im Missouri it is 10 days after repo, the title can be filed for repo by institution.
what are the legalities of voluntary vehicle repossession
Sample letter of vehicle repossession for the state of texas
I don't think there is a statute of limitation on repossession of a vehicle anywhere as long as there is an overdue payment outstanding.
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.
Dealerships are not typically recognized repossession agents, however, if you bring in a vehicle for service, and a valid repossession order exists for that vehicle, the delareship may secure the vehicle for the lender so that repossession may take place.
Contact an attorney.
pay what you owe
A "repossession notice" is a civil matter. A police oficer cannot hold the vehicle for repossession. Unless, there has been a court proceeding and the judge has ordered the vehicle held if stopped. A repossession notice also cannot stop the registration of a vehicle.
a voluntary repossession is where you turn over the vehicle instead of us having to come get it from you. www.aerecoveryandtowing.com
Pay off the loan.
No. The only vehicle that can be repossessed is the vehicle for which the agent has a valid order of repossession, OR in some cases, a vehicle the agent encounters (such as reported by a camera car) in the process of locating another repossession. Anything other would be wrongful repossession or possibly grand theft auto and extortion.
I am a repossession agent in Virginia it takes 2-3 months of not paying before the repossession status occurs.AnswerI am a repossession agent in Virginia it takes 1 missed payment then repossession status occurs.
They have no liability for a vehicle repossessed lawfully from their property.
A 'writ of REPLEVIN" maybe?
Till they find it.
not possible. sorry
the person the vehicle was leased to is responsible as they are the ones that have caused the vehicle to need to be repossessed.
Forever Adding: I believe the questioner may actually mean to say - does the lien holder have to wait to sell it. Perhaps he doesn't understand that after repossession, it is then "their", that is the lenders, vehicle.