No it is not a crime in the sense the police will come after you.This is a civil matter between you and the lender not criminal.It is however dishonest and wrong you signed a contract and you are obligated to abide by it. If you cannot fulfill your obligations then return the vehicle and move on.
It may be. But the real question is why are you wanting to hide the car. You are only making a bad situation worse. What they can't do is breach the peace in taking the car back. And in general, they can't take it by force UNLESS they get a court order (warrant) to enter the property looking for it. So they can't break into your garage, if they don't see it parked out front of your house without the warrant. Some people think, therefore, that they can just "hide" a car in danger of repo, by keeping it at a friend's house, that kind of thing. But, keep in mind, that most State Laws are not on your side in this one. Most states have laws about "Concealment of property subject to security interest" -- that property being the car you don't want repo'd. If you try to hide that car when the finance company has given notice that they intend to repossess, you can be found guilty of a crime. The crime is a misdomeanor if the car value is below a certain point, and it's a felony punishable by 10 years imprisonment if the car value is above the threshold value. When you finance or lease a vehicle, your creditor holds important rights on the vehicle until you've made the last loan payment or fully paid off your lease obligation. These rights are established by the signed contract and by state law. If your payments are late or you default on your contract in any way, your creditor may have the right to repossess your car.
Talking with Your Creditor
It is easier to try to prevent a vehicle repossession from taking place than to dispute it afterward. Contact your creditor when you realize you'll be late with a payment. Many creditors will work with you if they believe you'll be able to pay soon, even if slightly late.
Sometimes you may be able to negotiate a delay in your payment or a revised schedule of payments. If you reach an agreement to modify your original contract, get it in writing to avoid questions later. Still, your creditor may refuse to accept late payments or make other changes in your contract and may demand that you return the car. By voluntarily agreeing to a repossession, you may reduce your creditor's expenses, which you would be responsible for paying.
Remember that even if you return the car voluntarily, you're responsible for paying any deficiency on your credit or lease contract, and your creditor still may report the late payments and/or repossession on your credit report.
Seizing the Car
In many states, your creditor has legal authority to seize your vehicle as soon as you default on your loan or lease. Because state laws differ, read your contract to find out what constitutes a "default." In most states, failing to make a payment on time or to meet your other contractual responsibilities are considered defaults. In some states, creditors are allowed on your property to seize your car without letting you know in advance.
But creditors aren't usually allowed to "breach the peace" in connection with repossession. In some states, removing your car from a closed garage without your permission may constitute a breach of the peace.
Creditors who breach the peace in seizing your car may have to pay you if they harm you or your property.
A creditor usually can't keep or sell any personal property found inside. State laws also may require your creditor to use reasonable care to prevent others from removing your property from the repossessed car. If you find that your creditor can't account for articles left in your car, talk to an attorney about whether your state offers a right to compensation.
Selling the Car
Once your creditor has repossessed your car, they may decide to sell it in either a public or private sale. In some states, your creditor must let you know what will happen to the car. For example, if a creditor chooses to sell the car at public auction, state law may require that the creditor tells you the date of the sale so that you can attend and participate in the bidding. If the vehicle is to be sold privately, you may have a right to know the date it will be sold.
In either of these circumstances, you may be entitled to buy back the vehicle by paying the full amount you owe, plus any expenses connected with its repossession (such as storage and preparation for sale).
In some states, the law allows you to reinstate your contract by paying the amount you owe, as well as repossession and related expenses (such as attorney fees). If you reclaim your car, you must make your payments on time and meet the terms of your reinstated or renegotiated contract to avoid another repossession.
The creditor must sell a repossessed car in a "commercially reasonable manner" - according to standard custom in a particular business or an established market. The sale price might not be the highest possible price - or even what you may consider a good price. But a sale price far below fair market value may indicate that the sale was not commercially reasonable.
