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The judgment creditor must be paid in full according to the terms of the judgment order. Most judgments are renewable and can remain on a credit report indefinitely until paid.

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โˆ™ 2007-09-04 18:57:45
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Q: If your vehicle was repossessed and you now have a judgment how do you get the judgment off?
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Related questions

Do you have to pay the whole vehicle off if it is repossessed?

Once a car has been repossessed, you as the owner of the vehicle have the obligation to repay any amount still owed on the loan. Once a car is repossessed, it is often sold in a repossessed cars auction by the finance company. The amount which the car was sold for will be deducted from the total loan amount and then the difference will be owed by yourself. So yes you would have to pay the whole vehicle off if it was repossessed.


What are the Texas vehicle repossession laws?

If i have a vehicle repossessed in the state of texas, is there anything that requires me to pay off balance after vehicle is sold at auction?


After a vehicle is repossessed and you pay it off in full when does the lender have to return the vehicle to you is it as soon as its paid off or can they take a few days to return it?

If the vehicle is paid it is yours you should not have to wait any amount of time.


Will you be notified where the auction of your repossessed vehicle takes place?

likely NOT. TFC uses a wholesale auction and you wont get in. If you want to redeem your vehicle just pay it off.


How long before you don't have to pay off a car that was repossessed?

The lender will pursue collections for any unpaid balance for seven years from the date the car was sold after being repossessed. If the balance is large, they may pursue legal judgment. Obtaining this, they will have ten years from the date of judgment or last payment.


After you buy a repossessed car does it stay marked as repossessed as long as it is driven even though it is paid off?

The car isn't damaged, the debtor's credit rating is. There is no permanent record of the car as a repossessed vehicle like there is for a salvaged title.


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.


In Florida if your divorce decree states that each party gets a vehicle but one party allows a vehicle to be repossessed how does the other party get their name taken off the loan?

you don't. you get the vehicle and the payments.


Do you have to pay the difference on a repossession car loan?

Not sure of your question. Do you mean do you still owe after the car is repossessed? Or do you mean do you have to pay off a loan to buy a repossessed vehicle? It depends on the state you are in, contact the lender.


After a car is repossessed what happens to the owner of the car does he have to pay it off or what happens?

The former owner of the car, now still owner of the DEBT, gets to pay the debt. The leinholder will likely get a judgment for the balance due and proceed to collect. Uless your name is 'turnip", you will pay.


Your vehicle was repossessed and sold at the auction after the fees you still owe 292 how will this reflect on your credit IF you pay it off?

It will show as paid or satisfied.


Can a paid off vehicle be repossessed over a repo fee?

no cos i aint tellin u u are an idiot find out in a book


How can you get your car back if you paid the car loan off but haven't paid the interest that occured over the years off and they still came and repossessed your car?

The car was repossessed one week before being off, now the creitor wants to charge me repossesses fees.


In bankruptcy is a judgment that was entered by a lawyer for a collection agency which resulted in a drivers license suspension a secured claim by the collection agency?

It depends on the judgment. If it is a Motor Vehicle Judgment it is not a secured claim which makes sense since they went after your license and not your assets. Sometimes these Motor Vehicle Judgments show up on your credit report and the only way to get it off is to settle the judgment or file bankruptcy. If it is not a Motor Vehicle Judgment it is most likely a secured claim.


If you had the vehicle repossessed and it is listed as a charge off can they now sue you for the balance?

Yes. What happens is that they auction the vehicle. They can auction a vehicle 10 days after they repossess it, not before. They take that money, apply it to the loan. Whatever balance is left is what you are responsible for. One thing you can question, is what the vehicle is auctioned for. They have to make every reasonable effort to sell it for book, they just can't sell it for $10 if it is a $10K vehicle, if you know what I mean. There are guidelines that they have to adhere to.


Can a vehicle be repossessed if the borrower does not make a good faith payment to the lender?

Most loan contracts state that if you are late, they can call the entire amount due. If that has happened and you have not paid off the vehicle, they can take back ownership of the vehicle. Your only option is to pay it off, sell it or turn it back.


Do you have the right to get your personal belongings out of your car after it has been repossessed and can you take your license tags off in the state of South Carolina?

You are allowed to remove personals that ARE NOT attached to the vehicle. The license plates stay with you, not the vehicle.


Can you get a reposession back after filing chapter 13?

No, once a vehicle is repossessed it is no longer your vehicle. The only way to get it back is to make some sort of arrangement with the financier for you to keep the vehicle. This is usually paying off the missed payments, or even paying off the full balance. What you have to do to get it back is dictated by the financier.


If your car is going to be repossessed is it legal for your loan company to report it stolen if they do not get your address?

yes You are obligated, under the terms of the original loan, to keep the lending instittion informed of your current address or where the vehicle is parked at night if it's not at your home. Once the lending institution has taken the paperwork to the courts and received a judgment, the vehicle is theirs and anything you do to prevent them from getting back their vehicle is considered theft. To save yourself a lot of trouble, just pay off the note and demand the title, or give them the vehicle.


Is a co-buyer responsible for paying off a loan if the buyer has no job and the vehicle was repossessed?

Yes, he or she would be equally responsible for the repayment of the loan balance.


Can a vehicle still be repossessed if written off?

Yes most likely. If the lender is still on the title, if not then they cannot, without some sort of court order.


In illinois isnt it illegal if a car is repossessed with the plates still on it?

No, if it was it would be impossible to repossess a vehicle because no one would ever take them off.


In California can a vehicle be repossessed if you only have 2 to 3 payments left on the loan?

Until you pay it off, yes. It is not yours until it is paid in full and the Lein Holder's name is off the title.


In California what happens if a vehicle has been charged off and it has been over a year and you still have it but there has been no contact or correspondence from the bank regarding a repossession?

It might get repossessed.


Is it a criminal offense to strip and sell parts off a vehicle before letting it be repossessed?

Yes. The charge might be grand larceny depending upon the value of the vehicle, amount received for the parts and other extenuating circumstances.