I would have to agree with previous note. I am going to assume that you are the one hiding the vehicle. People like you just don't get it. Finance companies like the one I work for are gonna get you directly or indirectly. Go ahead and hide the vehicle. Let the finance company charge it off. Then go and try to buy a home or re finance the one you have. Your lender will either make you pay off the loan or roll it into your refi or jack up your intrest rate and maybe add points. Go apply for a credit card and see what kinda intrest rate you get if you get approved. Have alittle fun...Go and try to register the vehicle. Thinking about bankruptcy? You can get some what normal credit after 5 yrs now. The first 5 yrs depending on you will be spent on higher intrest rates on everything. Do the smart thing and return the vehicle or arrange for it to be picked up. Let it goto auction and see what remaining balance you have left and make arrangements to re pay it and move on......Just a thought
Hindering a secured creditor means hiding or concealing property that is theirs. It can also mean not releasing information about a debtor that you would know.
I am not sure how it is for each state, but I do know that in the state of Tennessee it is a Class E felony and warrants can be served if everything meets the criteria of "Hindering a Secured Creditor".
A secured creditor
Yes, in Connecticut it is a basic form of fraud instead of specific (Other states name it as a separate crime; Hindering a Secured Creditor): To hinder, defraud, or unlawfully delay possession by a secured creditor; is a basic act of fraud.
whats the penalty for hindering in kleberg county
You can, but you may find yourself in court or jail - some states consider that "hindering a secured creditor" and that means jail time.
A secured creditor is one who has a contract with you that says if you fail to pay, the creditor can take a specified item you own to satisfy the debt. Most common are purchase-money loans, such as mortgages or car loans, but it can be any item.
In law 48, what is a creditor? Is law 48 fair to creditors?
Repossess or foreclose on the secured property if the agreement is in default.
A creditor cant take you to court over a secured debt. However, if they have a security interest in any of your property, they can still foreclose on that property.
Yes. It's called hindering a secured creditor. Sometimes, depending on the value of the vehicle, it is a state jail felony. It's in the Texas Penal Code under fraud.
If you signed a Security Agreement, then your creditor has a secured claim on the collateral specified in the agreement.
This is not a question. If your question is, "What happens when the trustee moves the Court to declare a secured claim withdrawn," then one should object, particularly if the secured creditor still has a claim. If this is chapter 7, a secured creditor has no claim except on its collateral. In chapter 13, fight for your claim.
A creditor is a person or organization to whom one owes money. A secured party creditor is one who has a lien on tangible property, such as a car or house, until the money is paid back.
When there are two secured parties claiming security interest in the same collateral, the creditor that is perfected (having filed a financing statement) will have priority over the interests of an unsecured creditor or unperfected secured party
NO, They might , IF they wanted to go that route, charge you with "hindering a secured creditor" if you wont give up the car. No this is a civil matter you will not be arrested for ANYTHING related to not paying your car loan.The above poster is wrong he is a repo guy who tells people these kinds of things to make his job easier.
Maybe, it depends on whether or not the debt is secured and the secured amount. If you own it free and clear, and is very valuable, it will be seized and sold by the trustee. If there is a secured creditor, but the claim is small and the car value is great, it can still be seized, with the secured creditor paid off, you receiving the exempt amount, and the remainder to pay off creditors.
A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan.
NO, you cant steal your own car. You might ATTEMPT TO HINDER A SECURED CREDITOR.
In a Chapter 7 bankruptcy, a secured creditor has the right to repossess any secured property and sell it. However, if the car does not bring enough at the sale to pay off the entire loan and cost of repo, the automatic stay prohibits the creditor from pursuing this deficiency balance.
Being a secured creditor will have absolutely no impact on a child custody case.
Secured debt is a debt that is guaranteed by the use of collateral. If the debt is not repaid, the creditor has the right to take the collateral from the borrower.
Actually, a secured creditor only retains priority if they file a claim.
It should, since specific property is contemplated as security for the loan. The burden might be on the creditor to prove in court that such a loan existed to establish his claim. Written loan agreements setting forth the security interest of the creditor in the stock should be sufficient, if signed by the debtor.