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If you have not paid the full down payment can you take the car back without it being considered a repossession?

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2015-07-15 19:36:02
2015-07-15 19:36:02

Rachelle, try to make a deal with the lender to return the car without the repo. At least ASK them to do it. It is their choice.

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Repossession can happen any time after a payment goes late; it all depends what the initial contract states.

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You should contact the lender and try to work out a payment plan. Lenders will use repossession only as a last resort, so there is a good chance you can get something worked out.

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They can if they have an order for repossession. You can ask to see the order, and if they do NOT have the order, then they can not take the car. The repossession would become invalid without the order to take the car.

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The majority of states allow for a repossession as long as there is no "breach of the peace." There are a few states that require a Right to Cure letter being sent out roughly 20 days prior to a repossession. You need to check your state law.

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Yes. When the vehicle is repossessed it no longer belongs to you and there is no requirement to tell you where it will be stored.

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This might help you to visualize this better.Let's say the car payment was due on the 10th of the month. At midnight, you still have not made that payment, and at 12:01 am on the 11th, the repossession agent hooks up to your car in your driveway and drives away. No, it is not against the law, PROVIDED:The lender has contracted the agent to recover the vehicle.The lender has provided a legal order of repossession.And, the repossession agent has followed the repossession and collection laws of the US and the state.It is not likely that this would occur though. The logistics of the situation take time. This is part of the reason most lenders have a five to ten day grace period.The more likely scenario is that the payment was due on the 10th, was not paid, the five day grace has come, and the payment has not been made. During the five days since the 10th, the lender has contacted the repossession agency, has sent them an order for repossession (electronically), the account has been entered into the repossession agencies system, the account has been assigned to an agent, and at 12:01 am on the 16th, the repossession agent secured the car in your driveway and affected recovery.Your car being repossessed is not the fault of the lender or the repossession agency in most cases. In the majority of cases it is the fault of the borrower, either from personal failure or unforeseen circumstance.

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In the USA you cannot be sent to prison for non payment on bills, unless the debts were obtain thru fraud. But you can be sued in civil court.

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The tow/repossession company has to notify the police of the repossession so the car can't be reported stolen..

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After a repossession, you will need to pay a fine usually. For example, if this was a car being repossessed, you would have to pay a certain amount to get it back.

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Yes, by contacting your bank branch and request them to stop the payment of cheque, by giving them the cheque no. and telling the amount and the name favoured.

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Yes. It is perfectly legal for a repossession agent to take possession of a vehicle when they are acting on behalf of the lender. The repossession agency does not have the option of allowing the borrower to retain the vehicle even though proof is presented that payments have been rendered. Such issues are strictly between the borrower and the lender. The lender and/or court being the only parties that can rescind the repossession action.

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They can only take whatever it is they have an order of repossession for - if the trailer is not included in their order of repossession, they cannot take it.

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The length of time that a car payment can be late without being repossessed will depend on the bank or car dealers agreements. Payments made after a month may be in jeopardy of being repossessed.

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No you can not "legally" hide a vehcile being sought for repossession. In most states you can be charged with a felony for hiding one.

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Being in the military is not bar to repossession of a vehicle

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In the US, non-payment of child support can be considered a criminal offense, though technically you are being imprisoned due to contempt of court for disobeying the court order.

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Depending on the state you reside in the procedure in order to get a repossession stopped is difficult. One of the few ways to stop a repossession is if a "breach of the peace" were to take place such as your car being in a locked garage or a threat of force was issued.

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The order of repossession is their authorization to enter the car. If your car is being repossessed, it means there's a lien on it, and the lienholder called for the repossession to be carried out. You don't own the car - the lienholder does, until you pay off the lienholder and they relinquish the title to you. So yes, that tow company doing the repossession has every right to enter the vehicle they're repossessing.

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no such thing! sorry! by cosigning a loan you are gaurenteeing payment therefore you are responsible for the loan if the original signer defaults every late payment and every on-time payment effects both parties either positively or negatively

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You being arrested has no bearing on your loan. As long as you make the payments on time there will be no repossession. The loan company does not care if you are in jail as long as they get their money.

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Well, first, you'd have to explain how the repossession was illegal. There really isn't any such thing as "illegal repossession"... repossession is a legal process by which a lien holder can recovery property which does belong to them in response to a delinquency of payment or violation of the contract.A vehicle which has no grounds for repossession but was taken was not repossessed - that's theft, plain and simple, and if that's the case, then you'd file a police report, an investigation would commence, arrests would be made, and you'd either recover your vehicle or get an insurance payment if the vehicle was unrecoverable. I'm guessing that's not the case, since you're asking this question here.State laws on time which a delinquency must continue for before seizure of assets can be made varies by state... if this law was violated, then you're going to have to lawyer up and take the legal route against the lienholder (the repossessor is not liable in this instance, as they are contractors following the instructions of the lien holder).A criminal act on the part of the repossession agency has occurred if...A locked gate is breached in the course of the repossession.A secured building is unlawfully entered in the course of the repossession.A vehicle other than the one being repossessed was entered without permission during the course of the repossessionProperty damage occurs during the course of the repossession.In the case of a commercial vehicle, a cargo payload is taken with the vehicle.A trailer attached to the repossessed vehicle which itself is not up for repossession is taken with the vehicle.In those instances, a police report needs to be filed. However, if the repossession itself is legit, that still won't get you the vehicle back.

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By taking it without being evaluated and prescribed by a doctor. Taking Methadone without a doctors prescription is considered abuse.

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Get yourself a business license and some clients.

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With the market being so low it is very hard to get that kind of credit without a large down payment. Good luck!

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It depends on what you want to say. The article "a" places the focus on the specific payment being made, usually in a series of payments: "I made a payment only yesterday!" "I make a payment only when I think of it". Without the article, the focus is more diffuse, more general, and may even imply full payment: "You should make payment immediately." "I made payment as soon as I received the invoice." As is often the case, though, there is no hard-and-fast rule about which should be used when ...


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