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If you cosigned an auto loan for your niece and she has defaulted can you repossess the car from her?

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βˆ™ 2006-07-26 11:02:41

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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....

2006-07-26 11:02:41
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Q: If you cosigned an auto loan for your niece and she has defaulted can you repossess the car from her?
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Related Questions

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.


How many payments can be missed on your auto before it can be repossess in OKLAHOMA?

That's dependent on the conditions of your loan. Realistically, they can legally repossess it after one payment is missed, if those terms are stated on the conditions of the loan.


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.


Can a creditor put your auto in stolen status in attempts to repossess in the state of Oregon?

NO, you cant steal your own car. You might ATTEMPT TO HINDER A SECURED CREDITOR.


How do banks get their money back when they repossess an auto?

They sell the vehicle for what they can, then charge the remainder to you. They usually sell that debt to a collection agency, and the agency starts calling you for that money.


Your niece drove into your garage door w her car and did 1k damage to the garage should your niece claim it on her auto policy or should you claim it on your home insurance?

Since it was caused by the vehicle, the vehicle insurance should cover it. Most home owners insurance companies would probably make a claim against the auto insurance company, if they covered it.


What happens to your auto loan when you stop paying on it for a long period of time?

You start getting letters from a collection agency then guys like me buy out your contract & repossess you if and when seen.


If I take an auto title loan can I keep my car?

Yes. However, if you default on your loan, they are legally entitled to repossess and sell it. Always be careful before committing to anything!


Defaulted auto loan and finance company does not want vehicle back how do you get the title?

If you have defaulted on the loan, you must sell the vehicle, pay off the loan you have, receive a lien release on title from the loan company and sign it ovet to the buyer. This is bad situation as most people will not pay for a vehicle with out receiving the title at the time of purchase.


Can a auto dealership remove home furnishing from a cosigner home on a defaulted loan?

Not without a court judgment and a Sheriff Deputy present. If they try otherwise, call the police and have them arrested for trespassing.


What kind of Auto loans are considered high risk?

High risk auto loans could refer to the driver signing for the loan or the type of vehicle that is being purchased with the loan. If an individual has defaulted on a previous loan they may need to have a co-signer guarantee payment.


Can they still repossess your car if you get caught up on the payments?

Depending on the state of residence, it is possible for a lender to still repossess your car if you get caught up on the payments. Certain states allow a lender to request full payment of an auto loan when borrowers fall behind, even if they have caught up on past due payments.


Can auto repossession be negotiated?

The company repossessing the car has no authority to negotiate terms with you. They are simply there to repossess the car. You must negotiate with your lender. Hopefully, you will do this before the the repossession order is submitted by the lender.


How does primary buyer repossess auto from co-buyer who is hiding car?

Call the police and tell them that the co- buyer is not agreeing to the terms of use of the car when said car was bought.


If you cosign an auto loan for someone and they refinance in one year and remove you from the loan how will that affect your credit assuming all payments are made on time?

The cosigner's credit isn't affected one ioto unless the person who was responsible for the loan payments defaulted, then and if the cosigner also defaulted. In other words, just being a cosigner does not affect ones credit ratings.