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Because the lender repossessed the car from where ever it was after being totaled.IF you had gotten the car back after it was totaled, it couldn't have been a repossession.

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โˆ™ 2011-09-13 15:33:27
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Q: Why is the bank reporting a car as a repossession when it was stolen and totaled and you are still paying for it?
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Related questions

Does gap insurance cover a repossession?

Gap insurance only pays if the vehicle is totaled in an accident or stolen and not recovered. It does not cover the deficiency balance after a repossession sale.


If your car was stolen and totaled can the bank list it as a repossession and make you continue to pay insurance on it?

IF the car was stolen, reported as stolen to the cops, the ins. should be paying the loan off. IF the ins. co. does not think the car is stolen, they wont pay and its as if the car was NOT stolen. So, you have to pay notes and insurance on the collateral. Bottom line??? HELP the ins. prove it was stolen and the problem will go away. MERRY CHRISTMAS.


Can you register a car being repossessed?

The tow/repossession company has to notify the police of the repossession so the car can't be reported stolen..


Can you be charged with a stolen truck if you get behind on payments?

If they come to repossess it, and you claim to not know where it is, then the repossession agent will report it stolen. At that point, anyone found in possession of it is in possession of a stolen vehicle.


Will reporting your license plate stolen cause your insurance to go up?

No


Repairing or paying for property stolen or damage?

Restitution


Repairing or paying for property stolen or damaged?

Restitution.


What can happen if you hide your car from repossession?

Well, it's not your car you're hiding. The financier is the one who owns the car so long as they hold the lien on it. They can do a number of things, ranging from taking you to court (if they feel it's worthwhile to do so) to reporting it stolen (if a certain set of conditions exist enabling them to do so, among which is you telling the repossession agent that you don't know where the car is).


Can a coowner report a car in repossession stolen inn Vegas?

No. Namely, because the car wasn't stolen - it was taken back by the rightful owner (the financier), via a repossession agent. It's not the financier's fault - nor the repo agent's - that you neglected to make your payments.


Can lojack be used for vehicle repossession?

No they can't. It is strictly a service to recover vehicles that have been reported stolen.


If your husband has stolen property can you be held liable for not returning it?

That could be a stretch, but you can possibly be charged with knowingly having stolen property and not reporting it.


Do you have to continue paying your insurance if your car is stolen?

No, as long as you have let your insurance company know they car is stolen.

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