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Likely you will have to pay the loan off after the lender sells the car. lenders have some legal options that will collect from you.

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โˆ™ 2015-07-15 19:31:00
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Q: If you purchased a vehicle for your son in your name and it is repossessed what will happen to you after the car is seized?
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If property has been seized before filing bankruptcy does stay apply to said property?

It depends on the nature of the seizure. A repossessed vehicle has to be returned i it has not been auction to a 3d party. If money was seized by a tax agency, maybe.


Can a paid off car be seized for debt?

In some cases yes. If the vehicle was purchased using the same lender against whom you have defaulted with a different loan, and there is a remaining balance after the repossession of that property, then the court can order a Conversion of Collateral, and the paid off vehicle can be repossessed by that lender. Additionally, if the court chooses, real property can be ordered liquidated to pay a bad debt.


What rights do you have to the personal effects in your car after it is repossessed?

You have the right to reclaim personal property during the normal business hours of the establishment where the vehicle is impounded. The company storing the vehicle must take inventory of and proper protection of such property under the "in bailment" laws of the state where the vehicle was seized.


Can a car that a husband used as collateral to buy a van that was repossessed be seized by the lender if the car was awarded to the wife when the couple divorced?

You will have to take it up with the bank who repossessed the van. Since the car belongs to you, they should not be able to take it away from you. The laws may vary state-by-state. Talk to your divorce attorney to be sure you are protected. * Legally the vehicle could be seized if a deficiency remains after the repossessed van has been sold. This is possible because the transaction was made during the marriage and terms included in a divorce have no bearing on valid lending agreements.


Can your vehicle be seized for evading arrest in the state of Texas?

Yes


Can you get your vehicle back after it was seized?

yes after 4 or 5 days


Where can a person go to find information of seized vehicle auctions?

There are a number of online sites which contain information about seized vehicle auctions. The web domain "PoliceAuctions," for example, is a good resource.


If you have a judgment lien can your car be repossessed?

If it's the owner of your car loan and you defaulted then the car can be repossessed. If you have a judgment against you for any other debt then yes, if you own a car it may be seized by your creditor to cover the cost of your debt.


After drugs are found in car who gets to keep car?

The police officers now are responsible for keeping that car since that car was found with drugs inside it.Added: It depends on WHY the vehicle was seized. If it was seized only for evidence, you should be able to get it back after the court action has been completed.On the other hand - if the vehicle was seized under the authority of federal law, it is gone forever and the agency that seized it will get it, if they want it. If not it may be sent to auction and the agency that seized it will get the proceeds of the sale.


How are vehicles seized by police?

Depending on the state a vehicle may be seized by police if a warrant has been issued for such, if a driver of a vehicle has been arrested, if a K-9 has indicated narcotics may be present, and multiple other reasons varying by state.


You drove to Canada from the US for a visit and have decided to stay and you are a Canadian citizen what do you do about the car will or how will it be repossessed and can I be arrested or sued?

Depending on the Province in which you'll be living, you have varying times to register your vehicle in Canada. For most, it is 3 months or less. Before doing so, you must pay any duties or taxes as if you were already living here and importing a vehicle. 5% GST (and 7% Duty, if applicable) is calculated based on the cost of the vehicle when it was purchased NEW...even if you bought it second-hand. Failing to pay the import costs upon establishing Canadian Residency is an offense. Your car could be seized and you could be charged.


How do you get car back after police seized it?

If it's impounded, you have to pay the impound fees and reclaim your vehicle. If it's been seized as evidence, it won't be available until the case is closed.

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