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What are the proper steps to take to repossess a motorcycle in Texas for non-compliance of details in a privately drawn up agreement?
Wiki User
∙ 19y ago
This is best answered by a loacl attorney who knows all the details and can relate state specific laws to each.
Wiki User
∙ 19y ago
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What are the proper steps to repossess a motorcycle you financed for a friend?
depends on what state you are in.
How long does a company have to wait to repossess a vehicle?
This would be determined by the terms of the loan agreement and the applicable local laws. Within the loan agreement there should be reference to the action that can be taken to repossess the car should non-payment arise.
What can a creditor do if you stop payments on a secured loan that was not reaffirmed?
Repossess or foreclose on the secured property if the agreement is in default.
You have paid your car payments but have late fees can they repossess the car?
Yes, late fees indicate that payments were not made on time, which renders the original agreement invalid and allows the lender to repossess the vehicle if they so choose.
How does a private party registered owner in CA repossess a motorcycle from someone who is living in another state?
re-run. see above post
Can a car dealership repossess your car if they say you owe them more money for a down payment?
A dealership can only repossess your car if you do not pay in accordance with the sale agreement. If you did not pay the agreed down payment, the car may be repossessed.
Can a cosigner repossess the car if other party is unable to pay?
Co signer does not have the right of subrogation. ( the power to recoup the losses). His agreement is only with the lender who will demand payment in case the principal borrower fails to pay. He has to honour the agreement. If he pays to the lender, he can have a legal remedy through court and can repossess the vehicle only if the court orders so. ( This is on an assumption that there is no agreement entered into between the principal borrower and the cosigner. Even if there is an agreement it can be enforced through a court only.)
What happens if they repossess the wrong motorcycle?
Call them up and straighten it out. They will catch on anyway and it is best to be able to give them the right one. Otherwise if an "act of God" happens, you are covered.
What happens to a person if they hide motorcycle that is being repossessed?
Nothing will happen to a person if they hid a motorcycle that is being repossessed. Eventually, the company that is trying to repossess will either give up or find you. They will use all tools at their disposal depending how much is owed at the time.
Can a credit card company suzuki reposses a motorcycle if the title has no liens?
If you bought the bike on credit and miss the payments, they can and will repossess the bike and sell it at auction. Just like a car.
If I default on my personal loan agreement, can they repossess my collateral?
Your property can be subject to repossession if you default on a loan. This can be the case if you put up part of your collateral as a guarantee for your loan.
You got a auto loan for your friend who agreed to completely pay off in full she failed to do so and now the bank wants to repossess will a written agreement between her and you hold up in court?
If you have a written agreement to show in court it cant hurt. It depends on what is in the agreement. Take this to court with you it may help.
