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Income Garnishment

Is there any way you could get your payments lowered on your vehicle?

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Wiki User
2005-09-11 15:49:38
2005-09-11 15:49:38

YES, Contact your lender and work something out.

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A disabled person's vehicle can be repossessed just as any other person's vehicle can be repossessed. You must make all payments on your vehicle if you want to keep it.

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Usually Three. Could be less in some states. In reality, one should not be any payments past due - this will definitely harm ones credit ratings for the next 7 years!!

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Two things to consider here: First, the cosigner is an equal owner of the vehicle regardless of whether or not any payment has been made by him. This is a matter of contract law. Second, and typically in cases where payments are not current, the cosigner/co-owner can take possession of the vehicle to protect his credit if his intention is to surrender the unit or to make payments current.

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Its a SCAM! Avoid any contact with them. Ebay only works with escrow.com for payments and any type of vehicle purchase

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If you don't make your payments, they can be repossessed, the same as any other vehicle.

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* You have the right to possess any vehicle you do make payments on or have paid for. * You have the right to retain possession of said vehicle provided you continue to make contracted payments toward the unpaid balance of the principle. * You have the right to have your vehicle repossessed if you fall delinquent on your vehicle payments to the contracted lender. * If your vehicle is repossessed, you have the right to recover any actual private property that was in the vehicle at the time of repossession. * You have the right to pay fees for recovering your property that was in the vehicle at the time of repossession. * You have the right to pay all unpaid balances and fees accrued as a result of the repossession process. That's about sums it up. I confess I did substitute "right" for "responsibility" in several places.

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Yes. If you are making payments to a car lender, you are generally REQUIRED to insure the vehicle. If at any point they discover that you are NOT insuring the vehicle, they have every right to force coverage as they have a financial interest in that car.

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As long as the title and loan are in your name the car is yours. Any payments missed will effect your credit. Take the vehicle back, now.

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It is not a good idea. If that person does not make any payments then you are on the hook. The ownership can not be changed anyway, because it is listed as security under a registry.

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Could be one of a number of things, as it could be in any vehicle.

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One can do an online vehicle history check at Car Fax. They always have the most updated information, and can look up any history on any vehicle.

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The cosigner is not able to come and obtain your vehicle for personal reasons or any other reason. A cosigner is not claiming ownership of your vehicle, they are simply vouching for your credibility and agreeing that if payments aren't made that they will uphold the responsibility.?รฆ

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Yeah - you'll be charged with theft of some form. If the vehicle has a high enough value, it could amount to Grand Theft. When there is a lien on your vehicle, you don't actually own it - the lienholder does. If you fail to make your payments, the lienholder has a right to repossess what is already their property. You try taking it back, you're committing theft. You've lost any and all rights to that vehicle, and it is no longer yours in any sense of the word once a repossession agent takes possession of that vehicle.

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If you are credit-worthy, you may be able to co-sign for your boyfriend's vehicle. But be aware that if he fails to make payments for any reason, you are liable for the debt and the creditor will come after you and possibly file suit against you. - I wouldn't do it.

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You will have to pay any balance due after the car is sold and then it ruins your credit.


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