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We had a vehicle repossessed then the company sold the debt to a debt collector from another state will they be able to collect?
Traciann
They operate the same as if the debt collector was in your state. I would ask for a Debt Validation letter from the new debt collector.
Many times when debt is sold the supporting documents are not sold with it. If they cannot produce the original documents you may be in a situation where they cannot sue you and have to remove the deragatory from your credit report.
P.S. I am not a lawyer.
Wiki User
∙ 14y ago
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What is surrendering your vehicle mean?
Surrendering a vehicle, in a financial sense, means that it is being repossessed and it is being given back to the finance company. The company will usually send someone to collect the vehicle.
Does a finance company who has repossessed your vehicle have any rights to your new car that is financed by another lender?
No
Can a debt collector legally come to my home or workplace?
Can a loan company come to your home to collect payment? Personal Loan...
Is it legal for the repo company to break into your car once it has been repossessed without a key?
The car is not yours, it belongs to whoever got the repo company to collect it. They can decide what happens to the car, if they instruct the repo company to break into it, then that's what will happen.
How does voluntary repossession work on an RV in NC?
Instead of having it forcibly repossessed, you call your finance company and tell them you're voluntarily having it repossessed. They may send a tow service to collect it, or they may ask you to take it to the repossessor. It'll be repossessed, auctioned off, and the amount they get from the auction will be deducted from the amount you owe. The finance company may offer a settlement at that point for an amount less than what you owe on that vehicle - that's up to the finance company.
What do I do with a car that was voluntarily repossessed and the finance company won't come and get it?
While most creditors will allow you to have your vehicle voluntarily repossessed, some lenders will not accept them. Your best resolution in this case is to contact the finance company and determine why they will not collect the vehicle. Ensure that they are indeed accepting the voluntary repossession. You will still be required to pay the remaining balance unless you are told otherwise.
Is the collector's addition a legitimate company?
the collector's addition is supposedly a company in buford, georgia
Can your car be reposessed if you move to another state?
Yes, your car can be repossessed. I ship cars for a company that repossesses cars out of state all the time.
Can a debt collector refuse a payment if you offer to pay?
can a debt collector refuse payment after it is offered after being swiched from one company to another and not being 30 day notice
How do collection agencies work re rates they charge the collectee and the collector?
Generally a collection agency will charge the company they are collecting for a percent off what they collect. They do not charge the person they are collecting from.
Does a repossession company get paid if car is not repossessed?
Some do, most do not.
What is the tow company in the show Repossessed?
Jam Recovery Inc.
