While most creditors will allow you to have your vehicle voluntarily repossessed, some lenders will not accept them. Your best resolution in this case is to contact the finance company and determine why they will not collect the vehicle. Ensure that they are indeed accepting the voluntary repossession. You will still be required to pay the remaining balance unless you are told otherwise.
Instead of having it forcibly repossessed, you call your finance company and tell them you're voluntarily having it repossessed. They may send a tow service to collect it, or they may ask you to take it to the repossessor. It'll be repossessed, auctioned off, and the amount they get from the auction will be deducted from the amount you owe. The finance company may offer a settlement at that point for an amount less than what you owe on that vehicle - that's up to the finance company.
Have the car voluntarily repossessed. Using this option means that you voluntarily return the car to the finance loan company if you are too far behind on your payments and can't recover. If you decide to return the car, the finance company may pick up the vehicle or it may require that you return the car to its location.
No, what will happen is this: the finance company will pay off the mechanics lien (usually) and tack that on your loan balance, it would be considered a repo fee.
The best way to find out is to READ THE POLICY. What does it cover?? Was it GAP insurance or regular auto ins.? Ask your ins. agent to explain the coverages.
Jam Recovery Inc.
Some do, most do not.
Yes. If the payment is made to the finnance company.
dissolve a company, by the court, or voluntarily or the by the supervision of the court
You can be sued by the finance company to recover any money still owed to them after they auction the repossessed mobile home.
A motorcycle that was paid for on a credit card can not be repossessed considering the credit card company paid the dealer. You must pay the card company back though or they can take you to court.
No Way. Its Your Stuff !
aegis ,out of st. Louis mo. used to
If it was repossessed legally then he is guilty of theft
Pay the company for the car, like you should have during the time you had it.
Call your finance company.
They can keep the money you already paid.
Contact a local repo company they will tell you what you need.Good Luck.
If your was repossed you need to call the car company and pay your car
no, they will sue you for the balance owed after the sale
Unless the credt card company is the lienholder on your vehicle, no.
You do not want your car repossessed for any reason! it will ruin your credit, you will still have to pay for it once it sells for less than what you owe at auction, and eventually a repossession catches up to you! What you can do to save your car is contact *CAR HELP USA* tHIS company will lower car payments, lower interest rates, get you current with your auto loan, stop repossession, refinance, and save your car! You will need to act quickly as a volunrarily repossession does not answer ANYTHING!