The state doesn't repossess your car - private companies do that on behalf of the lienholder. They don't charge you for private property left in your car when they repossess it - that would be illegal. They charge a "storage fee" for the items they remove from your car. Underhanded, yes, but they can legally do it.
Yes. A charge off does not mean that the debt is not still valid and subject to collection by any means available to the lender.
They sell the vehicle for what they can, then charge the remainder to you. They usually sell that debt to a collection agency, and the agency starts calling you for that money.
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it is not legal
If the lein holder didn't authorize a repossession can the person of ownership take charge and collect the vehicle, even if it's paid on time but both parties on reistration are no longer in agreement?
Not if you are on the title to the vehicle and own it. Whoever holds the loan on the vehicle can repossess the car however if you are late with payments. Contact the lender and work something out. You do not want your car repossess. Credit will be ruined for 7 years, and you will still have to pay the repo fees plus the difference in the balance on the note and what the car brings when they sell it.
No. Most (99.9%) of the lenders require you to maintain Comp.& collision Ins. on the vehicle the money was loaned for and secured by. If you fail to do this the lender can, and in most cases, will put this Ins. on the vehicle and you will be charged. The charge for Ins. placed on the vehicle by the lender will be quite high, and it is then added to your payment. If you get your own Ins., the lender will cancel the ins. they placed on the vehicle.
Yes, along with all other costs of the repo.
It shouldn't unless the position requires you to operate one of the companies vehicle.
They don't charge you for your personal belongings.. they charge you a storage fee. Yep, it's 100% legal.
Fuel Recovery Charge
Most insurance companies do not charge you to switch vehicles, but the rates on the new vehicle will be different based on the year/make/model of the vehicle and what coverages you add to the vehicle.
Every place can charge what they want. Check out local tow companies and their fees are as high as they usually get.
Yes. What happens is that they auction the vehicle. They can auction a vehicle 10 days after they repossess it, not before. They take that money, apply it to the loan. Whatever balance is left is what you are responsible for. One thing you can question, is what the vehicle is auctioned for. They have to make every reasonable effort to sell it for book, they just can't sell it for $10 if it is a $10K vehicle, if you know what I mean. There are guidelines that they have to adhere to.
No, it is a mistake on the companies behalf, not yours.
The electric companies charge a homeowner on the basis of a kilowatt hour.
Yes, even if only one payment is missed the lending agreement is in default. A lender can charge off the account, repossess the vehicle and/or take other actions provided under the state laws.
In most states, yes. Provided the repossession company made a good faith effort to secure the unit, especially if their efforts motivated the borrower to make good on the bad debt.
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If it's in the contract, yes.
Yes, and you can charge it with a full size 10 amp charger without removing it from the vehicle.
Ralph, they cant charge for "getting your stuff out", they CAN charge for inventory of the stuff and storage. Some states even regulate how much they have to charge.