Read the contract again. What part of it are you in DEFAULT on? There is a clause in most contracts that says the lender can accelerate the balance due for a number of reasons.
The title is only released when the debt or loan is paid in full. If you want the lender to pick up the car, I'm guessing that you can't or don't want to make the payments. The lender can refuse to pick up the car, but, if the debt remains unpaid, they will probably have the car repossessed which will negatively affect your credit rating.
Up until the day they sell the car. As long as you pay the repossession fees and make up all back payments plus any administrative charges. That is if the lender agrees which they do not have to do. You broke the contract when you failed to make the payments on time so they can refuse the payments and sell the car.
You should find the sales receipt. It might state on there what will happen. Regardless, payments need to be made and you should tell the loaner that she is deceased. You might want to contact a lawyer to make sure things go the way they should. * If the vehicle was not part of the inheritance the lender should have been contacted by the executor or administrator of the deceased's estate. If the vehicle was part of an inheritance then the beneficiary may contact the lender to arrange refinancing or refuse the "gift" and allow the vehicle to be recovered by the lender. In either case, a family member cannot simply keep the vehicle and continue to make payments without notifying the lender.
Yes they can and yes they do. Often after the sale of a repossessed vehicle, there remains a balance due. Many debtors refuse to pay this believing the sale of the vehicle should be fair compensation for the debt. However, from the moment the contract is signed, the vehicle becomes simply a pawn in the game, a means to an end. That end is the loan contract. If the borrower defaults on the loan to the point that repossession becomes an option, the vehicle is only considered a means of recovering some of the balance owed. In rare cases, more than what is owed is obtained in the sale of a repossessed vehicle, and the debtor is due a refund of the difference. There are few debtors who would decline such. Why should the lender do so the other way?
They cannot issue a warrant to have you arrested for non-payment of your car loan. Worst case: They have sent a repossession agent to retrieve the vehicle but you have hidden it and he cannot find it. If you avoid repossession for long enough and refuse to cooperate, the lender may get a court order (writ of replevna) demanding that you surrender the vehicle. This order will be delivered by the county sherrif, not the repo man. At this point, you will either allow them to take the car or be arrested for contempt of court. It is about 30-45 days
Payments??YES. PAYOFF???NO My husband lost his job and had to take a different job making less money so our payments were late and the several were not made at all. At the time of the repossession I was in the process of trying to get a personal loan from a family member to just pay off what we owed. The vehicle was reposessed before I could get the money. The day after they took it, I called and asked what it was going to take to get my vehicle back. The woman was extremely nasty to me and informed me that with our payment history she was not going to give it back to me. She did not offer me a pay off amount or even let me get a word in. She had me in tears before she hung up on me. I could not afford an attorney so we just did nothing. The van has now been sold at auction. It sold for $1200 at auction. Now we are getting letters demanding the amount we owed plus $200 more even though they sold the van for $1200. I know they can legally expect us to pay for the amount of the outstanding debt, but I don't understand how they can refuse to let me pay before they auction it, then come up with a higher amount we owe than what was left on the loan AFTER they sell it. We couldn't afford to make the payments before and now I have used the personal loan from the family member to purchase a different vehicle. We have no money to pay for a vehicle we no longer have.......plus $200 more than we owed to pay it off. Is there nothing I can do?
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