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I have a welding machine on the truck they repossessed can they keep that?
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∙ 14y ago
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What has to happen before a creditor can have your care repossessed?
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.
Can you get a car back after it has been repossessed and sold?
The only way to get it back would be if it were up for sale and you bought it. Once it's legally sold, it becomes the property of the new buyer.
If your car has been repossessed and you have not yet filed bankruptcy can you still be eligible to get the car back after you file?
If the car is gone, the car is gone. The car would only be covered in BK if you still had it. If you file Chapter 13 bankruptcy within 10 days of your car being repossessed, or in some states before it has been sold or auctioned, your creditor must return the vehicle to you.
Do you still have to pay off the loan once your car is repossessed?
In almost all cases, YES. At the very least you will pay the difference in what the car sells for and the balance on the note.
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 do you do about your car insurance once your car is repossessed?
Cancel your policy.
Do you have to pay the whole vehicle off if it is repossessed?
Once a car has been repossessed, you as the owner of the vehicle have the obligation to repay any amount still owed on the loan. Once a car is repossessed, it is often sold in a repossessed cars auction by the finance company. The amount which the car was sold for will be deducted from the total loan amount and then the difference will be owed by yourself. So yes you would have to pay the whole vehicle off if it was repossessed.
When a car is repossessed what do you do with the insurance?
When a car has been repossessed the person paying the insurance should cancel it.
If your car has been repossessed are you required to continue insurance and for how long?
Once your car is repossessed, it is covered by the repo companys and the lenders VERY expensive ins. No need for you to maintain coverage UNLESS you plan on redeeming it ASAP.
Can a title pawn sell your car after its been repossessed without telling you?
Yes. Once you default on your loan, it's their car. They're not obliged to tell you anything.
How soon can you buy a car after a car has been repossessed?
You can buy a car right after your car has been repossessed. It will however, depend on whether your credit is stable enough to qualify or if you have the cash to pay out of pocket.
Once your car has been repossessed in Florida can they freeze or take monies from your banking accounts to pay deff judgment?
i have nofing clue
In Utah can your wages be garnished for a car that was repossessed?
You do not owe money for a car if it has been repossessed, so your wages can't be garnished for that reason.
Do you have to insure a car that has been repossessed?
No, since the car is no longer considered "your" property.
Can your car be considered repossessed and put on your credit report as repossessed if they never picked up the car?
Absolutely. Once the car is considered repo'd it is all paperwork, otherwise you could just hide the car from the lender.
Can a cosigner have a car repossessed if the loan has been in arrears?
yes
What has to happen before a creditor can have your care repossessed?
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.
