Most attorneys love 'wrongful repossession" cases. Call one in your area.
Yes. If the payment is made to the finnance company.
We are remitted payment to you today, the balance is USD59,395.
Depends on the company. Average 2-6 months.
A payment is the transfer of wealth from one party (such as a person or company) to another. A payer is the party making a payment. The payee is the party receiving the payment.
YES.
I would check with your agent or the company.
The car will probably be repossessed.
YES, they can and DO. Read your contract about the re-instating part. Was this your 2nd repo?
Yes it can be done,read your loan agreement.
Did you give it back to the finance company? If you still have the car, job or no job, they will be expecting a payment every month. You may be able to call them and make payment arrangements with them.
A letter to a friend is NOT an example of a transfer payment.
The lienholder has an option to repossess when you become deficient on your payments for as long as you owe money on that vehicle. If you skip your last payment, that car can be repossessed.