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Then you don't have a car anymore. The bank will resell it and may in addition hold you responsible for the difference between the proceeds (or the fair market value, whichever is higher... they're not allowed to sell it to an officer of the bank for a dollar, for instance) and what you still owed on the car. They can also add in the repossession fees (towing, impound/storage fees, and so forth). If they sell it for more than you owed plus the fees, then you won't be charged for it but you also won't get the excess; they get to keep that. In many places you have the legal right to recover any belongings of yours that were in the car at the time (this normally doesn't apply to items which are considered part of the car, such as high-performance replacement parts) ... at least in theory. In practice, if anything turns up missing, the burden will be on you to prove the missing items were actually there ("No, Your Honor, I swear, I had five ninety-pound gold ingots in the trunk!") when the car was repossessed.
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Can you remove your custom wheels from a car that has been repossessed?
ONLY IF YOU GET THEM FIRST IF THEY TOW THE CAR YOUR OUTA LUK
Can a car be repossessed if the debtor was not notified in writing that the bank would not be accepting anymore late payments and instead the tow truck person knocked on the door to take the car?
It happened to me. No notices were sent. No opportunity to bring payments up to date. The tow truck people didn't knock on my door. They just took the car.
Can you take car from tow yard if it is not behind gates?
If the tow and storage bill has been paid, yes.
Can you register a car being repossessed?
The tow/repossession company has to notify the police of the repossession so the car can't be reported stolen..
How much verbal abuse do you have to take from the bank that repossessed the car?
they can call you as many times as they need to. depending on your state. most laws require 3 months of non payment before they can send a tow truck to come get your car for repossesion
How do you know if your car was repossessed?
Contact your local PD. Repo men have to report your car when it is hooked to the tow truck. So there is no mistaken auto thefts
How can you find out where your repossessed car is so you can retrieve your license plates?
Contact the dealership where the car was purchased. Their should be someone in the collections department that will know where your car is. It is probably in a tow lot.
What are your rights if your car is repossessed in Texas?
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.
WHY would a cop tow your car from your yard?
Generally, they wouldn't unless it was stolen or used in a crime.
Can a tow truck just take your car?
If they are repossessing the vehicle for the bank, Yes.
If my friend got there car taking to an impound how do i locate it to get my stuff out if his car?
The police department that towed the car will know where the car is and can give you that information. The tow yard is going to require the title holder to be present (with an ID) or they may allow a written note from the owner to release your items that are in the car. The tow yard is able to tell you exactly what you need to do.
Can a tow lot take a car to the salvage yard and have it crushed without notifying the owner if they don't have the title to the car?
If it is parked out on the street they can.
