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Can you report a car you co-signed for as stolen if the borrower has it and is hiding it so it does not get repossessed?
WAS it stolen from YOUR possession? IS your name on the TITLE as co-owner? If you are NOT on the title, it cant be stolen from you or the lender. Best thing you can do is help the repo company find where it is hidden. Most states have laws prohibiting "Hindering a Secured Creditor". Check the g/f house, the gramma house,the coke dealers house and the "best" friends house. Cars dont just fall off the face of the earth.
Can you report it stolen if your name is on the title but the other co-signer on title has possession of it and will not give a physical address of where the vehicle is and has left the state and is trying to hide the car from repossession. You have no addresses or phone numbers to reach the party in possession of the vehicle and friends and family of that party will not give you any information. What can you do in that case?
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i have the same problem as the statement above me^^^^ the credit people will not give me any information about the owner of the car i co signed for, and do not know what to even call it -that kind of case- to get a lawyer. the girl is still in the state, but i have no information at all.. and she's 3 payments behind for 2 years, i want to surrender the car, and do not know if i can sue her for the collateral bill afterwards just to be compensated for the destruction of my credit. you may need to reread this a few times, its one big problem, and then an option for a solution in question. please thank you
What else can I help you with?
Is there somewhere to report someone who is hiding a vehicle from being repossessed?
Sometimes its easy and sometimes not. Dont go out of your way to do it. It will get found.
If your daughter's car is in your name and she is not paying can you let it get repossessed without ruining you and your spouse's credit rating?
No. You are the primary borrower, and it will be entered as a repo. on your credit report.
They repossessed my truck but are now saying they didn't what can I do to prevent myself from going to jail for hiding a truck I know they repoed?
If you aren't hiding it and they didn't repossess it then it has been stolen. Call the police and report that your truck has been stolen.
How do i report a repossessed bike?
If it's repossessed, it's repossessed... there's nothing to report. As long as there's a lien on that vehicle, the lienholder is the rightful owner of it, and can reclaim their property.
How long does cosigned studen loans stay on your report?
They stay on your report until the loans are paid off.
Why do late payments on a loan you cosigned for affect your credit rating and what can you do about it?
By being a co-signer you become a co-debtor. Therefore if the primary borrower defaults it can reflect on your credit report. There isn't much you can do about it, except try writing a dispute letter, that's a longshot.
Do you have to pay the balance of your car loan after it is repossessed?
yes you do so the bank or dealer wont report it to creditors. When a vehicle is repossessed it must be legally sold for the fair market value, or as near as possible to that price. The amount obtained by the sale is applied to the remaining balance of the loan. The borrower is responsible for any deficit amount plus applicable fees. A repossession is almost always entered on a credit report.
How long does it take for a car to be repossessed after the request was made to repossess it?
The time frame depends upon the lender. Regardless of whether the repossession is voluntarily done by the borrower or a forced repossession by the lender the consequences remain the same. The borrower will be responsible for any deficiency between the amount that the repossessed vehicle is sold for at public auction and the remaining balance on the loan agreement including added fees and penalties. The respossession will also remain on the borrower's credit report for the required 7 years. Be advised, a lender has no legal obligation to recover the vehicle but can instead file a lawsuit against the borrower for the entire amount of the loan plus legal and other associated costs.
If you're married and your husband's car is soley in his name and was repossessed will it show on your credit as repossessed?
No, because you have your own separate credit report.
Can a person who holds title to a vehicle have it repossessed from someone driving it as a loaner?
Report it stolen.
Do the mortgage show up on credit report for co borrower?
Yes, a mortgage can show up on a credit report for a co-borrower. When individuals co-sign a mortgage, both parties are responsible for the loan, and it typically appears on both of their credit reports. This means that the mortgage payments and any associated activity can impact the credit scores of both the primary borrower and the co-borrower.
How does a lender utilize a credit report in the loan approval process?
A lender uses a credit report to assess a borrower's creditworthiness and financial history when deciding whether to approve a loan. The report helps the lender evaluate the borrower's ability to repay the loan on time and manage their debts responsibly.
