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If you cosigned an auto loan for your niece and she has defaulted can you repossess the car from her?
Ahendry
yes you may take the car back considering she defaulted on a aggrement between the 2 of you and the bank you are liable for any unpaid debts on the car therefor the car is yours as well....
Wiki User
∙ 17y ago
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What happens if my mom cosigned on an auto loan and I file for bankruptcy?
Your mom will be responsible for the debt and if she does not pay it could affect her credit, she could be placed with a collection agency or sued in court.
Can you default on an auto loan if there is a cosigner and you are the primary?
Well, you CAN default but the co-signer would then be completely responsible for paying the loan that you defaulted on. The co-signers credit will be impacted by your default and all subsequent collections.
How do you get your name off of an auto loan that you cosigned on if other party cannot get another loan and has nobody willing to take over as cosigner?
A cosigner cannot be removed from the debt obligation except by a refinancing of the loan without the original cosigner's participation.
If you default on your auto loan will you still owe money?
Yes. Not being able to pay a loan doesn't absolve you from it. They may repossess the car if the situation calls for it, but you'll still own any back payments.
Can you get a cash advance if you have defaulted on one in the past?
Since cash advance lenders typically don't require credit checks, they operate a database of names associated with defaulted loans. When a person who has defaulted in the past attempts to apply for a second payday loan, the database is triggered and the new, potential lender has the option to deny the loan. A large percentage of lenders will provide a second payday loan to a previous default because they can require that persons checking account be auto debited as payment as soon as a paycheck is deposited. Thus, lessening the likely hood of defaulting.
If someone cosigned for a auto loan and you defaulted can they all of a sudden place a lien on your house right before you sale it in 3 weeks?
yes they can do it
In North Carolina if you have cosigned for an auto loan and the loan is in default and the auto is damaged is the cosigner responsible for the damage?
No - just the loan. BUT! The seller may repossess and sell the damaged car for $500.00 to apply to the loan rather than maybe $2000.00. So it's about the same anyway. You lose.
If you cosigned for an auto loan and your name is on the title do you have a right to the auto?
Absolutely, name exists on title therefore you are part owner.
How do you repossess a car from someone who defaulted on a promissory note in a private sale?
A private auto sale is considered a contract. As such, if the buyer isn't paying as agreed, he's in breach of ths contract and subject to civil remedy, such as a law suit. Unless specified in the contract or allowed by your local law, you can't take the property back. That places you in breach as well and could be considered auto theft.
Can a buy here pay here auto dealer repo your car if it is less than 30 days late on a payment?
Read the contract you signed. They very well may be able to repossess the car if you are 30 days late. Depends on the contract and your state laws. Legally you have defaulted on the agreement if you are 1 day late.
If you have been served a notice of deficiency for a delinquent auto loan you cosigned on will the bank settle?
Make them a REASONABLE offer. All they can do is say no.
Can disabled people be made to repay defaulted auto loans or leases or voluntary surrender of a auto?
Disability does not negate the responsibility to pay for a loan. A defaulted loan can damage your credit and yes, the creditor still expects the money. Sometimes an attorney or Consumer Credit Counselor can help smooth the way when dealing with a creditor.
What happens if you were a cosigner on an auto loan but now your credit is terrible and you are in a credit consolidation program?
As far as the auto loan you cosigned for, nothing will happen as long as the person who actually borrowed the money makes the payments on time.
How long after non payment is lender able to repossess auto in the state of fl?
One day past the grace period is permissible.
What happens if my mom cosigned on an auto loan and I file for bankruptcy?
Your mom will be responsible for the debt and if she does not pay it could affect her credit, she could be placed with a collection agency or sued in court.
If someone cosigned an auto loan can someone else take over as the cosigner a few months later?
From my experience, you would have to re-finance the suto loan with the new co-signer.
Can they take income tax check if get repossession in Arizona?
They can take whatever the security for the loan was. For example, if you have an auto loan, they can repossess the auto. If you have a home loan, they can repossess the home. If the loan was a recourse loan and the value of whatever was repossessed was less than the amount still owed on the loan, they can get a deficiency judgment in a court of law. If the court grants a judgment, they can they take other assets.
