Depends on the company. Average 2-6 months.
WE'RE ON OUR WAY!!!!!
The car can be repossessed. The estate is responsible to return the vehicle and resolve the lease or loan.
If you had the vehicle registered before it was repo'd, of course you do.
There are certain strict procedures that an automobile repossessor must follow when he is repossessing your car. The repossessor must notify the police that such vehicle is being repossessed, you did before or after the repossession has occurred. In either case, the police should know right away that the vehicle was repossessed. If this is not the case, then the vehicles like to have been stolen.
Yes, and many people do object to their vehicles being repossessed, before and after the repossession. Unfortunately, your objection will have little effect. If you are delinquent or in default on your loan, and the vehicle was used to secure the loan, the vehicle will be repossessed. There are few legal options available to you to avoid this aside from paying the loan current.
Make the idea known to the lender BEFORE you proceed. get it claer what is to happen.
If you have not paid your loan, your vehicle is repossessed. If your vehicle is parked illegally, such as in front of a driveway or in a no parking zone, it is impounded. In both cases, a police report should have been turned in to the local police department. With an impounded vehicle you generally have a parking ticket, a towing fee, and a storage fee. All three must be paid before you get your vehicle back. Next time walk an extra block.
Sit back and wait for NOI letter (Notice of Intent). * The majority of states do not require notice before a vehicle is repossessed. Contact the lender and explain the situation. And hope for a positive outcome.
It depends on where you are. In most states, no there is no requirement for that, but they do have to let you come retrieve your personal belongings later.
Not without permission of the lender. A vehicle cannot be sold without a clear title of ownership. The lender is named on the title of a vehicle as the "lienholder" until the vehicle is paid for or otherwise released by the lienholder.
Yes. The charge might be grand larceny depending upon the value of the vehicle, amount received for the parts and other extenuating circumstances.
Read the terms of the contract. Once the contract is "In Default", the note can be called in and the vehicle can be repossessed. It can be as soon as 1 day past due. But in reality, most banks know that they'll probably loose money on the process so most will try to give you a little extra time.
Yes, if you have proof that your lender received your payment before your vehicle was repossessed. If you have this proof, you can sue them and get your car back and not be charged for any fees.
The person(s) whose name(s) appear on the title of the vehicle should remove the license plate(s) before the vehicle is impounded by the repossession agent.
They usually repossess when you miss two or three payments. They seldom repossess if you've just missed one.
Depends on the contract you signed and the state that you live in. Some states require a 15 or 20 day Right to Cure letter be sent to the debtor prior to repossession and some states allow the vehicle to be repossessed the day after you miss your payment.
No, repossession is a civil action not a criminal one. You can be held financially responsible for the debt, though, regardless if the divorce petition states otherwise.
It is probably stated in your finance or lease agreement that if you don't make your payments on time that the finance company has the right to repossess the vehicle. Consider yourself informed. Long story short, if you don't want your vehicle repossessed you need to make your payments.
I'm assuming you were the (former) owner trying to get your car back. In that case it's up to the lienholder what they require. If, instead, you're buying a repossessed car at an auction, it's typical practice that all purchases must be settled in full immediately; there's no financing available.
Yes/No, because if it is parked in reverse, the back wheels would be dragging, and soon shift gears (If repossessed by a chain truck), but if it is a flatbed tow truck, then yes, it can be repossessed, because the back wheels would not be dragging, therefor the wheels would not shift gears and ruin the vehicle, or reverse of of the truck!Why are you asking, has your car bin repossessedbefore?-Zachary T. Davis06/03/12
Legally if you miss 1 payment you are delinquent and they can start repossession proceedings on their vehicle. Remember it is not your car until you pay for it. It belongs to the lender.
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.