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If you default on a leased vehicle can the bank place a lien on your home?
Wiki User
∙ 14y ago
It is possible. While it is more difficult for a vehicle lien holder to extend a lien to other, unsecured property, it is possible with a legal judgment. It is much simpler for this to occur if the lien holder and mortgage holder ar the same. In situations such as this, it is a simple matter of cross colateralization.
Wiki User
∙ 14y ago
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Does a bank have to pay tickets on a car it has financed or leased?
No. Tickets must be paid by the driver or the individual leasing the vehicle, and not by the bank. However, once the vehicle has been repossessed, the bank is then responsible for the vehicle (including any tickets which may accrue).
When will rob Dydrek go bank rupt?
eventually if he stays at Dyrdek enterprizes, that place is leased to him for 25,000 a month!!!
Where is the best place to get a loan for a vehicle?
The best place to get a loan for a vehicle is a bank or similar financial institution.
Will the bank sue you if you foreclose on your home loan?
Yes, the bank will sue you if you default on your home loan and place your house in foreclosure.
Can a bank repossess if the borrower defaults and there is a cosigner on the vehicle?
The cosigner becomes the target next. If you default, it is up to the cosigner to pay the bill or both of your credits are ruined and the bank takes their usual steps to repossess a vehicle.
If you are in repossession status and are making efforts to pay on your late payments can they still repossess your vehicle?
Once the loan is in default the bank has the right to refuse payment and repossess the vehicle.
Can the bank repossess your vehicle if you are only 17 days late in Virginia?
Read your contract. Likely the answer is YES. As long as you are in DEFAULT, they can repo.
How long in the state of Texas before the bank can press the charge of unauthorized use of a motor vehicle on a car that is on the repo list?
The bank holds a lien on the title of the vehicle. If you default on the payments, they can reposses it. This is a civil issue, and is handled as such. Unauthorized use of a motor vehicle is a criminal charge which doesn't apply to a civil situation.
If you still owe a bank on a loan would you be able to transfer title to another state?
Sure. Just let the bank know where you're moving to and keep up the payments or they'll default the loan and repo the vehicle. (Repossess) That'll cause you serious credit problems and loss of vehicle that you still have to pay for. The bank will track the vehicle by the VIN (Vehicle Identification Number) and you'll end up with more headaches then the car is worth.
Can attorney place levy on bank account from default judgment unsecured credit account in the state of Texas in which the debtor lives?
Yes.
Can a bank or loan company repossess a vehicle if you are not 30 days late on the loan?
The simple answer is yes. However you should read thru your contract to see if you are in default, that would trigger a repossession. For example, one way to be in default is if your insurance got cancled.
Your son gave you a truck as a gift you are on the title vehicle is insured and registered in your name He is in default on his loan Can the bank repossess your vehicle?
If there is a loan against the car then the bank is on the title and they own the car, your name would be on the registration but not on the title, so yes they can repo it. If you have the actual title in hand then their is no loan on it and you own the car.
