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If your car is going to be repossessed is it legal for your loan company to report it stolen if they do not get your address?
Wiki User
∙ 18y ago
yes You are obligated, under the terms of the original loan, to keep the lending instittion informed of your current address or where the vehicle is parked at night if it's not at your home. Once the lending institution has taken the paperwork to the courts and received a judgment, the vehicle is theirs and anything you do to prevent them from getting back their vehicle is considered theft. To save yourself a lot of trouble, just pay off the note and demand the title, or give them the vehicle.
Wiki User
∙ 18y ago
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What if your car is about to be repossessed but it gets stolen who is then responsible?
YOU are responsible for the debt that is secured by the "stolen" car. Be sure to make a police report on the 'stolen" car.
Can a person who holds title to a vehicle have it repossessed from someone driving it as a loaner?
Report it stolen.
How do you know if your car has been stolen or repossessed?
RepossessionCall your local dispatching service for your law enforcement. The Repo man is required to report the repo immediately to them. You could also call the bank or company that has financed your loan. In Illinois, we are required to report repossessions immediately to the police. In some cities, the police want to know BEFORE we repossess. So when you call your local P.D. to report your car stolen, they can let you know if the car has been repossessed.
What can i do if i am listed as a cosigner and my spouse took the car and left the state?
i would report it stolen. if the payments are made the loan company can and probably will come after you for the money. If you report it stolen to the cops you can at least report it to the insurance company and the loan company and that should remove your responsibility.
Who to call if your car was impounded?
Call the police department of the city/town from which the vehicle was towed. Repo companies MUST report the license tag number of repossessed vehicles so that if the owner calls to report them stolen the police will not enter them into the stolen vehicle database.
Can you register a car being repossessed?
The tow/repossession company has to notify the police of the repossession so the car can't be reported stolen..
What are your rights when it comes to a car that just has a payment for half of the remainder owed and the private party it was being bought from has repossessed it for personal reason?
If the repossession occurred in a state that does not permit self-help repossession, report the car stolen; it cannot be legally repossessed. Louisiana and Wisconsin are two of these states. If you can show legal possession of the vehicle, and on time payment, report the car stolen. It cannot be legally repossessed in any state unless the debt is delinquent. If you do not wish to involve LEO's immediately, contact the private party who "repossessed" the vehicle and explain that if it is not returned within a reasonable amount of time, that you will report the vehicle stolen and give his name as the party responsible. There is no legal "personal reason" for repossessing a vehicle.
Can a finance company report a car stolen if no payment has ever been made?
No
Whose insurance company do we report to if the vehicle that was stolen was borrowed from a friend?
You should report the theft immediately to the police and to the car owner's insurance company.
How do you know if your car has been reported stolen by the lender?
ask a cop to run the license plate on their computer If it is still in your possession, it has not been stolen and anyone who files a police report saying it has been is commiting a crime. However, if it has already been repossessed and disappears from the storage lot, it HAS been stolen and the lender or repo agent will report it.
They repossessed my truck but are now saying they didn't what can I do to prevent myself from going to jail for hiding a truck I know they repoed?
If you aren't hiding it and they didn't repossess it then it has been stolen. Call the police and report that your truck has been stolen.
Your car was repossessed with your belongings in it Can you consider them stolen and call the police?
You can. They probably won't do anything. Call the loan company to see where you can get your things or they will mail them to you.
