Until the lender reduces his claim to a CIVIL action (judgement) they are free to repo. After getting a judgement, they are more or less saying, "I dont want the car, I want the money".
Yes, there is no difference of application of debt owed whether a vehicle is voluntarily surrendered by the borrower or the lender takes steps to recover the vehicle. The borrower is responsible for all costs associated with the vehicle after it has been sold at public auction. If the vehicle has been damaged and cannot be sold under such conditions the borrower will be responsible for the entire balance of the loan plus fees and penalties. The lender has the right to pursue litigation to recover monies owed and if granted a judgment can execute it against property belonging to the debtor.
The lender has no legal obligation to recover a vehicle and usually will not if the vehicle has greatly depreciated due to age and/or condition. The buyer cannot receive a clear title to the vehicle until the loan is paid or satisfied. The lender can use whatever means allowed under the laws of the debtor's state to collect monies owed, including filing a lawsuit against the debtor.
A vehicle is a secured loan and cannot be discharged in bankruptcy. If a reaffirmation agreement between the lender and the borrower is not possible the vehicle is usually repossessed. However, the lender does not have a legal obligation to recover the vehicle. The lien will not be released until the loan is paid or settled to the satisfaction of the lender. Under new bankruptcy laws, the lender is entitled to collect the full amount of the loan plus any applicable legal fees and interest. This generally means that the lender will file a lawsuit to obtain a judgment which can be used as a wage garnishment, bank account levy or other method as allowed by the state laws to collect money owed.
You can only keep the vehicle under two circumstances: (1) sign a reaffirmation agreement and keep making payments; or (2) redeem the vehicle by paying of the balalnce. If you fail to do either, they lender can get permission from the bankruptcy court to repossess the vehicle. In some states, such as Missouri, you may keep the vehicle if you continue to pay on it.
As long as you have a handgun carry permit that is valid in Texas, yes. You can also carry a handgun on or about your person in your motor vehicle without a license in Texas, if you meet the "requirements". Is a motorcycle a motor vehicle? Yes: "Motor vehicle" means: (A) any motor driven or propelled vehicle required to be registered under the laws of this state; So you can legally carry a handgun on or about your person on your motorcycle if you meet the "requirements".
You will not be refunded. If the transaction takes place in Texas, you will pay Texas sales tax appropriate to that county. If a Texan were purchase an auto in Okla, they would pay Okla taxes. Fair is fair. >>>>>>>>>>>>>>>>>>>>>>>>> I was under the impression you only pay sales tax to the state in which you register a vehicle. If the dealer got you an Okla. registration no harm done. If not show the sales tax receipt to the motor vehicle clerk when you register the vehicle or they will charge you tax too, and if they do the dealer had no right to charge you and you should demand a refund. yes u should ======================== The first answer is correct. If you buy a vehicle out of the state you reside, you do have the option to buy the vehicle on a temporary tag and then pay the taxes and register the vehicle when you return home. ++++++++++++++++++++++++++++++++++++++++++++++++++++ If you purchase a vehicle in Texas for use exclusively outside of Texas you are not required to pay Texas motor vehicle sales tax. You must also complete the Texas Motor Vehicle Sales Tax Exemption Certificate. (Texas Administrative Code / Title 34 / Part 1 / Chapter 3 / Subchapter F / Rule §3.90) Basically, if you are a resident of another state and buy a vehicle in Texas, you do not have to pay the 6.25% Texas motor vehicle sales tax.
A vehicle is considered a secured debt. Therefore there is no SOL governing the repossession or collection of amount owed. The vehicle legally belongs to the lender/creditor until payment is made in full. * There is an SOL pertaining to when the lender may file a lawsuit to recover any outstanding debt. Vehicle loans are considered written contracts and under NH law the SOL for a written contract is 3 years.
You keep the title. It should show a leinholder listed below, under your name. The new lender doesn't actually need to have the title, as the new lender will release the lien after the payments are made in full. You will then be issued anothe title, showing you as being the sole owner of the vehicle. This is what they refer to as a "clear" title.
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