http://www.panhandlerecovery.com Barry can likely help you Did you have a contract signed between the two of you? Did it state that you could repossess it if they didn't make the payments? If not, you probably need to go visit the courthouse and prepare for a lawsuit against the person you gave the car to.
depends. but contract is better than no contract
If someone has a loan default statement, it means that the person who took out the loan has not met the terms of the contract, for example they have not met the payments. If this happens then the person who gave out the loan and who the debt is loaned to can take action to recover the money, for example re-possession.
If a contract was signed, then they need to be taken to court for the amount owed.
It depends on the type of contract. Bankruptcy does not allow someone to skip child support or separate maintenance payments, but other contracts, such as revolving debt accounts are terminated. Be more specific.
No. You are not entitled to a refund if you made payments toward the purchase of a vehicle. In truth, if you signed a contract to purchase the vehicle, that vehicle is now secondary to the contract, you could still be held responsible for the balance of the loan, whether or not you still have the vehicle.
Sue her...Or try to talk to her.
You could be held liable for the payments if the other party defaults. Your signing the contract is "insurance" for the lender that payments will be made, and they will consider you responsible if the primary party defaults.
You would have to read the contract to see if someone can "legally" repossess it. But ultimately, there is someone, somewhere who makes a decision. This person can continuously let is slide, or they can just get fed up one day and take, or have someone take your car. They also know that if you cannot afford payments then you will definitely not be able to afford back payments, penalty payments, and current payments all at the same time. Nor, can you afford an attorney.
It would be the previous owner's loss.
Yes, all the bank cares about is that someone is making the payments.
yes, but you cannot sign a contract (so, you cannot buy a car from a dealer, or used car dealer without your parent).
From my Experience All you really need is a written Contract on the said property, Dealers, Used car lots, and Banks register the property financed so it shows the lien on the title. Private sales with money owed if you have a written contract you can repossess on site. if this is an oral agreement, You will have to go through the small claims division of the county courts