IF your name is on the title as co-owner as in (husbands name and/or your name) OR if you are the leinholder, you can take possession legally. Otherwise you better get to talking sweet to him and get possession if you are only a co-signer on the loan. Better yet, make contact with the lender and try to work it out so you dont get a repo on your CR. Good Luck
nothing you can do without a title in your name
Yes, if you are not making the payments the bank can repo your truck.
Yes if he didn't have anything to pay it off with when he passed away
Yes, your truck can be repossessed even if you are using it to earn an income, however, you can tell your creditor that you are earning money with your truck, and that if the creditor does not repossess the truck you will use that income to make payments on your loan. Of course, if you are not making payments, and spending all of your income on other things, then the creditor has no motive to let you keep the truck.
Uh yes. You no pay, truck get taken away. If you are having difficulty making payments try to negotiate lower payments. It costs a bank considerable more to reposses the car than to renegotiate.
The most common type of repossession notice when a person has not been making loan payments for a car or truck. If the lender does not receive payments, the vehicle may be towed away.
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.
Then ask him? If he transferred the truck title to someone else, it's no longer his title. If he's still making payments on the truck, then it's the financier who holds the title. If he put the truck up as collateral for something, then they're the ones with the title.
Wow...it's good to know I am not the only one! I co-signed for a truck and we got divorce. He was awarded the truck and was to put it in his name. He never even attempted to get a car loan in his name! He did not make payments and they repo'd the truck. They could not find it and since my name was on the loan (lease) first they called me. I actually tried to help them located the truck. Finally, after 4 months they got him. Trust me, they will find him!
Yes you are