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What if your loan company wants to repo your car and you no longer have it?
Wiki User
∙ 10y ago
Then you're still liable for the money you owe the lienholder.
Wiki User
∙ 10y ago
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Can a title loan company repo your car on private property?
Yes they can
Can a repo company put a seize on your license and license plate and threaten to have you charged with a felony if caught driving the car they are trying to repo?
No, that is the job of the company that gave you the loan. The repo company can take your car the second they find it, but the real expense and trouble comes from the loan company you stole from. If you do not release the car you are in possession of stolen goods after a court judgment.
Is it legal for a company that sold your loan and received cash for it to try to repo your car without contacting the company who now holds the loan?
Lets try this; Co.A sells your loan to Co.B for "cash". Now Co.A wants to repo your car? IS that the question? If so, how Co.A got paid is immaterial to you. They could have been paid in widgets as long as Co. A and Co. B were happy. Id Co. A sold with RECOURSE to Co.B and you DEFAULT on the loan, then Co. B will tell Co. A"its back to you now, GO REPO IT". If i understand your question right, the answer is YES.
Is it the same thing as repossession if you call the loan company to pick up the vehicle since you can no longer pay for it?
It will show as a VOLUNTARY repo but still a repo. It will indicate to other lenders that you know when you are over extender and that you DO NOT attempt to use their collateral without paying for it. It IS a good idea to do so.
Can a title loan company repo a car that wasnot on the title loan agrement for nonpayment?
They can only repossess the vehicle which was on the loan agreement. Taking any other vehicle is theft.
Can the repo company take your car out of the county you live in?
Yes they can take the car were they need for safe storage. Just FYI if the repo company has the car it's no longer yours.
You can't pay for the car but the company won't come get it?
The bank that you have the loan with hires repo men to repossess the vehicle
If you are a cosigner on a loan will a loan company repossess the vehicle then let you pay it off and take possession without ruining your credit?
Contact the lender and let them knoiw that if ANY case the debtor defaults to notify you so you can payoff the loan. Add that you will payoff after repo with NO repo reported on YOUR credit.
Will a finance company settle a charged off auto loan since they didn't repo it?
A finance company could settle the auto loan. You simply need to get in touch with the company and make an offer. Be sure to get any agreement in writing.
If your son bought an ATV and you cosigned for him and then filed bankruptcy and your son is behind on payments can the repo man come to your home every 48 hours after you told him your son moved out?
As cosigner on the loan you are equally responsible for for payment on the loan. If the lender has hired a repo company to take back the ATV for non payment, then the repo company is going to do everything possible to get it. That includes the frequent visits to your home in an effort to locate the ATV. If you want the repo man off your back, tell him where to find what he is looking for....or contact the lender and bring the loan payments current immediately.
What happens if you no longer have the car you have a title loan on?
You are still expected to pay the loan or come up with the unit. If you sold it, and the title loan company sends out an order for repossession, whomever they repo it from is going to come after you for having their car taken from them. If its "gone" then they will file a writ of replevin and file a judgement against you. Either way, you signed a contract and you are expected to pay.
Can the finance company garnish your wages for the amount of a repo?
IF they get a JUDGEMENT, they can. The amount of the repo is small compared with the remainder of the car loan but they generally sue for everything.You can fight it and counter sue to reduce the amount you owe.
