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Demand verification of the debt.

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โˆ™ 2014-02-06 19:19:49
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Q: Why would you still get calls from collection if it has been over 13 years since you had your car repossessed?
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F a car was repossessed two years ago and you put an old car that a friend had on the road can they come after that vehicle for the money still owed after auction?

No. They can repossess their collateral (the car which was repossessed), and they can send a collection agency to hound you for money, but they can't confiscate your property.


Your car was repossessed after being six months behind and then you get a call from the car dealer after two years trying to repossess the car are you still liable?

If the dealer calls you after the car has been repossessed, then you should inform them that you no longer have the car. They can contact the finance company to verify the information.


Who do you contact about debt collector calls?

If you want them stopped, ask for the physical address in which to send a cease and desist letter regarding calls. They can still send letters and proceed to legal collection activity.


If you had a car repossessed 6 and a half years ago made a few payments after that but still receive collection letters will they stop after 7 years in FL?

The SOL starts when you made the last payment.


Can your car get repossessed after bankruptcy?

not if you still owe money on it


If you have never had a car repossessed you have had a house repossessed Can I still get a car loan?

Most likely not depending on what financial situation you're in.


Can you still owe money on a car that was repossessed and resold to another buyer?

yes. When a vehicle is repossessed by the bank it doesn't mean that you stop making payments. You are still liable for the loan.


Can you still owe money after your car is repossessed because of the recall?

If it is repossessed, you will owe the difference between the loan amount and what they sell the vehicle for.


Are you still liable for the payments if your truck is repossessed in Alberta?

Yes you are


If you LEASE a car and have it voluntarily repossessed will you still owe money on it?

Yes


Can your car still be repossessed if the payment is 30 days late?

Absolutely.


Can you be sued if you let your mobile home be repossessed?

You can be sued by the finance company to recover any money still owed to them after they auction the repossessed mobile home.


How do cars get voluntarily repossessed if they are not still in the same state they were purchased in?

The person who has the car calls the lender and tells them where to pick it up. the lender might say"just drop it off at XYZ dealership"....or they might send someone to your home to get it.


If the creditors repossessed a motorcycle and then DID NOT sell it at an auction do you still owe?

No you don't still owe; once the motorcycle has been repossessed, it is no longer your concern. Whether the creditor sells it or fails to sell it is the creditor's problem, not yours.


Can you still owe money after your motorhome is repossessed?

Absolutely. When an item is repossessed, it's typically auctioned off. The person who the property was repossessed from is still responsible for the difference between what the final auction price was and what the amount owed at the time of repossession was. Additionally, repossession, storage, and transportation costs will be added to the amount owed.


What can happen if you don't pay a title loan and you still have the car?

The vehicle can be repossessed.


Can you let a car be repossessed with scratches on it?

A car can still be repossessed if it has scratches or some slight damage. The current value of the car is normally used when netting off the debts.


How can you tell if your ex bf still likes you?

he still calls you, he asks friends about you, he calls you on your b'day or special occasions


Can your vehicle be repossessed after the loan and security agreement has expired but you still owe a considerable sum?

Loan and security will always be active against the vehicle. It never goes away until paid or repossessed. Yes, the collateral may be repossessed at any time.


Can you buy another car even though is repossessed?

If you have had a car repossessed, you have not kept up with the payments. You probably still owe money on the repossessed car. In these circumstances, the fact is that you can not afford to purchase another car and would not be able to obtain the finance to do so.


Are you still liable to pay if the vehicle is repossessed?

You are still responsible for the balance of the contract, in addition to repossession, collection, and legal fees. Added to this can be transportation costs, storage costs, auction fees. The car should be sold and the sale amount deducted from your contract balance. What ever is left is called a deficiency balance and your are still liable for it. Keep in mind that most repossessed vehicles are sold at a substantial loss (much less than for what is owed) and the additional fees can result in a higher balance than the original payout on the vehicle.


If a car was voluntary repossessed and the cosigner was not notified is the cosigner still responsible?

Yes. If you signed the loan, you are still legally responsible for it.


Can a car still get repossessed after 6 mths of not paying the note?

Yes. If you have not paid for it then it is not yours.


If he still calls his ex girlfriend?

Its not an ex-girlfriend. Maybe he calls for a bootycall


Do you have to pay the whole vehicle off if it is repossessed?

Once a car has been repossessed, you as the owner of the vehicle have the obligation to repay any amount still owed on the loan. Once a car is repossessed, it is often sold in a repossessed cars auction by the finance company. The amount which the car was sold for will be deducted from the total loan amount and then the difference will be owed by yourself. So yes you would have to pay the whole vehicle off if it was repossessed.