be able to if you have an insurable interest. For instance, your child living at home has a car in his name or you hold a loan on a car not in your name.
When can an auto pawn shop repossess your car?
This will depend on the state laws where the car loan was made. You mention repossess, was the car in your possession while the loan was active or was it being held at their property. The reason I ask is since most Pawnshops are required by law to hold the item, whereas another business, Title Loans are not required to hold the vehicle. Either way, you should have been provided with a contract that would show when the default date is/was. Also in most States both of these businesses are regulated by state laws and would have to abide by these limits. Phil
How do you get hold of Social Security online?
The web address for Social Security is: www.ssa.gov
How can a lien holder refuse to return property back to buyer?
Generally, if there is a debt involved the lien holder can hold the property until the debt is resolved. It is a security interest over property to guarantee payment.
