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what are the legalities of voluntary vehicle repossession

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โˆ™ 2009-05-18 01:02:35
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Q: What are car repossession laws in Missouri regarding notification to auction a vehicle?
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What happens to the car after repossession?

The bank sells your car at an auction lot for about half the price you paid for it.


What are the repossession laws in New York?

Repossession without judicial process is allowed if the lender has not breached peace. A lender repossessing an automobile must issue a notice to the borrower, and a lender can sell an item via public auction after repossession.


How do you buy finance repossessed cars in Australia?

Go to a repossession auction. They are often advertised in the newspapers and on radio.


How will you know what you still owe the creditor after a repossession?

The amount you will owe the creditor will be the amount of your auto loan (including repossession fees, interest, and collection charges) minus the amount the vehicle sold for at auction. The creditor will notify you of the amount due in writing after they auction off the vehicle.


I have farm equipment for sale in Dixon, is there a good auctioneer in Missouri I can call to help?

The Missouri auction guide is thr largest auctioneer in Missouri.


In Georgia can a repossession vehicle be sold at any price regardless of book value?

Yes. Whatever it gets at auction.


How long does it take for your car to be auctioned after repossession?

depends you should receive a notice in the mail from the lender as to the auction date and place.


Is the lender required by law to notify you of the date and place of a private sale or auction?

legis.state.ga go here and search on repossession


Do they garnish your check after a reposession?

They will only if the remaining balance after the repossession and auction goes to litigation and the judge orders the garnishment of wages.


Where can one find a Car Repossession Action?

Most major cities will have a car repossession auction. However, most of these will only occur a few times a year. Sometimes it will be advertised on television, or it will be in a newspaper posting.


If you owe more than the car is worth what happens if it gets repossessed?

The car goes to auction, then you owe the remaining balance of you loan + repossession and storage fees minus what the car was sold for at auction.


When do public auto auctions occur in Missouri?

Most Missouri auto auctions are open to the public, and occur throughout the week depending on the auction house. Specific days and hours are available by contacting the auction companies

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