Chris, I dont know the answer to the question YET. I will find out today. email me latyer on and Ill have it for you. What does the lender "say" they will do???
If i have a vehicle repossessed in the state of texas, is there anything that requires me to pay off balance after vehicle is sold at auction?
I assume that you owed money on the car, defaulted, and the car was repossessed by the lender. At the time of auction, the title should have been transferred. The title should have been transferred when the car was sold. The auction house didn't handle the paperwork properly and will have a real mess to straighten out. But that does not entitle you to profit from the sale.
Where do you get a car auction licenses in Texas
Yes, TVs can be repossessed in Texas. The television that is purchased on a rent-to-own plan or that is in the process of payments for ownership can be repossessed if those payments are not made in a timely manner.
If your car has been respossessed, you no longer have the right to continue paying it off because they have lost faith in your ability to make payments. The bank has already paid about 500 to a tow truck driver to find and recapture the vehicle. However, you could buy it back at auction. See your bank for the auction date.
No In Texas your wages can be garnished by the IRS or Child Support only
thirty minnuts after the repossession of the car.
In connection with a voluntary repo? No. If there was a court case and the small retail business was included as part of a judgement, yes. They can only take your business if it was put up as collateral for the Rv loan.If it was not incorporated is it a DBA?Check with an attorney.
A written note
Under Texas law, a vehicle may be repossessed even if payment was only late for 10 days. This means that is payment was due on the first day of the month, and payment has not been settled on the tenth, then, vehicle will be repossessed on the eleventh.
yup The creditor who repossessed the car has to sell it (usually at auction) within a reasonable amount of time (2-3 months). They have to notify you that it will be sold. They have to give you any amount above what you owed plus reasonable attorney and other fees, or if there is a deficiency (the sale price and fees was less than what you owed), they can sue you for the difference.
The car can only be repossessed from a locked garage if the car is spotted in the garage from a window or a crack, but the repo company cannot enter the garage if the car was not visibly spotted.
"Voluntary repossession" basically means you're telling the lienholder "Come repossess this; I'll make it easy for you." Since the lienholder has no interest in the property, that means they'll come take the mobile home itself (or you could take it to them), but the property itself won't be impacted except to the extent necessary to drive in a couple of tractors to haul away the mobile home.
YES, they have to get your Personal Property out to inventory it and store it until you pick it up.
Storage Wars Texas - 2011 Puffy the Auction Slayer 4-26 was released on: USA: December 2013
garnished wages in Texasno the state of Texas does not garnish wages for no debts unless it is IRS related or student loans or anything dealing with government loans.
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Storage Wars Texas - 2011 Puffy the Auction Slayer 3-26 was released on: USA: 24 December 2013
The answer is yes, if the creditor brings you to court on the matter.
In San Antonio, Texas. Every Wednesday at the city impound lot. Address is 3625 Growdon Rd. It is open to public. There is another but it requires a dealers license. Its the San Antonio Auto Auction located at Ackerman Rd.
Yes, you are responsible for the balance not recovered through an auction, certains fees the lender charges which include the tow. If bankruptcy if filed with the amount of the debt owed, then the debt is discharged and you are not responsible for any money owed. Since bankruptcy is Federal, it applies to All states.
Yes. If the amount of the debt is greater than the price the car brings at auction, then you will still owe the balance, and if you do not pay it the creditor can sue you in order to recover it. Depending on how much it is and whether they think you have sufficient assets to make it worth the hassle, they may not bother, but legally they're allowed to do so.
Check out this link: http://www.texascollections.com/collecting_judgments.htm
Same as any other repossession, CALL the LENDER. Work something out.