Repossession

What to do in Alabama if a lender is wanting to repo your vehicle?

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2010-10-08 19:55:45
2010-10-08 19:55:45

Pay your bills on time :)

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When a debtor is behind on payments, NC law allows the lender to take possession of, or "repossess" the vehicle. A repo company on behalf of the lender can take the vehicle at anytime, anywhere that the vehicle is found and accessible. If the vehicle is in a locked fence or garage then the repo company cannot force entry to get to the vehicle.


The repo agency does one thing; repossess the vehicle. I don't know of any case where a lender could even draw from your pay. tThey hire a repo agency to get the vehicle, and they report your delinquency so your credit score suffers..The repo agency does one thing; repossess the vehicle. I don't know of any case where a lender could even draw from your pay. tThey hire a repo agency to get the vehicle, and they report your delinquency so your credit score suffers..The repo agency does one thing; repossess the vehicle. I don't know of any case where a lender could even draw from your pay. tThey hire a repo agency to get the vehicle, and they report your delinquency so your credit score suffers..The repo agency does one thing; repossess the vehicle. I don't know of any case where a lender could even draw from your pay. tThey hire a repo agency to get the vehicle, and they report your delinquency so your credit score suffers..The repo agency does one thing; repossess the vehicle. I don't know of any case where a lender could even draw from your pay. tThey hire a repo agency to get the vehicle, and they report your delinquency so your credit score suffers..The repo agency does one thing; repossess the vehicle. I don't know of any case where a lender could even draw from your pay. tThey hire a repo agency to get the vehicle, and they report your delinquency so your credit score suffers..


YES! A repo is a repo. If you turn the vehicle in to the lender and stop making payments this is called a voluntary repossession. The lender will sell the car and you will be responsible for the difference in what the car sells for and the balance on the loan. It will be reported to all 3 credit bureaus as a default on a loan, and your credit will be ruined for 7 years. You would however save to repo fees such as towing. Do not do this. Call the lender and work something out if possible.


YES. Read your contract. Does it say the lender cant repo IF you have no other vehicle? I think not. Less than a month behind??? Some lenders will repo when you get 3 days late. Any time you are in DEFAULT of the loan, the lender CAN repo. They may not, but they can.


It depends. If the repo was after you filed, and the lender did not obtain relief from stay to repo, you file a motion to hold the lender and the repo entity in contempt of the automatic stay, and ask for an order that the lender return the vehicle. If the lender did get relief from stay, you cannot do anything. If you are representing yourself, as the saying goes, you have a fool for a client. If you have a lawyer, why aren't you asking him/her?


It all varies by your state laws. but normally the lender will search for repo and towing companies in the area where they think you are and they search for you and come and tow your car to a tow company or repo company lot, then they contact your lender, so you need to contact your lender to arrange payment or to get your stuff out of your car. Hope This helps Adam OUT


Usually the bank has a list of repo companies they do biz with and they pick one to repo the car. Maybe the closest to the car, maybe the cheapest, whatever.


The DEALERSHIP won't repossess the car, but the lender might if you don't make the monthly payments as scheduled.


There isn't any.This is a civil matter not a crimminal one.If you are stopped by the police for speeding they don't care if the car is up for repo it is not their problem.It is between you and the lender.That is why the lender hires the repo co.


Depending on who the lender is and how they dispose of repos, it will go to the repo cos. storage lot and then to the auction.


No. However in most states it is a felony for someone to conceal a vehicle to prohibit a lender from repossesing it.


Not at the time the lender seeks repossession of the vehicle, but if it is found that fraud has been committed (vehicle hidden, sold, etc.) them criminal charges could be applicable.


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".


As far as I know, only 2 states require the lender/repo company to notify the debtor. The easiest way to find out the info is CALL THE LENDER.


Any information you give the lender or the lender obtains in the attempts to recover the vehicle by repossession is legal to use for that purpose.



You have the right to surrender your vehicle to the lender voluntarily.You have the right to try to prevent the repo agent from recovering your vehicle, but you have a right to an attorney when you are arrested for actively attempting to hinder a lender in the recover of their collateral.You have the right--no, that's a responsibility--to pay the loan as you contracted to pay it.Once the vehicle is recovered, you have the right to claim any personal property you foolishly left inside the vehicle, and to pay the storage lot the fees they assess for storing it for you.That's about it.


First of all, a lender does not report a vehicle as a repossession until they actually have possession of the vehicle. Then immediately via computer the code is entered and authorities notified. The credit reporting company may be a little slow getting the repo on your report however, but any new lender is going to check your report before giving you a new loan. After a vehicle is repo'd you usually have a few days prior to sale of that vehicle, to get the vehicle back if you pay the account current plus any repo expenses if it was a voluntary repo. If it was not voluntary, and the lender had to take the vehicle, they probably will not redeem the vehicle back to you, but it never hurts to ask.


You DON'T have the title if you have used as collateral, remember, you signed it over to the them.....Yes, they can get the vehicle


Check your contract for anything special, but I see no reason why they cant.IF you are in DEFAULT, YES, they can repo. no you were more late then your saying I bet. Legally, a lender may contract your vehicle for repo at midnight the day youre payment is due. Most wont, but legally they can reposess your vehicle the day after your missed payment


Provided the lender still holds the lien on the vehicle, it will still be repossessed and you will find you have a problem with a former friend.


Yes they can repo if they catch the insurance lapse. Most financed vehicles have a Full Coverage clause that you signed and agreed to when you contracted to finance the vehicle.


IF the debtor is in DEFAULT of the contract (any one of the conditions) and the contract states the the lender will repo when in default, then go for it. Just a bit of CYA. Send them a reminder letter about the insurance default and give em 5 days to cure it.


Considering that the LENDER will be the one to report it as a "repo", wouldn't it be best the discuss it with the LENDER?



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