What do you do when your car has been 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…
Your car was repossessed after being six months behind and then you get a call from the car dealer after two years trying to repossess the car are you still liable?
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?
How far behind do your car payments have to be before it can be repossessed in the state of Virginia?
There are certain strict procedures that an automobile repossessor must follow when he is repossessing your car. The repossessor must notify the police that such vehicle is being repossessed, you did before or after the repossession has occurred. In either case, the police should know right away that the vehicle was repossessed. If this is not the case, then the vehicles like to have been stolen.