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Call the lender, and make some kind of arrangements. Do not let your car get repossessed. You will be responsible for the balance on the loan. no

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โˆ™ 2005-05-15 03:09:02
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Q: You have one day before your car is repossessed is there any payment options?
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You had two ATVs recently repossessed they want 6500 to get them back do you have any options?

You have none, except to get your payment account current. Remember, you DO NOT OWN the ATV's until you have paid them off in full. The lender owns them.


I paid cash for my vehicle and it was repossessed without any attempt to contact me am I entitled money back?

No, your down payment and any other payment you have made will be put to your subtotal for the car.


Car was repossessed with no letter of intent sent no notice of actionwas law violated?

Your car can be repossessed at any time without any warning if you aren't making your payments. It is probably in your paperwork in the fine print what happens when you don't make your payment.


How long before you don't have to pay off a car that was repossessed?

The lender will pursue collections for any unpaid balance for seven years from the date the car was sold after being repossessed. If the balance is large, they may pursue legal judgment. Obtaining this, they will have ten years from the date of judgment or last payment.


Can you sue for wrongful repossession of a vehicle when loan was paid in full over a month and a half ago?

Yes, if you have proof that your lender received your payment before your vehicle was repossessed. If you have this proof, you can sue them and get your car back and not be charged for any fees.


Is there any options if your check bounce on car down payment?

Immediately make the check good.


Can your car get repossessed if you are not 30 days late with payment?

Yes. Most lenders give customers 10 to 15 days grace to make a payment or for a payment made to post. However, by the language of most car notes, anything past a certain period of time (usually two weeks) is considered delinquent, and the balance of the loan is owed. The lender at this point is not required to accept anything less than payment of the remaining balance. And, the vehicle can be repossessed at any time to secure payment of the remaining balance.


How long before a vehicle can be repossessed?

This will usually be stated in the contract you sign when financing the vehicle. Some places, especially the "Bad Credit/No Credit" lots will attempt to repossess in as little as one day after payment is due. I don't see any financier letting it go for longer than 4 months with no payment be for they file for repossession.


Can YOUR car be repossessed when you object?

Yes. the title to car car remains with the bank or finance company. Legally they can take possession for lack of payment at any time regardless of your wishes.


What is the time period given before a car can be repossessed by a creditor in new york state?

Read the contract you signed. it likely states that when in DEFAULT, the lender can repo the collateral. Default is when you dont pay a payment as agreed or any other condition of the contract. No rocket science here.


Can a car still be repossessed in the state of California if it is your final car note before payoff of the loan and all late charges?

This is a very easy question the vehicle is not yours until the FINAL payment is MADE.When you are holding a title in your hand that has been legally cleared of any liens that is when you can stop worrying about someone potentially repossessing it for non-payment end of story.


If you cosign on a loan and they don't pay the bill and the car gets repossessed are you able to go after the primary debtor in court to make them responsible for any outstanding debt?

No. You cosigned on the loan. You are the bank's back-up payment if the first person defaults on payment and you become responsible. That is why it is very important that you trust the person you cosign for or you have the funds to pay for the car if they default. If you pay for the car, it becomes yours. Before it was repossessed, the bank should have notified you in writing. Then you have the option to take the car and pay for it. Both credits will by hurt substantially.

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