Auto Loans and Financing
Repossession
California

What can your lendor in California do to you after repossession of your vehicle?

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Wiki User
2005-10-12 14:06:06
2005-10-12 14:06:06

I just recsntly had my vehicle repo'd in cali, and to tell you the truth.. you're screwed. not only can they keep the vehicle... you are still completley obligated to pay off the loan. my suggestion to anyone who cant make their payments on time.. hide it well.

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what are the legalities of voluntary vehicle repossession

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Sample letter of vehicle repossession for the state of texas

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Under California law, a creditor can repossess the vehicle if it is in default without notice, even if the car payment is one day late. However, if there is a co-borrower on the loan, the creditor is required to give notice before repossession.

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I don't think there is a statute of limitation on repossession of a vehicle anywhere as long as there is an overdue payment outstanding.

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The California Business and Professions Code is very clear on this point. The code states the following: With regard to collateral subject to registration under the Vehicle Code, a repossession occurs when the repossessor gains entry to the collateral or when the collateral becomes connected to a tow truck. You can find out more repossession related laws by checking out the website at mparepos.com. They have a FAQ page that answers all related repossession law questions for the State of California.

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A "repossession notice" is a civil matter. A police oficer cannot hold the vehicle for repossession. Unless, there has been a court proceeding and the judge has ordered the vehicle held if stopped. A repossession notice also cannot stop the registration of a vehicle.

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In the state of California, the lender of a repossession may only charge fees that it incurs and that are in the contract. If the lender pays for the storage or houses the repossession, then yes, the lender is allowed to charge both a repossession and a storage fee.

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a voluntary repossession is where you turn over the vehicle instead of us having to come get it from you. www.aerecoveryandtowing.com

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Frank Lendor was born on October 4, 1939, in Santo Domingo, Dominican Republic.

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No. The only vehicle that can be repossessed is the vehicle for which the agent has a valid order of repossession, OR in some cases, a vehicle the agent encounters (such as reported by a camera car) in the process of locating another repossession. Anything other would be wrongful repossession or possibly grand theft auto and extortion.

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I am a repossession agent in Virginia it takes 2-3 months of not paying before the repossession status occurs.AnswerI am a repossession agent in Virginia it takes 1 missed payment then repossession status occurs.

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They have no liability for a vehicle repossessed lawfully from their property.

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the person the vehicle was leased to is responsible as they are the ones that have caused the vehicle to need to be repossessed.

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Forever Adding: I believe the questioner may actually mean to say - does the lien holder have to wait to sell it. Perhaps he doesn't understand that after repossession, it is then "their", that is the lenders, vehicle.

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you have to get a speeding ticket in Pennsylvania

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miss a couple of car payments and you will find out!

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Concealment of a car up for repossession in Florida is a felony. You can be charged with hindering a lender in repossessing a vehicle, or even grand theft auto. Additionally, the state of Florida will not permit you to register any vehicle in your name if you have an active repossession against you.

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Vehicle repossession laws in Arkansas is the same there as it is in every other state. One must pay his loans or risk facing legal action from the one that one has borrowed from.

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No, if the vehicle is subject to repossession due to a default in the lending agreement, it is irrelevant whether or not the parent agrees to the action.

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As a repossession investigator and agent liason, I can tell you that yes, in fact, I know of several instances of felony charges being filed against an individual for hindering repossession of a vehicle. Your lawyer's response may have been motivated more by the fact that he felt confident that he could successfully prevent prosecution, but nothing will prevent the vehicle from being repossessed aside from the destruction of the vehicle. In the event the possessor of a vehicle under repossession were to destroy a vehicle to prevent that repossession, he could then be charged with malicious destruction of private property and hindering a lender.


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