barb, you will need to prove that the repoman pulled your car in park. Why??? Because he could have unlocked the door, opened the hood and pulled the shift cable off, then put it out of gear. That only takes about a minute and a half. The fact that it was 2 weeks before it broke makes me at least wonder. However, the LENDER is ultimately responsible for any damages incurred during and after repo.
The tow company is responsible for any damage incurred during and after while it is in THEIR possession.
I am very curious to who "Roosta" is and wherein he has received his knowledge of Repossessions? Barb, I would check your local state statutes and also your contract. Contrary to what you are being told the repossession company or finance company are not responsible for the damage unless they were PURPOSEFULLY NEGLIGENT. Most State Statutes would call your situation "An Asumption of Risk". In otherwords, you assume the risk of possible damage by allowing yourself to be put in a position to be repossessed. As far as my knowledge? I own a repossession company, sat on our state association board for 2 years and average 150 repossessions a month. Be cautious who you take advice from.
by roostaI don't know when you posted this, but if you see it, feel free to email me wonk at 14ma dot com. Do you think the opposing counsel will not show the repo company PURPOSELY NEGLIGENT for pulling a car in park??? Once you hook the car, YOU assume responsibility for damages. That's why Prime, ect. make money. Repo companies that cant/wont invest in equipment to do the job properly. As to your other point about the lender, the lender is the one who ordered the repo, so they have to pick up the ball if you fumble it. Thank you for your reply.
I own a repo company and on our repo order we have what is called a ''''hold harmless agrement'''' witch is a legal document stating that the lender gave me permition to repo a vehicle and will be held harmless for and against any and all claims,losses,and actions, except unlawfull acts of our firm. Which means the lender hired us as a contractor to recover the said vehicle and not be held responsible but the lender is. But don't count your chickens yet.. This is lenders we are talking about and they don't want to pay for anything, so in your contract you signed when you bought your car it probobly says that if this happens you will be the one to pay for it because you are in default of a signed contract.
CALL a local attorney NOW.
The LENDER is responsible for every detail of a repossession. They may pass the costs of repair on to the repo company.
Absolutely not. How and why would he be responsible?
Every state requires repossession agents to carry insurance. If the vehicle is damaged during a repossession or especially a wrongful repossession, the agency that secured the unit must have it repaired at their own cost, or as a matter of insurance claim. Remember, do not sign for acceptance on the repairs until you are absolutely satisfied that they have been done properly.
If my car is repoed and the car is not worth as much as I owe am I responsible to pay the differance?
If the car was damaged during the repossession, then take the tow company to small claims court. You better have written proof from that mechanic that they damaged the car our you will loose.
CAN & WILL. Good Luck
Depends. Are you receiving the car or are you selling the car.Repossession = againRepossession = ownershipRepossession = gaining ownership again
The person causing the damage is usually responsible, and that would be the hook driver, or his employer, or both, assuming the "someone else" did nothing to interfere with the repo.
Yes. Additionally, you will be responsible for any late fees, repossession fees, storage fees, transportation fees, and legal fees and court cost incurred during the repossession process.
who is allow to do Vehichle/car repossession? when is a vehichle/car repossession not allowed? whats the minimum insurance needed for car repossession?
How do you write a car repossession letter?
If a car shakes during acceleration the brake rotors may be damaged. If the rotors are damaged they will be unstable as the tires rotates making the whole car shake.
NONE OF THE ABOVE. Call an attorney ASAP.
is concealing a car from repossession a felony in georgia?
ANYONE who's name is on the loan contract is responsible for the debt. Who will sell someone a car and that someone NOT be responsible for paying?? NOT ME LOL
They will sell the car and you will be responsible for the difference in what the car sells for and what the balance on the loan is. You will also be responsible for any fees associated with the repossession. Also, your credit will be ruined for 7 years.
I'd like to know this too!!
The kid who hit the ball.
Once they repo the car, the lender will sell the car for whatever it will bring. You will then be responsible for the difference in what the car brings and the balance on the note. You may even be responsible for repossession fees, and your credit will be ruined for 7 years.
When you cosign for an automobile purchase you are typically liable for an automobile repossession in Michigan. The reason why is because you are responsible for car payments as a cosigner if the primary debtor cannot pay.
The repossession process of a car usually takes about 6 months
A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.
Obviously you are responsible for the damages, the car is in your name, is it not? Maybe you should date better drivers.