answersLogoWhite

0


Best Answer

Brand, You COULDNT trade so you bought 2 more vehicles?? Is that correct?? IF so, you BEST move would be to sell the upside down car and put whatever you have to with what you get from selling to PAYOFF the loan. Sounds dumb huh? That is the CHEAPEST way out and keep good credit. Anything else will be MORE money AND collections. Collections usually include garnishment of your wages. If you know getting upside down was not smart, then you know this is the best way out. And please dont let a "friend" take up the notes. That only works in 1 out of 25000 cases. You'll probably be back in 2 months crying that your 'friend" didnt make the payments and "HOW do I get my car back".Please make the right decision this time. Good Luck

User Avatar

Wiki User

โˆ™ 2015-07-16 18:28:38
This answer is:
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
User Avatar

Add your answer:

Earn +20 pts
Q: If your car is repossessed what can they do to collect?
Write your answer...
Submit
Related questions

Can the lender collect the rest of the money you owe on a car that they repossessed?

In most cases, YES


How long can they try to collect money from a repossessed car?

Until the Statute of Limitations tolls on the judgement.


What are the rights of a person who Co signing a church car loan and the car is repossessed with the bank trying to collect?

I wish I knew


What will happen to a car once it is repossessed?

It will be auctioned off and the bank will want to collect the difference of what it sold for and what your loan was.


What happens if you get your car repossessed?

if i get my car repossessed, can they put a llien on the house?


How can you locate your repossessed car?

Your car was probably repossessed by the lender who owns the car until you pay for it. Call your lender and they will be able to tell you how to locate your repossessed car.


Can your car be repossessed due to no registration?

No, a car can not be repossessed due to having no registration. A car can be repossessed for non payment. The police can have a car towed to an impound lot if there is no registration.


Can your car be repossessed if you lose your job?

No, but your car can be repossessed if you don't make the payments.


Can a car be repossessed from a car dealership?

if the car dealership does not pay for the car in full or pay their bills then the car would most likely be repossessed


Can a car be repossessed with a person in the car?

No.


If your car is repossessed in Arizona can they collect any deficiency or is the debt forgiven when they take possession?

The debt is NOT forgiven. See link below. ArizonaRevisedStatutes


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?

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.


When a car is repossessed what do you do with the insurance?

When a car has been repossessed the person paying the insurance should cancel it.


If your car was repossessed and the lender sold it without notifying you what are your rights when they try to collect for the difference?

requirements vary by state. call a local attorney for guidance.


What happens to a co-buyer if the car is repossessed?

Same thing that happens to the buyer. Lender persues their legal options to collect the balance due.


Where do you get a car after your car was repossessed?

im sorry you can not


What happens to you if your car is repossessed?

You loose your car...


Can you have a car repossessed?

Yes


Can a transfer of responsibility be made after car is repossessed?

No. Your car gets repossessed, it's on you. You don't get to pass that on to someone else.


In Kentucky how many car payments behind do you have to be before your car is repossessed?

Your car can be repossessed if you miss one payment. Not likely they would do that but it is possible.


What do you do once your car has been repossessed?

I have a welding machine on the truck they repossessed can they keep that?


If you have never had a car repossessed you have had a house repossessed Can I still get a car loan?

Most likely not depending on what financial situation you're in.


Can a car be repossessed when another car is parked behind it?

Yes, a car can be repossessed even if another car is in front of it. The person in charge of repossession the vehicle can call the police to help them get the car.


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.


If a car was repossessed 12 years ago and it was reported on your credit but as been removed after 7 years can lawyers collect on this account after 10 years in West Virginia?

thnmn,