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You work for a finance company that reposseses a car that was in default of the agreement this morning The customer then came and stole the car back you called the police but told that it was civil?
Wiki User
∙ 14y ago
Yes, it is a civil matter.
Who owns the car is a matter of the contract between the purchaser and your finance company.
The whole concept of "repossessing" is shaky, as in theory, they should civilly sue the purchaser for breach of contract. However, by taking the car by stealth or bluff, they put the burden on the purchaser to sue them for breach of contract.
However, in your case, the unbelievable happened. Your company failed to secure the car after having got it back. It is difficult to feel sympathy, as it was your company's error.
You may sue him for it back, which will mean the very civil suit you sought to avoid before. Or you may try again. If you do, try and hide the car next time, or transport it to it's terminal destination at once.
Wiki User
∙ 14y ago
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What happens if you are in default on a car title loan?
The creditor reposseses the car, and you take the bus.
Can you refinance if you are currently in a forbearance agreement?
Yes, if your credit score is pretty decent (550 or so). In fact, it's probably better to refinance than to enter into a forebearance agreement because you will be in default if you miss even one payment and the mortgage company may secure a default judgment against you WITHOUT YOUR KNOWLEDGE!
What kind of agreement is a credit default swap?
The agreement for a credit default swap is a document that states the buyer will reimburse the holder in the event of a loan default or other credit event. This is essentially insurance against someone not paying you what you are owed.
What is trust base in shipping organization?
Trust base shipping in an organization is the shipping a product out before receiving a payment or on a verbal agreement to pay. It is a risky way to do business because a customer can default on payment.
What is a default letter and an order of consent in relation to bankruptcy?
A default letter is a letter to say you have defaulted on a specific loan or obligation. Meaning you have not been making the payments needed. An order of consent is a document that is created of an agreement between you and company you have defaulted on payments.
What is collateral agreement?
A collateral is nothing but any asset (Bank deposits, your house, jewels, machinery etc) that the bank can convert to cash by selling it if you default on your loan repayment. The presence of a collateral enhances your credit profile and improves the chances of your getting the loan. An agreement wherein, the loan customer accepts to the conditions of the loan granting banks control over the collaterals is termed as a collateral agreement
How can a company place a lien on a house when a roofing company doesn't pay it's bill?
Not sure that you can go to the roofing company's customer. Most roofing companies buy supplies in their own right, and may have incorporated, protecting their personal property, if they default. You will do better to try to attach the company's assets.
What is the name of the default account that is used when entering a customer?
sale tax
Lease and Buy Agreement?
Lease and Buy Agreement(Download)______________________, referred to as LEASING COMPANY and ______________________, referred to as CUSTOMER, agree:CUSTOMER shall lease from LEASING COMPANY the following items:_____________________________________________________________LEASING COMPANY shall purchase the items set forth above as CUSTOMERS agent. LEASING COMPANY provides no warranty upon the goods, and the sole warranty shall be that offered, if any, by the MANUFACTURERS and sellers of the leased equipment. The equipment shall be located at:_________________________________________________________________and may not be moved without prior approval of LEASING COMPANY.All expenses of delivery, set up and taxes of the leased goods shall be paid directly by CUSTOMER to the providers of such services.CUSTOMER shall maintain insurance coverage, at its expense, upon the leased property with broad form coverage through an insurance carrier authorized to transact business in the State of ________ acceptable to LEASING COMPANY, which approval shall not be unreasonably withheld.CUSTOMER agrees to pay LEASING COMPANY the total sum of $____ (_______________&___/100 dollars) in consideration of the lease of the equipment, to be paid in ____ installments due ______________, with the first payment due on __________________.Upon the failure of CUSTOMER to pay any installment due, or to comply with the provisions of this lease agreement, the LEASING COMPANY may accelerate the payment of all remaining sums due. The CUSTOMER shall pay all taxes and levies upon the equipment.Any payment late by 10 days will incur a late charge of 5% of the face amount of that payment as described above.Upon default the LEASING COMPANY may take possession of the leased items, and may enter the premises of CUSTOMER to do so.CUSTOMER shall have the option to purchase the leased equipment at the conclusion of the term of the lease, provided that all payments have been made, for the sum of $________(______________& ___/100 dollars). Should CUSTOMER decline to exercise this option, CUSTOMER shall return the equipment, at its expense, to LEASING COMPANY.The customer shall be responsible for all maintenance upon the leased items, and shall keep the equipment in good operating condition.Upon default, CUSTOMER agrees to pay any and all costs of collection including attorneys fees incurred by LEASING COMPANY. CUSTOMER shall not move the leased items without the prior approval of LEASING COMPANY.CUSTOMER agrees to execute financing statements or other documents reasonably required by LEASING COMPANY.Dated: ______________________________________________________________________Customer______________________________________Leasing CompanyLease and Buy AgreementReview ListThis review list is provided to inform you about this document in question and assist you in its preparation. This is a lease agreement intended to help a customer buy a large item. It is set up as an installment loan, with leasing provisions, and will work fine as long as the customer makes the payments. The simplicity of the agreement will make it easier for the Seller to entice the Buyer into buying. The agreement provides for repossession, late payments, collection costs, and the like.1. Make multiple copies. Each signatory should get one. Keep one in the related file.
What does the company 'first credit' do?
The company 1st credit is a personal consumer debt management company. 1st Credit purchases and collects portfolios of personal consumer debt that have reached a financial default status. 1st Credit then provides services for tracking a customer to pay up.
Can a cosigner of a house rental agreement be sued in Wisconsin?
They can be sued for a breach of the agreement. Co-signers are equally responsible for any default regarding a lease.
If I default on my personal loan agreement, can they repossess my collateral?
Your property can be subject to repossession if you default on a loan. This can be the case if you put up part of your collateral as a guarantee for your loan.
