Repossession

What is a repossession order used for?

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2013-07-10 20:43:15
2013-07-10 20:43:15

In a repossession order, a lender can repossess one's home if the court approves and grants permission. The judge could either set the case aside or give a repossession order.

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No, all that is necessary is a valid repossession order from the lender.


They can only take whatever it is they have an order of repossession for - if the trailer is not included in their order of repossession, they cannot take it.


They can if they have an order for repossession. You can ask to see the order, and if they do NOT have the order, then they can not take the car. The repossession would become invalid without the order to take the car.


Repossession is generally used to refer to a financial institution taking back an object that was either used as collateral or rented or leased in a transaction.


Your wages can be garnished for an auto repossession if there is a court order. All wage garnishment's must be obtained from the county court of your residence.


To answer your question simply, a repossession order will typically be a 60 day repossession order. If however you do not contest the repossession or don't turn up to the hearing it is more likely to be a 30 day repossession order. However, you are not clear if you have even received a notice of intended court action or a court date. There is no hard, fast, rule which states when each lender will start repossession proceedings, they can be after just 1 missed payment - the average is between 2 and 3 missed payments. This answer above has been copy & pasted from http://www.repossession-stoppers.com/answers/how-long-does-a-house-repossession-take.htm which is a UK site So if you are from outside the UK it may be different...


Present proof of your ownership and the lien contract to court and get a repossession order.


Yes, this is the common reason for repossession. It is in fact the primary reason for the existence of repossession agencies and repossession forwarding companies. It is also the reason the vehicle was used to secure the loan in the first place.


Dealerships are not typically recognized repossession agents, however, if you bring in a vehicle for service, and a valid repossession order exists for that vehicle, the delareship may secure the vehicle for the lender so that repossession may take place.


Depending on the state you reside in the procedure in order to get a repossession stopped is difficult. One of the few ways to stop a repossession is if a "breach of the peace" were to take place such as your car being in a locked garage or a threat of force was issued.


Only if the repossessor has an order for repossession of the trailer, as well. And even then, only under certain circumstances. If it's a commercial tractor trailer, and there's a load in that trailer, they may not take it, as the order of repossession does not cover the load, and they will face criminal charges if they do such.In the course of repossessing a vehicle, the repossession agency may not enter or move any vehicle (including a trailer) which is not in their order for repossession. They may detach a trailer from a truck being repossessed, but they can't actually take it.



If they have followed the laws and have a court order, yes.


Yes, there is no difference. A repossession is a repossession.


A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.


Depends. Are you receiving the car or are you selling the car.Repossession = againRepossession = ownershipRepossession = gaining ownership again


No you cannot remove a repossession off your credit report if your cosigner has a judgement on the repossession.


A repossession can be executed anyplace or time that a person holding the repossession order sees the vehicle in question, as long as the repo man does not violate the law in doing so. That said, Florida law does not restrict repossession according to location.


The company repossessing the car has no authority to negotiate terms with you. They are simply there to repossess the car. You must negotiate with your lender. Hopefully, you will do this before the the repossession order is submitted by the lender.


Wrongful repossession insurance??? Coverage for when the Repossession Agency wrongfully recovers an asset for a myriad of reasons.


Florida allow repossession by UCC regulations, a right to cure notice or replevin order is not required and the vehicle may be recovered by a licensed agent as long as it is done without a breach of peace. The county recorder must be notified of the repossession action and the plates remain with the borrower.


I only know about the state of Massachusetts. And yes in our state they have one hour to report the repossession to the police department in the town of which the car was taken.


What makes you think you can just return it. You can't. You bought it, you own it. Now if you are talking about doing a voluntary repossession, of course it will ruin your credit for 7 years. A repossession is a repossession, voluntary or not.


I am a repossession agent in Virginia it takes 2-3 months of not paying before the repossession status occurs.AnswerI am a repossession agent in Virginia it takes 1 missed payment then repossession status occurs.


Yes. A repossession agent can secure the vehicle anywhere he finds it with some limitations, provided he has a valid order for repossession.



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