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Your truck was repossessed and you paid the back payments and they sold the vehicle anyway?
Wiki User
∙ 12y ago
THen I am sorry to say that you are out a lot of money. Once that car is repossessed, then your interest in it, and the finance company's interest in you is over. The car company will send it to auction and get back whatever they can, and put a black mark on your credit. Paying them one red cent after this charge off event will not help your credit in one infinitessimal way. As you noted, they sold your truck and auction so you can soon expect to get a letter telling you what it sold for and how much they lost on the difference. DO NOT PAY THIS AMOUNT. They are not expecting you to and, as I've said maying one cent on a charge-off account is a cent wasted.If you just had your truck repo'd and you still own your house and have a job, you should dtill be able to buy a car anyway. Just watch them jack up the interest rates
Wiki User
∙ 12y ago
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Can the colction take your semi truck if i buy one?
If you don't make your payments, they can be repossessed, the same as any other vehicle.
Are you still liable for the payments if your truck is repossessed in Alberta?
Yes you are
Can your truck be repossessed if you are using it for income?
Yes, your truck can be repossessed even if you are using it to earn an income, however, you can tell your creditor that you are earning money with your truck, and that if the creditor does not repossess the truck you will use that income to make payments on your loan. Of course, if you are not making payments, and spending all of your income on other things, then the creditor has no motive to let you keep the truck.
What to do if people missed sixteen days on a payment of a truck that they took payments over from a family member and then they repossess it without motifying you?
Well, a vehicle can be repossessed with no notification, so there's not much you can do about that. If the payments were taken over by family members, it's assumed the first family member was aware someone else would be paying for the truck and so is still responsible to see that the payments are made.
How do you find out if the truck you purchased was repossessed?
Start with some type of vehicle history report, such as Carfax.
Can a repo man take a truck and trailer?
Most usually they are empowered to take items where you haven't made the payments. If both the truck and trailer were being repossessed, then you are stuck.
If your workers truck was repossessed and he had your tools inside how do you get your tools back?
ask the guy that repossessed your workers truck for the tools that were in that truckask the guy that repossessed your workers truck for the tools that were in that truck
Where do you stand if repossessed truck is sold for less then the loan?
You are responsible for the remaining balance of what the vehicle sells for and what you owed when it was repo'd.
How can you buy a repossessed truck?
Go to bank or other place that repossessed the truck. Pay cash for it etc
What is special about the Repo Truck company?
There is no company with the name "Repo Truck", but "repossession" of a vehicle simply means the financial lending company "takes back" the vehicle, because monthly payments on the vehicle have ceased.
Your son is disabled and you live in Missouri you only have truck to get him to the doctors can the vehicle be repossessed?
Yes! if there is a security interest on the loan (the vehicle). when you buy or lease a vehicle, you sign your right away to the vehicle in the event that you default on the loan..it does not matter what kind of vehicle it is.
What do you do once your car has been repossessed?
I have a welding machine on the truck they repossessed can they keep that?
