Repossession
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My car was not repossessed but the account was charged off what can happen?

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2008-02-24 07:12:09
2008-02-24 07:12:09

Will be repossessed, be patient. You either pay off, or pay off. No longer able to make payments. They will repossess the car and sue for the difference. Sorry.

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You can be sued and your car repossessed.


Probably not, but there is a good possibility that you'll be watched.


Your debt is then written off as the car covers the cost of the debt.



A car cannot be repossessed until the owner has missed several car payments and the owner has been notified of late payments. In most states a car can be repossessed after three months of non-payment.





If you want to be charged with making a false report on top of losing your car. If it has been repossessed legally, you have no real claim on it and aren't supposed to find it. Pay what is owed on it and whoever has it must produce the car.


if i get my car repossessed, can they put a llien on the house?


Your car was probably repossessed by the lender who owns the car until you pay for it. Call your lender and they will be able to tell you how to locate your repossessed car.


No, a car can not be repossessed due to having no registration. A car can be repossessed for non payment. The police can have a car towed to an impound lot if there is no registration.


No, but your car can be repossessed if you don't make the payments.


If you buy a car, lend it to a friend and it get wrecked then you have to get it reposessed with a bk. What can the creditor do if the car is wrecked? Even after the bk can you be charged for missing or broken parts?


It is more likely the car will be repossessed by the lending agency, if you have defaulted on the loan. You may also be charged criminally. If you simply took a car without paying for it, this is classified as grand theft auto and, if caught, you will be charged criminally.


If you get the account current. Call the lender and ask. They will be the final answer on the subject.


It will be auctioned off and the bank will want to collect the difference of what it sold for and what your loan was.


if the car dealership does not pay for the car in full or pay their bills then the car would most likely be repossessed


They will then sell the car and you will be responsible for the difference in what the car sells for and the balance on the note. Don't let it happen. Contact the lender and work something out.


When a car has been repossessed the person paying the insurance should cancel it.



No, it is probably not too late. It certainly will help your credit either way. Call them immediately. Do not allow it to be repossessed if at all possible.


When you don't make regular payments, your car will repossessed. Now if you had an upside down loan, you will still owe the lender.


Looks like 2 choices here..they made a mistake and listed the wrong account OR they have more faith that they CAN and will repo it than you do...LOL


No. Your car gets repossessed, it's on you. You don't get to pass that on to someone else.



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