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The laws vary by state. ALL states require that there is NO BREACH OF PEACE in a "self-help" repo. There are some states that require written notice of "right to cure" before repo can occur. email me if you decide what state you are in. LOL

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โˆ™ 2004-07-21 23:59:39
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Q: What are the laws for a personal car repossession when the buying party has defaulted and the title is still in your name?
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Related Questions

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What is a vehicle repossession by a private party?

The recovery of a vehicle by a private seller rather than by a lending institution such as a bank.

How does repossession work?

The crux of repossession depends on the contract you took out at first with the other party. My suggestion would to refer to the contract and find any clauses pertaining to repossession. The legality behind repossession is quite complex and difficult to outline and I am not a lawyer to give advice on that matter but can only give suggestions as a public person. For example, if you went into contract to buy a new car and overtime you could not pay the monthly installments then the other contracted party can take court actions through specialized repossession agencies to repossess your car. This may include further charges and expenses the other party can incur upon you on top of what you have in debt with that party. The list is long. Do not quote me as this website is open to international viewers thus each country and legal system may operates differently. It is wise to seek legal advice or talk to someone who has experienced it before.

What are your rights when it comes to a car that just has a payment for half of the remainder owed and the private party it was being bought from has repossessed it for personal reason?

If the repossession occurred in a state that does not permit self-help repossession, report the car stolen; it cannot be legally repossessed. Louisiana and Wisconsin are two of these states. If you can show legal possession of the vehicle, and on time payment, report the car stolen. It cannot be legally repossessed in any state unless the debt is delinquent. If you do not wish to involve LEO's immediately, contact the private party who "repossessed" the vehicle and explain that if it is not returned within a reasonable amount of time, that you will report the vehicle stolen and give his name as the party responsible. There is no legal "personal reason" for repossessing a vehicle.

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I'm not sure entering is the right term...ut interest on taxes would ONLY be deductible by the party that paid it AND only if that party was buying the real estate as a business investment/capital asset, not for personal use.

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Do you need a licence or anything to repossess cars in Lancaster PA?

PA does require any third party repossession to be done by a licensed repossessor. A third party repossession is one that is completed by a person who is not an employee of the finance company. The license is not the only thing that you need though. Any finance compnay will require that you are bonded and properly insured. This con be the expensive part.

Is it a felony or crime of any kind in the state of texas to hide a car that is up for repossession?

Yes, it is a crime, if the 'secured party' (the party who orders the repossession) has demanded the car be handed over to them, then it is a crime to conceal it. You do NOT have to have been informed of anything by the repossession agent themselves. The only notification is that the secured party wants the car back. If you were to conceal the car in these circumstances, then under the Texas Penal Code, you would be 'Hindering Secured Creditors' (Section 32.33). If the car is worth less than $1500, it is a misdemeanor of varying degrees. If the car is worth $1500 or more, then it is a felony, of increasing severity for higher values.

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They are two different issues. A derogatory (negative) trade line is a record of a consumer's past and current buying and payment activities. A collection account is generally an account that has been defaulted on. It some cases it refers to the original creditor or the OC collection representative. Or it can be in referance to a third party that has purchased the account.

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Can police interfere in a repossession because police in blue springs Missouri forced me to disclose third party information as they threatened to arrest me for knocking on the address of a debtor?

Police can investigate if a repossession is being legally accomplished. You cannot harass someone to collect a debt. They are in their rights to investigate.

You Paid a defaulted loan off directly to the lender now how do you get the defaulted party name off of title when they refuse to cooperate Is their any form you can address the courts with?

Contact the credit bureau(s) it is reporting on anf when they ask send them the information certified. Also it would help to send the collector a certified statement that the debt is paid for.

Can a lender report a vechicle stolen while trying to repossess in the state of Florida?

In the event that the possessor of the vehicle is not a contracted party, or if the contracted party is actively seeking to hinder repossession, then yes, the lender can report the vehicle stolen.

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Both of them, depending on who you ask.