Repo laws are different from state to state. The very best thing to do in repo cases is seek advice from a attorney experienced in civil matters. The attorney can research individual cases to see if proper proceedures were followed as directed by law
new purchase not in repossession
No. Not if the circumstances are as simple as stated. Repossession is a civil law procedure, not involving criminal law -UNLESS- the vehicle HAD already been re-possessed and you went and took it back from the repossession impound lot, or the repossession agent or the bank. If it had already been taken and impounded then, yes, you could be charged with auto theft.
The FHA does not have specific guidelines for auto repossession. Auto repossession is typically governed by state laws and the terms of the loan agreement between the borrower and the lender. It is important to review the terms of the loan agreement and consult with legal counsel if facing auto repossession.
You will receive notices that your payments have not been received, making your auto subject to repossession, but you will not receive a date and time of the repossession.
As far as I know there is no statute of limitation on auto repossession in any state. Check with your state Attorney General to be sure. I will post a link for you to read. Repossession should be your last resort. Hiding a vehicle from repossession is a crime in some states. The consequences of repossession are always bad for you.
Yes.
in the process of repossession?
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.
It is against the law to hide your car from repossession in every state. It is called fraud, interfering with repossession, auto theft in some states. In Indiana it is routinely dealt with by replevin, an order from the court to surrender the property or go to jail and surrender the property.
on products, not vehicles
yes,you may be catched by cops.
i = installment loan. 8 = repossession. i8 = repossession of an installment loan (like an auto loan).