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In the state of Texas can the lender repo your vehicle if your auto insurance lasped for 4 months you was told you had to pay full insurance coverage or vehicle will be repoed can they?
Yes they can repo if they catch the insurance lapse. Most financed vehicles have a Full Coverage clause that you signed and agreed to when you contracted to finance the vehicle.
If the car does not get register can the bank repo the car?
No. Full coverage insurance must be in existance, or they will put it on, and charge you. Current payments, are the only thing they care about. To them, it is just property.
If a car is repossessed and the loan is paid in full and you get your car back do you still have a repo on your credit report?
IF the lender posts a repo on your CR, you have one. You will have the repo on your credit report, but it should also show up as "redeemed".
Can you sue the lender if they repo your vehicle for being 21 days late?
No. Based upon your lending agreement, you agreed to pay the payments on time. There is NO required "Grace Period" for auto loans. They can also repo it if you don't maintain valid full coverage insurance.
Full form of repo rate?
repurchase agreement
How long can you be late on car payments before they can repo?
Read your contract. One day. As long as you are in default of the contract, the lender can repo the collateral. That could include no ins. coverage.
How hard would it be for a person to get a car back after a repossession?
1st repo?? Pay the arrears and repo fees, have ins. coverage 2nd repo??? Most likely have to payoff the loan unless the lender is in a really good mood. Read your contract
Can a lender repossess a vehicle if you send less than the asked for monthly payment?
AS long as you are in DEFAULT on the contract, the lender can repo the collateral. Usually that also means have full coverage ins also. Read your contract again.
What do you need to do to become a repo man in Georgia?
Know the repo laws for the state of GEORGIA. My web site @ automoneysaver.blogspot.com answers the question in full. Check out my archive files for full answer.
What is the full form of repo rate?
Repurchase Agreement by B.S.Jassal
In Alabama can you repo a vehicle if the buyer doesn't have full coverage insurance and they signed on the bill of sale saying they would?
IF the debtor is in DEFAULT of the contract (any one of the conditions) and the contract states the the lender will repo when in default, then go for it. Just a bit of CYA. Send them a reminder letter about the insurance default and give em 5 days to cure it.
What is full form of repo?
Remote emergency power off It is also an abbreviation of repossession.
