Cars & Vehicles
Repossession
Credit

What can a creditor do to you that has repoed a car?

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Wiki User
2005-09-15 10:22:34
2005-09-15 10:22:34

It all depens since it varies from state to state but there are several options and none are pretty from your perspective.

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In some situations, YES. The threat of it is uasually enough to get the car repoed.

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Yes, its SO wrong. Same thing happened to me and the day I was to wire them the funds, they repoed my car. So, I got an attorney, filed bankruptcy and they gave me my car back. Now, they will get 1/2 of what we agreed on. Idiots.

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No As far as finance company is concerned the car came with wheels, it has wheels on it when repoed. Done deal.

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Then tell the Repossession agents where it is and who has it.

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1)he will take the car you left if that is the car to be repoed. 2)If you are traveling in the car to be repoed he will wait for you to return and repo it after you get back.

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ANYTIME you are in DEFAULT, you are gambling the lender wont repo before you get the money to them. Its just that simple. I actually worked for 8 years for the company that repoed me. I never took it personnl and I think people appreciated it. Mostly when a veh was repoed it was a mutual understanding. In this case I wouldn't of repoed the car. Always wanted to keep the person in the car. Anyways, that's me and it wasn't my call. People do get a thrill out of it, However, I never really did. :(

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If you aren't paying for that car's payments then yes. The only reason why your car should be repoed it because the payments aren't being made on it. It doesnt matter if your car is from the 1940's or if you brought the car last month, the car can be repoed if you dont pay the payment for 2 or more months (consult dealership for it's repo rules).

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Repossessed no. Confiscated yes.

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Then you should pay your bills.

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I missed my payment on my jeep and they repoed my other car. Can they do that

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IF your vehicle is collateral for loan in DEFAULT, it CAN be repoed.

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there is no reason for it to be on record, if you are a buyer

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Question is not clear -however- - a creditor on some other debt cannot legally seuze your car in paymnet of HIS loan. The reason being - you do not actually own the car. It is owned by the creditor who holds the car loan. If this is what happened to you - notify the police and your car creditor immediately!

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If your car was paid off, then why was it repoed? Or if you mean you paid it off after it was repoed, then if the loan company accepted your money,then they have to give you the car and title back. I would call them and get it back or your money back.

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If my car is repoed and the car is not worth as much as I owe am I responsible to pay the differance?

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CALL the LENDER who had it repoed. they know where it is.

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If your car was repossessed, they will sue you for the difference in what the car sells for and the balance on the loan, plus repossession fees.

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As a Constable and repo agent the quick answer is simple: If you hide the collateral from a creditor you will find yourself in court as the creditor seeks an order of replevin. It is basically an order from the court forcing you to turn over the pledged collateral or face a charge of contempt. If You refuse and the judge finds you in contempt you can ( and should) find yourself in jail.

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As long as the 450.00 is in DEFAULT, it can be repoed.

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The institution that has a lien on the vehicle.

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That depends on the terms set forth by your finance company.

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You don't. Unless of course there are legal reasons to do so.

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Even if you could you would still owe the bank the money they paid for the car.


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