And you did nothing else for the next 5 years? Amazing! You should have called the lender 5 years ago and kept calling until something was worked out. But you did not do that, so now where do you stand with this mess? I have no answer. For future reference, read below. When you finance or lease a vehicle, your creditor holds important rights on the vehicle until you've made the last loan payment or fully paid off your lease obligation. These rights are established by the signed contract and by state law. If your payments are late or you default on your contract in any way, your creditor may have the right to repossess your car. Talking with Your Creditor
It is easier to try to prevent a vehicle repossession from taking place than to dispute it afterward. Contact your creditor when you realize you'll be late with a payment. Many creditors will work with you if they believe you'll be able to pay soon, even if slightly late. Sometimes you may be able to negotiate a delay in your payment or a revised schedule of payments. If you reach an agreement to modify your original contract, get it in writing to avoid questions later. Still, your creditor may refuse to accept late payments or make other changes in your contract and may demand that you return the car. By voluntarily agreeing to a repossession, you may reduce your creditor's expenses, which you would be responsible for paying. Remember that even if you return the car voluntarily, you're responsible for paying any deficiency on your credit or lease contract, and your creditor still may report the late payments and/or repossession on your credit report. Seizing the Car
In many states, your creditor has legal authority to seize your vehicle as soon as you default on your loan or lease. Because state laws differ, read your contract to find out what constitutes a "default." In most states, failing to make a payment on time or to meet your other contractual responsibilities are considered defaults. In some states, creditors are allowed on your property to seize your car without letting you know in advance. But creditors aren't usually allowed to "breach the peace" in connection with repossession. In some states, removing your car from a closed garage without your permission may constitute a breach of the peace. Creditors who breach the peace in seizing your car may have to pay you if they harm you or your property. A creditor usually can't keep or sell any personal property found inside. State laws also may require your creditor to use reasonable care to prevent others from removing your property from the repossessed car. If you find that your creditor can't account for articles left in your car, talk to an attorney about whether your state offers a right to compensation. Selling the Car
Once your creditor has repossessed your car, they may decide to sell it in either a public or private sale. In some states, your creditor must let you know what will happen to the car. For example, if a creditor chooses to sell the car at public auction, state law may require that the creditor tells you the date of the sale so that you can attend and participate in the bidding. If the vehicle is to be sold privately, you may have a right to know the date it will be sold. In either of these circumstances, you may be entitled to buy back the vehicle by paying the full amount you owe, plus any expenses connected with its repossession (such as storage and preparation for sale). In some states, the law allows you to reinstate your contract by paying the amount you owe, as well as repossession and related expenses (such as attorney fees). If you reclaim your car, you must make your payments on time and meet the terms of your reinstated or renegotiated contract to avoid another repossession. The creditor must sell a repossessed car in a "commercially reasonable manner" - according to standard custom in a particular business or an established market. The sale price might not be the highest possible price - or even what you may consider a good price. But a sale price far below fair market value may indicate that the sale was not commercially reasonable. Paying the Deficiency
A deficiency is any amount you still owe on your contract after your creditor sells the vehicle and applies the amount received to your unpaid obligation. For example, if you owe $2,500 on the car and your creditor sells the car for $1,500, the deficiency is $1,000 plus any other fees you owe under the contract, such as those related to the repossession and early termination of your lease or early payoff of your financing. In most states, a creditor who has followed the proper procedures for repossession and sale is allowed to sue you for a deficiency judgment to collect the remaining amount owed on your credit or lease contract. Depending on your state's law and other factors, if you are sued for a deficiency judgment, you should be notified of the date of the court hearing. This may be your only opportunity to present any legal defense. If your creditor breached the peace when seizing the vehicle or failed to sell the car in a commercially reasonable manner, you may have a legal defense against a deficiency judgment. An attorney will be able to tell you whether you have grounds to contest a deficiency judgment.
Never Heard of it. Since when was it a superstition? .....
No it is not illegal for the repo agents to call the police because if it's a reposession, the lender has a financial interest in the car, and since the pink slip holder of the vehicle (the lender) OWNS the car, the lender has every right to the car since it wasn't paid for. However I'm not completely sure what authority police can exercise. I think the next step a lender can take on an unpaid car is to sue/send to collections, or garnish wages.
Since you have a loan you should be required by the lender to have full coverage insurance which will pay you the value of the vehicle. With out insurance you are still responsible for repaying the loan no matter what happens to your vehicle. It is not the lenders fault your car was stolen and wrecked...
What exactly are they going to repo,you the vehicle was stolen and you no longer have it right, come on use the thing attached to your kneck.
Since I have never heard of Gary Barlow it must be Depp.
What can be done ? Or is there a policy I heard some time ago part of the amount will be accepted bt the lender with the vehicle age. SInce the Collection customer has probably written the Title off. I would say just take the vehicle to a used car dealer and tell him you want to trade, usually he has the answer and what can be done . You will be glad to know it probably was written off. Good luck post your response
Yes. The lender will check the title and if you have acquired an interest since the mortgage was granted you should receive notice.Yes. The lender will check the title and if you have acquired an interest since the mortgage was granted you should receive notice.Yes. The lender will check the title and if you have acquired an interest since the mortgage was granted you should receive notice.Yes. The lender will check the title and if you have acquired an interest since the mortgage was granted you should receive notice.
Well, Since I have never heard of him, Probably not famous, but could be well known. -CaptianC3 (Roblox)
Better ask your B/K attorney on that. OR the LENDER. IN FILING CHAPTER 7, YOU CAN KEEP THE VEHICLE AS LONG AS YOU CAN MAKE THE PAYMENTS. HOWEVER, IF YOU DID NOT RE-AFFIRM THAT LOAN AGREEMENT, YOU MAY SURRENDER THE VEHICLE TO THE LENDER. SINCE IT WAS INCLUDED IN THE BANKRUPCTY, YOU WILL NOT BE RESPONSIBLE FOR ANY FURTHER MONEY OWED TO THE LENDER. IF THAT LOAN WAS RE-AFFIRMED, YOU CAN STILL SURRENDER THE VEHICLE, BUT WILL HAVE TO PAY THE BALANCE THAT REMAINS ON THE LOAN PLUS ANY FEES, TOW, ETC.
It is unknown since he was never heard of again after they mutinied and he was set adrift.
Probably Victoria Beckham since I've never heard of Cheryl Cole.
it was invented in bemidji minnesota! never heard of it Google it?!?!? its the most popular thing since Martha Stewart