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A title will only be given to the borrower when the financial agreement has been paid in full or the lender has accepted a different agreement offer. A clear title cannot be issued to the borrower until the lender/lien holder signs it over.

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โˆ™ 2006-03-02 03:32:57
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Q: Your car company has paper work stating that your car was repossessed and sold at auction but in reality you still have possession of the car because they did not want it how do you get the title?
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Related questions

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.


When a vehicle has been repossessed and taken to the auction does Honda carry insurance on it?

Not only does Honda have insurance on the vehicle, so does the repossession company, the storage company, the transport company, and the aution agency.


In pa when a vehicle is repossessed does the finance company have to tell you what their doing with the vehicle?

Usually, they do not have to tell you what they are about to do to your vehicle. But, the procedure is is that they will sell your vehicle in an auction.


Who is responsible for a vehicle that was repossessed and wreaked on the way back to the dealership?

who ever was in possession of the unit. I assume the repo company was in possession and if they are legit, They have more than enough insurance to cover any damages.


When cars are repossessed where does the finance company have them taken?

They usually take them to auction after a brief storage period either at the collection agencies or lending institutions yard.


If your truck is repossessed in Oklahoma is the finance company reqiured by law to get as much of the owed balance as possible.?

No. They will sell the truck at auction and it will bring what it will bring. You are then responsible for the balance.


How do you get a repossed vehicle back?

If your car is repossessed and you want to get it back, you can contact the finance company and clear any outstanding payments. They may agree to return your vehicle to you if they have not already sold it but be warned that lenders try and sell repossessed vehicles as quickly as possible to try and recoup funds. The finance companies often sell the repossessed vehicles at a car auction. Here they can be sold "as seen" and at a lower price than market value, thus they can be sold quickly. It is often possible to find out which auction your car is being sold at and you can get your repossessed vehicle back yourself by attending the car auction and bidding.


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.


How does voluntary repossession work on an RV in NC?

Instead of having it forcibly repossessed, you call your finance company and tell them you're voluntarily having it repossessed. They may send a tow service to collect it, or they may ask you to take it to the repossessor. It'll be repossessed, auctioned off, and the amount they get from the auction will be deducted from the amount you owe. The finance company may offer a settlement at that point for an amount less than what you owe on that vehicle - that's up to the finance company.


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.


Can you sell your car after the car has been repossessed?

No. A car is repossessed because you failed to finish paying for it. Since you never fully paid for it, it's not yours. No. You do not own the car once it has been repossessed. To sell the car you would need the title, which is in the hands of the finance company. After a repossession, usually 30 days later the finance company places the car in an auto auction. There it is sold to the highest bidder. In the rare case that the net proceeds from the sale exceed what you owe for the car (plus interest, penalties, repo fee, etc.) the finance company has to send you a check. If you can redeem the car by paying the full past due amount plus interest before they place it in the auction sale, then you can sell the car.


Can a car be repossessed without you knowing it?

yes because the finance company knows and if you know it may cause problems


Can a company legally refuse full past due payment plus repo fees after the car has been repossessed?

Yes, this is because the loan agreement was voided when you were late with one payment.The lender has decided to auction or sell the car even though you can bring the loan current,they can do this.


Where do repossessed cars get taken in seminole Florida?

They typically get taken to a secure location owned by the repo company. Once the lender has handled all the legal notifications it would be sent to an auto auction that the lender uses.


Where is the car after repossession?

It depends, but as a general rule, the finance company that repossed it will keep possession of it, either on their own lot or at an auto auction for a certain number of days (usually 30-60) unless you pay the balance to get it back. After that, they will send sell it at auction and you will owe any deficiency balance. In other words, if the balance on the car is $7000 and it sells at auction for $5000, you will still owe $2000 to the finance company.


If you own two cars and are able to make payments on only one and are letting one get repossessed can the finance company for the repossessed car do anything toward the remaining car?

Possibly yes. They can resale your repossessed car dirt cheap and sue you for the difference in what you owed and what they got for it. Then they can sue you to collect that difference. If they win the suit they can have the sheriff pick up anything you own to sell at public auction to help pay that money they supposedly "lost". It's possible but not real likely. It depends on the mob that runs the finance Company


What happens when the bank takes possession of a company?

If a bank is on the brink of taking possession of a company, chances are the company is in financial trouble. When the bank does take possession it usually means that the company has gone into foreclosure. They will then sell the property and the company owners will need to settle their financial issues.


What is the tow company in the show Repossessed?

Jam Recovery Inc.


Does a repossession company get paid if car is not repossessed?

Some do, most do not.


Is it still possible to get your vehicle back after the repo has occurred?

In Canada the answer is yes if it is repossessed by a bank (or credit institution). Any car that is re-possessed by a bank or credit company has to be put up for auction. You can always get your vehicle back if you pay whatever arrears you owe the bank as well as the the fees that the bank had to pay to the repo company before it is sent to the auction house. However, you do need to act quickly. I have never heard of anyone getting their vehicle back once it is up for auction (and in Canada the auction companies used by banks are only open to car dealers).


Does a finance company have to auction a repossed car in Florida?

Yes, a finance company or a bank is required to send the vehicle to an auction to dispose of it.


When someone hires a company for an estate auction, is the company responsible for security of the property?

Yes, it is customary for the auction company to be responsible for the security of the property. Additionally, many auction houses have insurance for this specific purpose. In most cases the auction company will secure the property to avoid any problems. Read your contract carefully this is not always the case.


How can I Auction a home in Florida?

You have to be a licensed auctioneer to auction a home, look for either a local or national auction company in your area.


Do you still owe money on a car in which they broke the ignition during repossession?

from akacastro: No, if you no longer want your car. The towing company is either a subcontractor of the Auction dealers who were contracted to eventually sell your car, or the lending institution. If you plan on reinstating your vehicle, the lending institution or AUCTION dealer or towing company is fully insured while the vehicle is in their care or possession.


What happens if you can't pay any remaining balance on a repossessed car and do not have a job?

The car will be sold at auction. Whatever it sells for at auction will be deducted from the balance remaining. The credit company may initially offer to accept a reduced amount on the balance, but, if you're unable to pay that, they will turn it over to collections for the full amount of the balance remaining.