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What happens when a car is to be repossessed and the bank doesn't repossess it?
Wiki User
∙ 10y ago
Nothing.
Just because a bank is legally entited to reposess a car doesn't mean they have to do so immediately. They can choose to wait and see, and reposess it later if you're still delinquent on the loan.
Wiki User
∙ 10y ago
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Does the bank have to tell you they are going to repossess your car.?
Yes, the bank must tell you that your vehicle is being repossessed. The bank will usually try to reconcile the debt before the repossession takes place.
I failed to pay the pick up payment can the dealer repo my car even if its financed through a bank?
Your car can definitely be repossessed because of nonpayment. The bank can actually send a company to repossess your car.
Your father died and had just bought a new vehicle what happens with this vehicle will the bank take it out of his estate?
The bank can repossess the car if payments are not made.
Is it legal to auction a repossessed car after the bank has been paid in full?
certainly NOT, IF you AND the bank agree that it is paid in full. It appears the bank doesnt agree with that part. Call a local attorney for state specific advice.
What happens when you have had your car repossessed do you still owe the bank?
Yes. For any amounts not recovered insluding repo costs.
If you have two car loans at one bank can the bank repossess both even?
Yes they can repossess everything that you got a loan for.
Can a bank repossess a car before the last day of payment?
Unless it's explicitly stated in the fine print that they can't do any such thing, they have a right to repossess the moment the payment is rendered late, if they so wish. However, if you have documentation from the bank showing them explicitly giving you a deadline date, and they come to repossess before then, you may have grounds for a lawsuit. However, you would need to find out if it was the bank which had your car repossessed on that particular day, or if it was the repossessors jumping the gun and going forth with it before the date which they were specified to take possession of the vehicle.
How many payments must be missed before they repossess?
Actually one, I have repossessed cars for BMW where there customer was three days late. it all depends on the states laws I have a website that may help you avoid having your car repossessed. www.stoptheREPOman DONT LET TTHE BANK TAKE YOUR CAR BACK!
When a bank repossess someones car?
As long as the bank is listed as the lienholder on the title and as long as you owe them money and haven't paid they can repossess the car.
What happens if a car is repossessed?
Unless you contact the bank and work out a solution, they will sell the car. You will then be liable for the difference in what the car sells for and the balance on the note.
What do you if a car was repossessed despite regular payments being made?
First, talk to the bank where your loan is and find out why a repossession was made. If they did not repossess your car, then you have a case of auto theft. If they took your car, you deserve to know where you messed up and can dispute it from there. You may have to get a lawyer.
What happens if your house is in trust and goes to foreclosure?
What happens? the bank forecloses of course. The fact that the house is in a trust doesnt change anything.
