If the lender is "trying" to repossess the car now, wont they be "trying" to repo the car then also? How long do you plan on driving the car for free?? Just keep on hiding the car until you get a chance to pay on it.
thank you roosta-i see that you respond to a lot of posts here. i just wanted to make sure that i wont have the police knocking on my door. I didnt know they could start repo action without notifying you. I am also not driving the car for free. I was garnished and didn't have the money. The garnishment has ended and i can now pay them what i owe on 11/11/04. i just thank god that I am not one of the people whose couldn't pay because they were unemployed. i tried to talk to the people at my finance company but they didnt want to talk so i stop trying to talk to them. i sent faxes to them and text messages to the repo guy who showed up at my job. Don't know if that is legal or not but I am not going to worry about it for now. I pray that I will never have to finance a car again as this has been one of the worst experiences of my life.
A dealership can only repossess your car if you do not pay in accordance with the sale agreement. If you did not pay the agreed down payment, the car may be repossessed.
If you do not make the payments agreed to in the contract, on time, the answer is yes. if they agree to accepting a payment get it in writing ,then you have them.otherwise your screwed they will lie and tell you anything to get the car If it ain't in writing it ain't no agreement.
If you continue to make payments as agreed, on time, you should be safe from repossession.
i think so:D
so you told me something you didnt ask what you wanted to know maybe you should re type that....
it means: sale agreed subject to contract - as in the sale of a property where the sale has been verbally agreed and simply awaits the formal signing and exchange of the legal contracts
Mike, READ the contract you signed agreeing to do certain things in exchange for a car. What does it say about if you are in DEFAULT? If you dont perform any one of the conditions of your loan, they you are in default and can be repoed.
Any of their lakes!agreed!
Everything agreed upon should be in written form and in specific terms. Such as total amount, date for payment, method of payment, etc. DO NOT sign anything that is not clearly understood. DO NOT verbally agree to anything. Only supply needed contact information not bank account, financial status, etc.
Yes, if you have agreed that the house will be used for collateral.
A contract is usually something that is signed and dated and legally binding. A commitment is just something that you have verbally agreed to do.
I guess the lender could make a mistake on the amount and have to correct themelves. Verbally abuse you?? NOT. Call a local attorney for state specific advise.
An verbal agreement is something two or more parties have agreed to do, agreed not to do or an arrangement made verbally and not in writing. In some jurisdictions a verbal agreement can be binding if there are truthworthy witesses to it, in other jurisdictions it may not be binding.
Not without a court order.
Whatever day you agreed upon when you signed the loan agreement.
Only if you have failed to make the agreed payments on time.
The Atlanta Hawks have already verbally agreed to signing him this upcoming offseason behind the scenes. #watchforit
Have the collection agency send a written agreement accepting the settlement or payment amount agreed upon BEFORE rendering any payment(s).
Firstly, is not "your" car ... The lending institution actually "owns" your car and can legally repossess it whenever the monthly payments are not being made as agreed upon when the initial loan was signed by the buyer.The lender is entitled to recover their property by most any means. And is is their right to resell that car to anyone they choose in order to recoup their losses after not being paid by the original buyer.Miss a payment, lose the car ... simple business. After all, they have your signature on a document that states you promise to make monthly payments or face the consequences.
Fair Credit Reporting Act requires that the creditor report your payment status accurately. That means that if you agreed to pay a certain amount on a certain day, then your account is "paid as agreed". If you miss a payment for any reason other than bank error, the account has not been paid as agreed no matter what the reason for the late payment. If you have medical issues that prevent timely payment, the best arrangement would be to make arrangements with the creditor prior to the conditions of the agreement not being met.
A car note is a car payment...paying a portion of money you and the dealer agreed on the car you bought.
No, not unless the child was a co-signer and agreed to be responsible for payment of the debt.
The bank can legally repossess a car at any time you default on the loan regardless of the vehicles value or the amount past due. If your car payment is due on April 1st and you don't pay than you are legally in default on your contract. If you make a partial payment (less than the amount you agreed to pay in your contract every month) and the bank didnt agree to this arrangement then you are still in default. The best bet would be to pay the $128 before the car is repossessed or to pay the back balance owed if it has already been repossessed.