IF you had ins. coverage and were not in DEFAULT of the loan in any way, CALL AN ATTORNEY NOW ! ! !
Are you sure the vehicle wasn't actually stolen? Usually the only two reasons for legal repossession are being in default on your payment or not keeping the required minimum insurance on the vehicle. This is to protect the finance company from possible loss and basically protect their investment.
Your car can be repossessed if you miss one payment. Not likely they would do that but it is possible.
If you do not want your car repossessed, then you need to keep up with the payments on your car. If you are behind on payments, then your car could be taken away from you legally.
If you have no lien on your vehicle then no one has a legal right to repossess it. If you're not behind on the payments there would be no reason for the lender to reprocess the car in the first place. It is hard to believe you have a loan on a car without a lien. The car stands behind the loan. If there's no lien on the vehicle then the car is not involved in the loan and cannot be repossessed.
No, but your car can be repossessed if you don't make the payments.
The best way is not to fall behind with your payments.
Yes, your car can be repossessed by a company if you are behind on payments. However, it has to be a licensed repossess to be able to do this.
The only way you can have your car repossessed would be to not make any payments. If you have taken out a loan and have not made payments, they will take your car away.
When you can't meet the payments.
A car can be repossessed in the state of New York if payments are late or defaulted. The only way to not get a repossessed is to make your payments on time.
If you don't make your car payments.
Legally if you miss 1 payment you are delinquent and they can start repossession proceedings on their vehicle.
In Virginia, the law states a lender must submit notice in writing at least 10 days before a car is to be repossessed. Therefore, car payments that are late can be subject to repossession at anytime, provided notice has been given.
If you weren't making your payments yes. It would only be repossessed if you weren't making your payments.
maybe but your car would be repossessed
dont pay the payments ever
A car cannot be repossessed until the owner has missed several car payments and the owner has been notified of late payments. In most states a car can be repossessed after three months of non-payment.
READ your CONTRACT. Its that simple. If you are in DEFAULT of the contract, they can repo the collateral.
If they are accepting your payments, they probably won't take your car.
YES, very much so. If you cant get out of default, get your stuff out of the car.
When you cosign for anyone you are taking 100% responsibility for the payments on that car. If the person that gets the car doesn't keep their payments up it will be repossessed by the bank with an option for the cosigner to take over payments or sell the car and pay back the loan. Marcy
Typically a person is given three months or approximately 90 days to miss car payments before a car is subject to repossession. Usually the bank or credit union that issued the loan will call to try and arrange payments with the car owner.
If you don't pay your car payments, people go to your house and take it away.