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What do you do if you loan your car to someone and they don't return it Can you have the car repossessed?
Wiki User
Answered 2005-04-25 16:24:30
You send them a certified letter demanding return of the car within 3 days. If no response, report it stolen.
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Related Questions
Can a car be repossessed if the owner dies before the first payment is due?
The car can be repossessed. The estate is responsible to return the vehicle and resolve the lease or loan.
Where would go to get a loan on a car that was repossessed?
You dont they most often get liquidated at dealer only auctions.
Can a car be repossessed in California without a lien being placed on the title?
IF the loan is perfected, it can be repossessed. If you have signed a loan contract with the vehicle specified as collateral for that loan, it can be reepossessed if the loan is in default.
Can your driver's license be suspended for not paying the balance of a loan after the vehicle was repossessed?
No. Absolutely not. Your driver's license cannot be suspended for not paying a loan or the balance of a loan, repossessed or not even if you get threats from the loan company.
Can your car be repossessed on a title loan after gone into collections?
Yes, your car can be repossessed if the title loan is in collections. Actually, this is one of the most common ways for a defaulted title loan to be settled.
Who pays the loan if a car is repossessed?
The one who BORROWED the money and/or the on who COSIGNED the loan.
If you are the primary on the car note for an auto loan you got with someone else who pays when the car is repossessed?
As the primary, you are the first one they go after.
If you voluntarily let your car be repossessed by the lender do you still have to pay on the loan?
Yes! It will still be listed on your credit report as a voluntary return and you will still be responsible for the cost
Can you return a car bought on a personal loan when you were told it was on finance?
Have the car voluntarily repossessed. Using this option means that you voluntarily return the car to the finance loan company if you are too far behind on your payments and can't recover. If you decide to return the car, the finance company may pick up the vehicle or it may require that you return the car to its location.
How long does one have to be delinquent on a loan before a car is repossessed?
To determine how long one will have to be delinquent on a loan before a car is repossessed depends entirely on where the loan was taken from. Different places allow different payback requirements.
Is it possible for your car to be repossessed if you owe money on something else?
Possible?? YES. IF your loan is CROSS-COLLATERALIZED with another loan, YES. IF you owe repair bills on the car, the repair shop can repo it if you dont pay.
Can your vehicle be repossessed after the loan and security agreement has expired but you still owe a considerable sum?
Loan and security will always be active against the vehicle. It never goes away until paid or repossessed. Yes, the collateral may be repossessed at any time.
If you have never had a car repossessed you have had a house repossessed Can I still get a car loan?
Most likely not depending on what financial situation you're in.
What Consequences for not repaying a loan?
Negative impact to your credit score, and your car could get repossessed.
If someone borrowed my car and didnt return it can I have it repossessed?
Repossession would not be the correct procedure to get your car back. You should contact the person to say you are going to call the police if the car is not returned immediately. Then do it. If they are using your car beyond the period of the loan the use is now unauthorized.
Can someone one be put on the registration and not on the loan?
Laws vary from state to state, but here in Kentucky, the answer would be no. The reason for this is the item be registered is securing the loan, and if it were to have to be repossessed, or reclaimed by the lender, the owner that was not on the loan could have legal standing to protest the action. Therefore the people on the registration also are on the loan.
Can my house be repossessed if my husband is madebankrupt but is not on the deeds?
Your husband's name is not on the deed, but is he on the loan? If yes, then it cannot be foreclosed and repossessed if the property is listed on his bankruptcy filing, and, as long as his bankruptcy payments are current. If he defaults on bankruptcy payments, then you can lose the property. If he is not on the loan, then your house can be foreclosed and repossessed.
If your house is repossessed due to a secured loan and there is not enough equity to pay the loan what then happens to the secured loan?
You will be liable to pay the debt outstanding.
Can you still owe money after your car is repossessed because of the recall?
If it is repossessed, you will owe the difference between the loan amount and what they sell the vehicle for.
What happens to title loan cars when they are repossessed?
They are sent to an auction and sold.
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