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When you vehicle is reposed are you financially responsible to pay the bank anything?
Wiki User
∙ 9y ago
When your car is repossessed from the bank, the bank will sell it, usually at an auction. You are responsible for the difference of the selling price and what you owe on the car.
Wiki User
∙ 9y ago
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Can a vehicle be towed to get to the vehicle being reposed?
it really dosent matter how u do it.
Can you paycheck be garnished on a reposed vehicle?
yes you canyes you canyes you can
Can i get my personal items from my vehicle if it has been reposed?
No if you have signed the contract/order it is no longer your vehicle so you are not allowed unless the person who now owns the vehicle lets you
The Law requires owners and operators of motor vehicles to be financially responsible for damages and or injuries they may cause to others when a motor vehicle crash happens?
Financial Responsibility
How long do have to pay once your car is reposed?
The bill is due immediately after the finance company sells the vehicle and totals the cost of reposession.
Is an uninsured driver financially responsible for accident damages in an insured car?
Both the permissive use driver and the vehicle owner(s) are financially liable jointly and severally for all damages and injuries sustained in an "at fault" accident. Both can be sued. If you were driving and at fault. Then you are the person most directly responsible for causing the accident and you are financially liable. If the owner gave you permission to drive the vehicle, although he's not at fault, he is also financially liable because it's his car and he's the one who allowed you to drive the car. If you are not a covered driver under the terms and definitions of the owners policy then the insurance company will not pay for the accident. We should never borrow or loan out a vehicle without first verifying the driver will be covered under the policy.
Is husband financially responsible for car registered owned and insured by wife?
If you reside in a community property state both parties are responsible for such matters until the court rules otherwise. If you do not reside in a CP state the person to whom the vehicle is registered to is considered for all intents and purposes to be the owner. The deciding factor of who is responsible for the debt if any on the vehicle is determined by the loan agreement.
If you cosigned for a vehicle with your husband before you were divorced and are now divorced and the vehicle is repossessed can you be charged with grand larceny?
Typically, if you are a cosigner on a vehicle loan that gets repossessed, you are still responsible for the debt, regardless of marital status. However, being charged with grand larceny would depend on the specific circumstances and laws in your jurisdiction. It is best to consult with a legal professional for personalized advice.
If your car gets totaled and you don't have comp-coll would you still be reimbursed for the value of the car if the crash is the other party's fault?
Most likely yes. They are financially responsible for the damage to your vehicle.
What if your car got reposed and you filed bankruptcy do i have to pay storage charges to the repo company?
Typically, when a car is reposed the financing company is responsible for all fees incurred in repossessing your vehicle. If you added the reposed vehicle in your bankruptcy and it was discharged with your other debts, you owe nothing to the bank or any of its' subcontractors. It is the financing company's responsibility only to pay its clients. If the repo. company is harassing you for the storage charges they are out of line. They must seek restitution from the financing company only. If they continue to call and pursue, call your local attorney general and state government banking association to file a complaint against the repo company and the bank. After a bankruptcy is discharged it is illegal for a creditor to call you for any financial restitution of a federally discharged debt.
Is there a law stating a reposed vehicle must be auctioned off within 90 days?
No, but most repos are sold long before 90 days.
In the state of Ohio can a husband be held financially responsible for the wife's repossessed vehicle if his name is not on the loan?
No, Ohio is not a community property state, therefore debts solely incurred by one spouse are not the responsibility of the other.
