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CALL the LENDER to find out exactly how much it will cost you. 4-9-623. Right to redeem collateral. 2. Redemption Right. Under this section, as under former Section 9-506, the debtor or another secured party may redeem collateral as long as the secured party has not collected (Section 9-607), disposed of or contracted for the disposition of (Section 9-610), or accepted (Section 9-620) the collateral. Although this section generally follows former Section 9-506, it extends the right of redemption to holders of nonconsensual liens. To redeem the collateral a person must tender fulfillment of all obligations secured, plus certain expenses. If the entire balance of a secured obligation has been accelerated, it would be necessary to tender the entire balance. A tender of fulfillment obviously means more than a new promise to perform an existing promise. It requires payment in full of all monetary obligations then due and performance in full of all other obligations then matured. If unmatured secured obligations remain, the security interest continues to secure them (i.e., as if there had been no default).

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โˆ™ 2015-07-15 19:13:49
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Q: If your car was repossessed this afternoon what are your rights and can you get the car back by making the back payments?
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Does a co buyer have rights to the auto loan payments?

The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.


Can a vehicle get repossessed if you are up to date on insurance and all payments?

Not usually, but extenuating or complicated circumstances might apply. I suggest you see a lawyer or consumer rights group (like the BBB).


What if you stop making payments on the vehicle?

It will likely be repossessed and sold at auction, if not redeemed, with the proceeds being applied against the amount owed and subsequest repossession, collections, and legal fees. Keep in mind that you signed a contract. That contract is legally binding, and in most cases, you agreed to suspend many of your rights to property.


Does a co-signer have legal rights to a vehicle if they have been making the payments?

Depeding on how the vehicle is titled you may have legal rights to the vehicle even if you aren't making the payments. However, in order to just get it titled in your name then you will need their consent if it's currently titled in both of your names. Very simple answer to all these questions. If your name is on the title, you can have the car. If your name is on the loan, you can make the payments. WHAT if BOTH names on tittle, reg and insurance, one is making payments but other is the strong credit that got bike and wants it back


In Texas what rights do you have if you sold a car to a friend who stopped making payments per a signed contract if the title is still in your name?

The title is in your name, so you hold all the rights.


Will your car still be repossessed if you are late two or three payments but pay up to date after you get the default letter?

Read that letter carefully. The one that I am most familiar with clearly states that you have 20 days to make any past due payments and if they are paid you may continue with the original contract, BUT if you become delinquent again, they may exercise their rights without giving you any additional notice. That means from now on you had better not miss any payments, not even by one day, or your car could be repossessed.


What can you do legally if your camper has been repossessed without anyone notifying you?

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 !


What are your rights to property in your vehicle once it is repossessed in NJ?

You rights are to GET IT BACK, PP is not subject to the security interest on the car.


How can a co-buyer take possession of a truck when the primary borrower is not making the payments?

When someone co-signs, they are basically just agreeing to making the payments when the signer can not. * Any legal rights that a cosigner or a co-buyer(borrower) have depend upon whether or not their name is on the title to the vehicle.


What rights does a cosigner have if they have been making the payments and their name is on the title?

If your name is on the title, you can take the car. Just make sure he didn't re-titled it after the split.


Does a finance company who has repossessed your vehicle have any rights to your new car that is financed by another lender?

No


What if bank did not notify you of the sale date on the repossessed vehicle?

They do not have to notify you. You have no legal rights regarding car.


If you are primary on a car loan but the secondary is the one actually making the payments who owns the car?

Both of you. The payer may have greater rights to the vehicle, but both of you legally own it.


If you only had one late payment which was 8 payments prior to your last month when the car was repossessed what rights do you have?

Read your contract. Basically, you have the right to pay the default amount, the repo fees, storage,ect and get your car back. UNLESS there are other defaults you forgot to mention.


When cosigning for a car and the person who is acquiring the car is the only one making payments whose name is the ownership of the car under?

the person making the payments is actually buying the car. it is illogical that a cosigner could claim any ownership rights, having paid nothing. the person having made the payments is the owner It depends on the title. If it is only your name then it is your's. If it is both names, then it belongs to both of you regardless of who pays.


Does having the title to a repossessed truck give you any legal rights?

NO, the truck probably has been sold already and the lender got a repossessed title to sell it with. Of course they do make mistakes. LOL


What are your rights if your lease car was repo?

If you have stopped making the lease payments, you have forfeited the car and you have no rights. Basically, by not making the payments, the lender believes you no longer desire to have the car and they will take it back and sell it to somebody that really wants that car and is willing to make the lease payments. Usually, any monies you paid during the lease are also forfeited ... you walk away with nothing, basically. Always always read ALL the fine print before signing any document. You may also be responsible for all the costs associated with the repossession, any damages and depreciation.


Can you get a dirt bike repossessed?

Yes. A dirt bike is the same as a street bike or any other type of vehicle. if you miss the payments, and the financier wants to exercise his rights to seizure, he can do so. If you are behind on payments the best thing to do is contact your finance company and explain your circumstances to him. There are probably options available to avoid repossession. The last thing any finance company wants to do is repossess their property.


What are your rights in Washington State after your vehicle has been repossessed?

Pay for the car and get it back, or pay the deficiency after it has been sold.


If your car was repossessed paid for and retrieved within 24 hours and now everything that was in the car is missing what are your rights?

sue them


Co signed loan my name is on registration can i take the vehicle?

You should seek legal advice from an attorney in your jurisdiction who can review your situation, examine the related documents and explain your rights and options. You may need to file a court action to have the primary borrower sign over their interest if they are not making payments.You should seek legal advice from an attorney in your jurisdiction who can review your situation, examine the related documents and explain your rights and options. You may need to file a court action to have the primary borrower sign over their interest if they are not making payments.You should seek legal advice from an attorney in your jurisdiction who can review your situation, examine the related documents and explain your rights and options. You may need to file a court action to have the primary borrower sign over their interest if they are not making payments.You should seek legal advice from an attorney in your jurisdiction who can review your situation, examine the related documents and explain your rights and options. You may need to file a court action to have the primary borrower sign over their interest if they are not making payments.


What are your rights as a consumer in the US as related to repossessions?

* You have the right to possess any vehicle you do make payments on or have paid for. * You have the right to retain possession of said vehicle provided you continue to make contracted payments toward the unpaid balance of the principle. * You have the right to have your vehicle repossessed if you fall delinquent on your vehicle payments to the contracted lender. * If your vehicle is repossessed, you have the right to recover any actual private property that was in the vehicle at the time of repossession. * You have the right to pay fees for recovering your property that was in the vehicle at the time of repossession. * You have the right to pay all unpaid balances and fees accrued as a result of the repossession process. That's about sums it up. I confess I did substitute "right" for "responsibility" in several places.


When is a repossession unlawful. my car has been repossessed 4 times in 2 months. each time before i can completely honor the agreement the dealer repose my car. i am making payments . and i do pay wh?

Payments must be paid on time when they are due. One must remember that it is not "your car" until it is fully paid for. Until then the outfit that lent you the money owns the legal title to the car. You are just the registered owner, not the legal owner. The legal owner has all rights to repossess the car anytime the payment is not made on time.


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 rights does a person have when personal items go missing from a repossessed vehicle?

First, you have the burden of proof it was in the vehicle. This is nearly impossible unless you have photos of it in there as they took it. Judges are not sympathetic to those repossessed as there are so many who claim valuables lost while in impound or when repossessed. You will likely not be paid anything. Sorry, but the way the cookie crumbles.