depends on what state you are in.
Yes, unless there is a another previous lien holder.
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.
Repossess or foreclose on the secured property if the agreement is in default.
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.
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.
re-run. see above post
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.)
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.
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.
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.
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.
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.
To repossess vehicles one must be licsenced to repo, check your state laws. Some law enforcement entities can be of help if the bike is in your name. But to go and take it yourself opens up a world of legal problems if the party you take it from wants to pursue the issue.
IF your name is on the TITLE as buyer or cobuyer, you have the right to POSSESSION. Do you know where the car is? Do you have a key?
Yes. A judgment creditor can execute a forced sale of the motorcycle to recover monies owed. If there is still a loan lien on the cycle a forced sale would be very difficult. Also, the loan holder/lender can repossess the motorcycle under the same laws that apply to other vehicles if the borrower defaults on the lending contract.
You can repossess the boat if it has not been paid for. It will help if you have signed documents concerning the sale and when and how it was to be paid for. And beware of the physical dangers involved if you try to repo it yourself. Experienced repo men have been killed by people mistaking them for thieves and by people who are just plain mad at being repo'ed.
If you are up to date with your repayments then the finance company are unable to repossess your vehicle. If you have defaulted on your payments then they are able to repossess the car, the number of missed repayments which qualifies for repossession will be stipulated on the agreement you signed when you first purchased the vehicle.
Yes, if the vehicle was purchased during the marriage it is considered community property.
They can only repossess the vehicle which was on the loan agreement. Taking any other vehicle is theft.
No. A vehicle cannot be sold without a clear title and the only way to obtain such a document is through the lien holder.
Nothing..... it is the responiblty of the lender to arrange someone in your state to repo the bike (or car). Keep your insurance on the bike just in case something happens to it in the meantime.
IF YOU HAVE THE ORIGINAL TITLE YOU CAN.IF THE GUY THAT HAS IT HAS ANY LEANS ON IT,THEY WOULD HAVE TO BE PAID OR THE CREDITOR CAN REPO.
Can the police repossess your car? Can the police repossess your car?
Hey Hun, if you do not make the payments they will come to repossess your car.