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If your car is repossessed how do they go about getting the rest of the money from you?
Wiki User
∙ 12y ago
After the car is repoed, the lender will ask you very nicely 3 or 4 times to pay the balance on the loan. Each time they will remind you that they have other legal remedies to use to collect. If you cant/wont pay the balance due, they will use the other legal remedies. Those may include: getting a judgment against you for the amount due plus fees, garnisheement of your wages, attachment of other property that you own.
Wiki User
∙ 12y ago
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Can the lender collect the rest of the money you owe on a car that they repossessed?
In most cases, YES
Can your car get repossessed after bankruptcy?
not if you still owe money on it
In Utah can your wages be garnished for a car that was repossessed?
You do not owe money for a car if it has been repossessed, so your wages can't be garnished for that reason.
Can your car get repoed for getting a DUI?
Repossessed no. Confiscated yes.
Can you buy another car even though is repossessed?
If you have had a car repossessed, you have not kept up with the payments. You probably still owe money on the repossessed car. In these circumstances, the fact is that you can not afford to purchase another car and would not be able to obtain the finance to do so.
Can you still owe money after your car is repossessed because of the recall?
If it is repossessed, you will owe the difference between the loan amount and what they sell the vehicle for.
Can a car be repossessed when 1 payment is left?
As long as you owe them money they can take it.
Who pays the loan if a car is repossessed?
The one who BORROWED the money and/or the on who COSIGNED the loan.
If your car was repossessed a few months ago and you owe 12K on it can they take any money from an accident settlement you are due to receive?
Only if they know you are getting it and have a judgment against you.
Can your car be repossessed if there are children's safety seats in the vehicle?
Yes, it can be repossessed. If you owe money on a vehicle and do not have a clear title of the car - In reality, this car is not yours until the debt is paid. The car is collateral until your pay the loan off. If the car was repossessed, the personal contents like the car seat must be given back to you.
F a car was repossessed two years ago and you put an old car that a friend had on the road can they come after that vehicle for the money still owed after auction?
No. They can repossess their collateral (the car which was repossessed), and they can send a collection agency to hound you for money, but they can't confiscate your property.
What the procedure for getting your car back after being repossessed?
Contact the lender who repossessed the car. You will have to make up all back payments and pay all fees associated with the actual repossession.
