Did you give it back to the finance company? If you still have the car, job or no job, they will be expecting a payment every month. You may be able to call them and make payment arrangements with them.
Yes. If the payment is made to the finnance company.
The question is, "Why would you worry about a missed payment when you have interest in the vehicle?" The money that you used as your down payment and any payments you have made total your interest in the vehicle. Why are people running from the repo man when in fact you can place the finance company on notice that, if your interest is repossessed, you will file criminal charges in federal court against the finance company and get triple what the car is worth. I guarantee you they won't take it. You can also put a mechanics lien on the vehicle to protect your interest in it.
The car can be repossessed. The estate is responsible to return the vehicle and resolve the lease or loan.
Yes. the title to car car remains with the bank or finance company. Legally they can take possession for lack of payment at any time regardless of your wishes.
Boats can be repossessed due to non-payment or maybe the boat does not meet the requirements needed to sail. I would think it would be just like a automobile as far as finance goes.
Call the lender, and make some kind of arrangements. Do not let your car get repossessed. You will be responsible for the balance on the loan. no
If you are not in breach of contract (ie haven't been late in the past), then the finance company has no right to demand early payment unless the contract states this as a provision. If you *are* in breach, or have been in the past, then the finance company has some leeway -- a bit of "you violated, so we violate right back."
If they take the money then yes however they have the right to refuse the payment since you are in violation of the loan agreement.
can a finance company reposses your vehicle if you made your payment on the15 day
If your payments are current, they're not coming to repossess your car. Trust me, the finance company would much rather have your money than your collateral (i.e., the car).
If you're asking whether the vehicle can be repossessed for non-payment, it can, regardless of who's supposed to be making payments. Whoever appears on the contract or paperwork for the car is responsible for the payment, regardless of what informal agreements may be in place.
Generally a month. Sometimes if you ask your bank or finance company to defer the first payment for an additional month they will.
Yes. Well, maybe. Your are legally responsible for payment of the remaining balance of the loan for seven years from the last date of payment. In the event a judgment was obtained, you are responsible for ten years after the date of last payment. Quite likely, there is a judgment, as this would be the only security the lender has of receiving payment.
The car dealer is not required to collect a down payment. The finance company is the one who usually asks for it. If they desire a down payment, they will contact you to get it.
Depends on the company. Average 2-6 months.
If the vehicle is repossessed the borrower will be responsible for the deficiency between the sale of the vehicle and the balance of the loan. If an equitable payment agreement cannot be reached by the lender and borrower, the lender can file a lawsuit for monies owed and if successful execute the judgment against any non exempt property belonging to the debtor.
No, They would have to be behind on the car payment The above is not always the case. It can depend on what the car was impounded for. If it was impounded for something like drugs where asset forfeiture comes into play then yes the finance company can take the car regardless of payment status. The reason for this is because there are times when the authorities will tell the finance company that if the vehicle is returned to the registered owner the finance company will lose their rights to it as well. The finance company does not have to hand their collateral back to you if it means loss of collateral, it is their car after all.
Depending on your contract with the lender or repossession forwarding company, they could be responsible for the storage fees and recovery costs. Ultimately the car's owner is responsible. If the fees have not been paid and you feel they will not be, and you have not released the vehicle yet, do not release it. The vehicle is the only security you have against payment.
Very little ! If you default on the payments, the finance company are quite within their rights to confiscate the vehicle. The camper does not become your property until you have made the final payment !
If there are two individuals listed on the title of a vehicle as primary and joint, they are both responsible for the payment of the loan. If the primary defaults on the payment, the joint owner is responsible for payment. If both parties default, the vehicle can be repossessed.
NO, you owed it, you sent it in and its gone now. sorri
Assuming you're referring to a car payment, you can add it to your case before discharge, or you can reopen your case and include the automobile finance company. Keep in mind, however, that if you're filing Chapter 7 and your car is collateral, it can still be repossessed.