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What is the best course of action when your car is repossessed?
Wiki User
∙ 16y ago
You should have taken care of this before it went this far. But as you did not, you may still have a chance to get the car back. If you hid the car to avoid repossession, trashed the car, or lied on your credit application, you are probably out of luck. You know that they are going to sell this car to the highest bidder and you are going to be responsible for the difference in what it sells for and the balance on the loan. Your credit will also be ruined for 7 years because of this. You need to act very quickly and contact the lender and see if they will accept the back payments. You will also have to pay the repo fees and any other fees they incurred to retrieve their vehicle, you happened to be driving and paying for. Remember it is their vehicle until you pay off the loan. I will post a link you need to go to and read. Good luck.
Wiki User
∙ 16y ago
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Should you cancel the car insurance on a repossessed car in Florida?
Yes of course you should!
If you file for bankruptcy and your car is repossessed can a friend take a loan out for you to purchase a car?
Of course, it won't legally be your car however.
What happens if you get your car repossessed?
if i get my car repossessed, can they put a llien on the house?
How can you locate your repossessed car?
Your car was probably repossessed by the lender who owns the car until you pay for it. Call your lender and they will be able to tell you how to locate your repossessed car.
Can your car be repossessed if you lose your job?
No, but your car can be repossessed if you don't make the payments.
Can a car be repossessed from a car dealership?
if the car dealership does not pay for the car in full or pay their bills then the car would most likely be repossessed
Can a car be repossessed with a person in the car?
No.
When a car is repossessed what do you do with the insurance?
When a car has been repossessed the person paying the insurance should cancel it.
Where do you get a car after your car was repossessed?
im sorry you can not
Will insurance pay for a repossessed car?
Of course not! It wasn't stolen or wrecked, it was taken from you for failure to pay on the loan!Be sure to cancel the insurance.
Can you have a car repossessed?
Yes
Ways to keep your car from being repossessed in Columbus Ohio?
The best way is not to fall behind with your payments.
