If someone has not made a payment on a motorcycle for three months and it was repossessed what should they do if they do not what the cycle back?
2 choices here.
- 1. Call the lender and tell them you dont want it.
- 2. Do NOTHING.
Same results either way.
Wrong the result is not the same by not taking action. Remeber you received a loan. The company didn't by a motorcycle they loaned you money. In the case that you do not want the bike back then let it be sold at auction. More than likely you will have a remaining balance which you will still need to pay to get you credit in some what good standing. Make sure and contac the lender and let them know what you want to do.
Can furniture be repossessed if payment has not been made in 6 months but you start back making payments?
Can a motorcycle be repossessed if you haven't made payments in 6 months and then started making payments again?
Sure it can, if that payment was not enough to fufill your end of the contract. A car wont be repossessed if it is only a month behind. If you are five months behind, and make one payment, you are still behind... even the next day, when you are only four months behind. One payment may not catch you up. When you purchased the car, the deal was, likely, that you get to drive the…
This will usually be stated in the contract you sign when financing the vehicle. Some places, especially the "Bad Credit/No Credit" lots will attempt to repossess in as little as one day after payment is due. I don't see any financier letting it go for longer than 4 months with no payment be for they file for repossession.
No once it's repo'd you either have to work it out with whoever financed the vehicle to get it back or your at a total loss. And banks will sell the vehicle at an auction to the highest bidder which most likely if you just got the car will be thousands less than what you just financed it for,which you'll also owe on top of your loss.
How long after your car is repossessed can you get finacing for another vehicle without a large down payment or going to a buy here pay here place?
What should you do if the lender obtained a judgment to repossess your motorcycle eight months ago and they have yet to pick up the motorcycle and you are in Wisconsin and the lender is in Texas?
After your vehicle is repossessed and the car has been auctioned off can arrangements be made for the remainder of the loan balance?
The vehicle was repossessed for non-payment of the lease, correct? You still owe all the money to the lender, even though you no longer have the car. You signed a written agreement with the lender promising to pay a certain amount each month for how ever many months were in the lease. You breached that written contract by not paying the monthly lease - Just because the car is taken away from you does not…
If you have someone else take over your car payments and they haven't made a payment in a few months can you legally take the car back?
No. Not if you signed the title over to the other person. If they don't pay the loan then your credit will take the hit. If the car is still registered in your name you can take it. If so, do you realize how risky it is to allow someone to drive a car that is registered in your name? You are responsible for any fines incurred, any damages in an accident, and especially if…
Is it considered a repossession if you take the car back before the first payment is due because the dealer lied about what he would do to the car and how many miles were on it?
You paid 11.75 over the regular price of 470 for a stereo system because of financing them for 2 months What was the annualized rate of interest you paid for the stereo?
Your car was repossessed after being six months behind and then you get a call from the car dealer after two years trying to repossess the car are you still liable?
Council Tax has a statutory right to payment over 10 monthly instalments if the first payment is due in April (i.e April to January) * . If you start payment later in the year then the number of instalments will reduce accordingly so a demand notice issued for payment in February or March will give only 1 instalment. A person also now has the statutory right to pay over 12 months instalments (from April)…
Yes, they will. Our company stopped payment on a check back in 2006. The person receiving the check said it was lost. The check was cashed one year later. The bank said the stop payment was only good for 6 months. If you put a stop on a check, either stop payment every six months or change your account. The check was a small dollar amount. What we learned - we have to go back…
What is you are making payment on the car and owe the dealership for something else can they repossess the car?
Yes and No. By "they", I'm guessing you mean whoever technically owns the car that you are making payments on, and is most often a bank/credit union. If you owe the dealership for a repair bill or something, it is separate from your car payment, and would most likely have no impact on your lease, therefore not be repossessed. On the other hand, if you owe money because you didn't pay your insurance (in a…