You are fighting a loosing battle. They will eventually get the car. You use the term "Your Car". It is not "Your Car". The car belongs to the lender, as they put up the money to buy it. Remember that. You are hiding something that is not your property. You are just incurring more repossession fees that you will eventually pay. Be smart. If you cannot get this straightened out and catch up on late payments, then just turn the car in to the lender in a voluntary repossession and save some repossession fees. When you finance or lease a vehicle, your creditor holds important rights on the vehicle until you've made the last loan payment or fully paid off your lease obligation. These rights are established by the signed contract and by state law. If your payments are late or you default on your contract in any way, your creditor may have the right to repossess your car. Talking with Your Creditor
It is easier to try to prevent a vehicle repossession from taking place than to dispute it afterward. Contact your creditor when you realize you'll be late with a payment. Many creditors will work with you if they believe you'll be able to pay soon, even if slightly late. Sometimes you may be able to negotiate a delay in your payment or a revised schedule of payments. If you reach an agreement to modify your original contract, get it in writing to avoid questions later. Still, your creditor may refuse to accept late payments or make other changes in your contract and may demand that you return the car. By voluntarily agreeing to a repossession, you may reduce your creditor's expenses, which you would be responsible for paying. Remember that even if you return the car voluntarily, you're responsible for paying any deficiency on your credit or lease contract, and your creditor still may report the late payments and/or repossession on your credit report. Seizing the Car
In many states, your creditor has legal authority to seize your vehicle as soon as you default on your loan or lease. Because state laws differ, read your contract to find out what constitutes a "default." In most states, failing to make a payment on time or to meet your other contractual responsibilities are considered defaults. In some states, creditors are allowed on your property to seize your car without letting you know in advance. But creditors aren't usually allowed to "breach the peace" in connection with repossession. In some states, removing your car from a closed garage without your permission may constitute a breach of the peace. Creditors who breach the peace in seizing your car may have to pay you if they harm you or your property. A creditor usually can't keep or sell any personal property found inside. State laws also may require your creditor to use reasonable care to prevent others from removing your property from the repossessed car. If you find that your creditor can't account for articles left in your car, talk to an attorney about whether your state offers a right to compensation. Selling the Car
Once your creditor has repossessed your car, they may decide to sell it in either a public or private sale. In some states, your creditor must let you know what will happen to the car. For example, if a creditor chooses to sell the car at public auction, state law may require that the creditor tells you the date of the sale so that you can attend and participate in the bidding. If the vehicle is to be sold privately, you may have a right to know the date it will be sold. In either of these circumstances, you may be entitled to buy back the vehicle by paying the full amount you owe, plus any expenses connected with its repossession (such as storage and preparation for sale). In some states, the law allows you to reinstate your contract by paying the amount you owe, as well as repossession and related expenses (such as attorney fees). If you reclaim your car, you must make your payments on time and meet the terms of your reinstated or renegotiated contract to avoid another repossession. The creditor must sell a repossessed car in a "commercially reasonable manner" - according to standard custom in a particular business or an established market. The sale price might not be the highest possible price - or even what you may consider a good price. But a sale price far below fair market value may indicate that the sale was not commercially reasonable. Paying the Deficiency
A deficiency is any amount you still owe on your contract after your creditor sells the vehicle and applies the amount received to your unpaid obligation. For example, if you owe $2,500 on the car and your creditor sells the car for $1,500, the deficiency is $1,000 plus any other fees you owe under the contract, such as those related to the repossession and early termination of your lease or early payoff of your financing. In most states, a creditor who has followed the proper procedures for repossession and sale is allowed to sue you for a deficiency judgment to collect the remaining amount owed on your credit or lease contract. Depending on your state's law and other factors, if you are sued for a deficiency judgment, you should be notified of the date of the court hearing. This may be your only opportunity to present any legal defense. If your creditor breached the peace when seizing the vehicle or failed to sell the car in a commercially reasonable manner, you may have a legal defense against a deficiency judgment. An attorney will be able to tell you whether you have grounds to contest a deficiency judgment.
If that's where you park your car, that's where he will go to pick it up. ---- They may also monitor your post office box until someone shows up to pick up your mail, then follow them to you. Most will wait for an opportunity when nobody is in the vehicle before attempting repossession for their own safety.
Contact the lender they are the ones who call off the repo.
it is your matha so please hit on it once & you will get your ans.
i think its about 3 0r 4 months then they will call and ask you where can they pick up the car
The reverse repo rate is the rate at which banks park their short-term excess liquidity with the Central Bank, while the repo rate is the rate at which the Central Bank pumps in short-term liquidity into the system.
It can happen as soon as they find the car. Sometimes within hours.
repo men are allowed to be on the property... once they have possession of the car, it is legally theres.
Yes. once they repo the car the only was to get items back is to pay off what you owe
Yes, a repo can man can speak to neighbors about you. They can't give out any private information about you, but can ask if you are home and tell them they are there to pick up a vehicle.
call them a prick and run home fast !!!!!!!
Usually the bank has a list of repo companies they do biz with and they pick one to repo the car. Maybe the closest to the car, maybe the cheapest, whatever.
Get hold of whoever it is that you should have paid money to (bank, car dealer...). If you can, pay what you owe, or agree on another payment plan. Once you and the lender have reached a new agreement the lender can call the repo off, and you'd get to keep the car.
A repo worker does not normally pick up a vehicle unless he has an order from the lien holder (usually the creditor who financed the vehicle). If you own your vehicle outright with no liens against it, the repo person probably picked it up by mistake.
you should be able to contact the repo company and set up a appointment with no problem,note do this asap as the reo company may charge you a daily storage fee for you personal property due to them having to itemize your belongings and box them.the state of Texas may have a law which requires the repo company to mail you a letter with a list of your blongings,location and phone number of the repo company.make sure when you pick up your property that you check for all your items before you leave the location.Answeryou should be able to contact the repo company and set up a appointment with no problem,note do this asap as the reo company may charge you a daily storage fee for you personal property due to them having to itemize your belongings and box them.the state of Texas may have a law which requires the repo company to mail you a letter with a list of your blongings,location and phone number of the repo company.make sure when you pick up your property that you check for all your items before you leave the location.
No, the repossession agency must return your personal property undamaged. Usually you have to go pick it up. If your property is damaged, the agency should have insurance.
In the UK, if you have the residents permission you may park the vehicle on their property. This does not mean it is safe from repossesion.
The car is not yours, it belongs to whoever got the repo company to collect it. They can decide what happens to the car, if they instruct the repo company to break into it, then that's what will happen.
Not really, but a a repo man can with the right paper work scan and check come on to the base and take the car.
The repo-man doesn't have to give his name. He can only tell you which bank sent him & where you can pick up your car when bank okay's it
That's up to you. But if something happens to that car in between now and the time the repo man comes to pick it up, it'll be tacked onto what you owe already.
"both" the bank and repo man?? NOT that I am aware of. retaking, REPO??? usually charged by lender storage, USUALLY charged by repo co. repair (NOT normally done), sales expenses WHAT did who "SELL"??? READ YOUR CONTRACT. It should govern what you pay to whom.
Yes. The repo company I work for goes out of state at least once a month to get a repo because the owners have moved, I don't believe any state will stop a repossession just because the car was moved to a different state.
Repo rate is 7.25 reverse Repo is 6.25
repo is taking somthing away like the repo man in the new movie repo! the genetic opera theres an organ repo man who takes away peoples organs