You send them a certified letter demanding return of the car within 3 days. If no response, report it stolen.
The car can be repossessed. The estate is responsible to return the vehicle and resolve the lease or loan.
You dont they most often get liquidated at dealer only auctions.
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.
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.
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.
The one who BORROWED the money and/or the on who COSIGNED the loan.
As the primary, you are the first one they go after.
Yes! It will still be listed on your credit report as a voluntary return and you will still be responsible for the cost
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.
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.
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.
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.
Most likely not depending on what financial situation you're in.
Negative impact to your credit score, and your car could get 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.
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.
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.
You will be liable to pay the debt outstanding.
If it is repossessed, you will owe the difference between the loan amount and what they sell the vehicle for.
They are sent to an auction and sold.