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Is it legal for the lender to sell your car if it hasn't been filed as a repossession?
Wiki User
∙ 8y ago
IF you were in default, got repoed, the repo agency sent you the required cert. letters, the lender sent the required cert. letters, it is legal to sell yo ride.
Wiki User
∙ 8y ago
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Can a lender take legal action against the homeowner?
It's called repossession. The lender owns the property, the homeowner is making payments.
What can happen if you hide a vehicle from the repossession agent in NewYork?
after a legal process the lender can both sue and have you arrested.
Can a finance company check references for a repo car?
Any information you give the lender or the lender obtains in the attempts to recover the vehicle by repossession is legal to use for that purpose.
If you purchased a car in Delaware and moved to Texas what are the laws for repossession?
The legal remedy for vehicle repossession is covered by UCC laws. Regardless of where the lender is located the car can be repossessed under the laws of the state where it was purchased or where it is now located, whichever means is most advantageous to the lender.
Can a repossession agent take a vehicle without waiting for the borrower to show proof that payments have been made?
Yes. It is perfectly legal for a repossession agent to take possession of a vehicle when they are acting on behalf of the lender. The repossession agency does not have the option of allowing the borrower to retain the vehicle even though proof is presented that payments have been rendered. Such issues are strictly between the borrower and the lender. The lender and/or court being the only parties that can rescind the repossession action.
What will happen if you have been concealing your vehicle from repossession for over three years?
The lender has the option of foregoing repossession and filing a suit against the borrower for the amount owed plus interest, applicable fees and legal costs.
Can you get your car they came and got it you had already filed a chapter 7?
Generally in regardls to a BK 7 the debtor is only allowed to keep his or her vehicle if they reach a repayment/refinancing agreement with the lender. If the lender was not notified of your BK filling before the repossession they have the legal right to seize the vehicle in question. You might be able to have the vehicle returned for the period of time in which the BK is being adjudicated, but that is not always an option.
Where can you find repossession advice?
Repossession is typically an action that a lender may perform when the individuals/groups that they have money or goods to have not compensated them after a set amount of time. The best places to go for repossession advice would be the local legal authorities, such as the police, or the nearest bank if they are also known to repossess property.
What is the legal course that must be followed by a lender repossessing a car?
After repossession the lender must send a letter telling you where the car is how much is owed on the car and where it can\d be redeemed. This letter must be sent within 5 day after the repo
Liability of debtor after vehicle repossession in state of Texas?
The debtor is liable for the payout balance of the vehicle less resale amount. Additionally, he must pay any repossession fees, storage fees, transportations fees, interest from the lender, and penalties. In the evnet these are not paid, the lender will have no other recourse but to sue for the balance along with court costs, and legal and collection costs and fees.
If your car is going to be repossessed is it legal for you to sell it before the actual repossession?
Not without permission of the lender. A vehicle cannot be sold without a clear title of ownership. The lender is named on the title of a vehicle as the "lienholder" until the vehicle is paid for or otherwise released by the lienholder.
Do repossession agents take a picture of the car before they try to take possession of it?
That is a decision made by the lender, and some do have photographs taken before the car is seized, but it is not a legal requirement. The repossession agent/agency does not assume responsibility for any damage to a vehicle that happens while it is being recovered.