Paying the Deficiency
A deficiency is any amount you still owe on your contract after your creditor sells the vehicle and applies the amount received to your unpaid obligation. For example, if you owe $2,500 on the car and your creditor sells the car for $1,500, the deficiency is $1,000 plus any other fees you owe under the contract, such as those related to the repossession and early termination of your lease or early payoff of your financing.
In most states, a creditor who has followed the proper procedures for repossession and sale is allowed to sue you for a deficiency judgment to collect the remaining amount owed on your credit or lease contract.
Depending on your state's law and other factors, if you are sued for a deficiency judgment, you should be notified of the date of the court hearing. This may be your only opportunity to present any legal defense.
If your creditor breached the peace when seizing the vehicle or failed to sell the car in a commercially reasonable manner, you may have a legal defense against a deficiency judgment. An attorney will be able to tell you whether you have grounds to contest a deficiency judgment.
Remember this repossession will stay on your credit for 7 years.
the nickname of Michigan is Great Lake State
Yes, Michigan is the 26th state.
Depends on the state, but it could be criminal damage to property or vandalism. Oh yeah, you could be charged with a felony in Illinois because it's over $300.
The only thing i can think of is Michigan State College It was Agricultural College of the state of Michigan 1855 to 1861 when it was changed to State Agricultural College. In 1909 it became Michigan Agricultural College, and in 1925 it was changed to Michigan State College. In 1955, it became MSU. Go Green.
The deficiency balance in every state as relates to repossession is the outstanding balance of the original principle plus fees accrued by the repossession process that remain after the resale of the repossessed vehicle.
If it is defined as a felony, that is what it will be. The definition varies from state to state.
Yes, in the state of Michigan the act of adultery is considered to be a felony. Adultery is not a felony in all fifty states however.
NO!
It would normally depend on whether it was a felony or a misdemeanor. But Michigan does not differentiate. Perjury would be set at 6 years, not including time in which they are not living in the state.
Michigan is the least of your worries. If Florida finds out you've been charged with a new crime, even if it's in another state, they will very likely revoke your felony probation themselves.
In New York State burglary, the crime of entering a building with intent to commit a crime therein, is a felony.
Yes, it is a crime, if the 'secured party' (the party who orders the repossession) has demanded the car be handed over to them, then it is a crime to conceal it. You do NOT have to have been informed of anything by the repossession agent themselves. The only notification is that the secured party wants the car back. If you were to conceal the car in these circumstances, then under the Texas Penal Code, you would be 'Hindering Secured Creditors' (Section 32.33). If the car is worth less than $1500, it is a misdemeanor of varying degrees. If the car is worth $1500 or more, then it is a felony, of increasing severity for higher values.
If you are on probation for a felony and commit the same crime it is a felony. If you are on probation for a misdemeanor and commit the same crime it usually will be a misdemeanor. The exception is in some States a third misdemeanor offense for the same crime can be prosecuted as a felony. For example Stealing 3rd Offense or third offense for driving while revoked. This differs from state to state.
An offense is a 'felony' when the sentence and/or penalty attached to the crime by the legislature when they passed the law. A felony crime is punishable by MORE THAN one year in the state prison and/or a fine of MORE THAN $1,000.
As far as I know there is no statute of limitation on auto repossession in any state. Check with your state Attorney General to be sure. I will post a link for you to read. Repossession should be your last resort. Hiding a vehicle from repossession is a crime in some states. The consequences of repossession are always bad for you.
I don't think keeping a car slated for repossession in Illinois is a felony. Yes you can it is a felony in the state of Illinois if you hide your car or any morgaed property from a secured creditor,It is called Concelment of Colleteral.Check the state of illlinos genaral assambley web site
A felony is different from state to state and in some instances from jurisdiction of the courts. The public often thinks a crime is a felony when in reality it is not. If you are looking for a specific answer, your best bet is to contact your local authority and ask them. Or you can give a more specific question here and see what you come up with.