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If you do a voluntary repo and the dealership sells your car do they have any right to collect interest?
Wiki User
∙ 12y ago
The contract called for interest as long as you had the car. IF they get a judgment for the balance owed on the contract, it will call for interest until it is paid. READ your paperwork.
Wiki User
∙ 12y ago
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If suing somebody can you collect interest on the money that they owe you?
The laws on collecting interest on a debt will vary by state and may be governed by the terms of the agreement, if any. However, most states do allow you to collect prejudgment interest and have it added to the judgment if the case goes to trial.
What terms means a voluntary abandonment or extinguishment by a party of a legal right of advantage?
Voluntary abandonment or extinguishment of a legal right by a party to an action means that they waive that right. In other words, they are giving up that right,
Can car dealerships transfer your vehicle to you?
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Does a car dealership need to state in their contracts anything about repossesion?
First, the loan contract is not with the dealership. The dealership only represents the lender in the transaction. Second, if the lender hopes to protect their interest, then the contract will state "something" about repossession. In fact one of the papers the borrower signs will be a Right to Cure, meaning essentially the borrower is giving future permission for the lender or the lender's agents to enter private property to secure the unit.
Can a company who closes your account try to collect interest three years after closing the account?
Yes, if you still owed a balance at the time the account was closed. Just because a company closes an account does not mean that any balances that are owed to them disappear. If your account was closed and there was still a balance outstanding and you did not pay that balance, the company has every right to collect the balance and any interest outstanding.
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Finding the right used car dealership.?
There are many car dealerships that has used cars. If you visit any car dealership, they have a new car section and a used car section. All you have to do is make an appointment and visit the dealership.
Is there a right of rescission on car purchases in MN?
No. The only time there would be a consumers' right of rescission is if the dealership contacted you at your home, brought the car to your home and signed the paperwork in your home. If you traveled to the dealership under your own free will, there is no right of rescission on the purchase of an automobile in the State of Minnesota.
Can a dealership repossess your car if they are not the lien holder?
No. The lienholder is the only entity with a right to repossess.
What does volunary mean?
You mean voluntary right?It means willing to or optional. It means pertaining to, and undertaken.
What is the definition of voluntary trade?
Voluntary trade describes a market where buyers and sellers have the right to sell and buy by their own preference or refuse to if they so choose. Voluntary trade also describes a person's freedom to choose to work for compensation versus being forced into labor.
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