0
What else can I help you with?
Can you collect a repossession fee if you do not send a pre repossession letter in Maryland?
In Maryland, a repossession fee cannot be collected if a pre repossession letter was not sent to the debtor. The letter is a legal requirement that must be provided before repossession can occur, and failure to send it could invalidate the repossession.
Where can one find a Car Repossession Action?
Most major cities will have a car repossession auction. However, most of these will only occur a few times a year. Sometimes it will be advertised on television, or it will be in a newspaper posting.
When do mortgage repossessions occur?
Mortgage repossession occur when you have no money to pay off your mortgage and only happens as a last resort to make up for the payments you can no longer pay off.
By law how many days does your payment have to be late for a reposession to occur?
The number of days a payment must be late before repossession can occur varies by state and contract. Typically, it ranges from 30 to 60 days past due. It is important to review the specific terms of your contract and familiarize yourself with the laws in your state regarding repossession.
Does a voluntary repossession affect credit the same way as a reposession?
Yes, there is no difference. A repossession is a repossession.
How will a voluntary repossession affect your purchasing a car within a year from the voluntary repossession?
A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.
Can you remove a repossession off your credit report if your cosigner has a judgment on the repossession?
No you cannot remove a repossession off your credit report if your cosigner has a judgement on the repossession.
What is repossession insurance?
Wrongful repossession insurance??? Coverage for when the Repossession Agency wrongfully recovers an asset for a myriad of reasons.
Does the repossession company have to report the repossession to the police after the repossession?
I only know about the state of Massachusetts. And yes in our state they have one hour to report the repossession to the police department in the town of which the car was taken.
How late can a vehicle payment be in Virginia before repossession?
I am a repossession agent in Virginia it takes 2-3 months of not paying before the repossession status occurs.AnswerI am a repossession agent in Virginia it takes 1 missed payment then repossession status occurs.
How should you be contacted if the car you cosigned on is being sold?
In a few states both the primary borrower and the cosigner must be notified by the lender through a "Right To Cure" notice before repossession action can occur. In Wisconsin a replevin order is necessary before a repossession can take place, but the cosigner is not always notified. In the majority of states the lender does not need to give either the primary or the cosigner notice of repossession action.
How do you write a car repossession letter?
How do you write a car repossession letter?
