Read your contract. Reinstatement is decided by the lender not the state. Michigan
TITLE STATE: 1975 and subsequent years. SECURITY INTERESTS: Shown on title held by debtor. LICENSE REGISTRATION: Michigan Bureau of Driver and Vehicle Records, 7064 Crowner Drive, Lansing, Michigan 48918. Tel:(517)322-1460. RECOVERY REQUIREMENT: As per UCC, repossession allowed without committing a breach of the peace. Repossesses must hold valid collection agency license & Regulation, Collection Practice Board, P.O. Box 30018, Lansing Michigan 48909, (517)241-9239. DOCUMENTS REQUIRED FOR PLATES: Remain with debtor.
state website = "www.state.mi.us"
Did you give it back to the finance company? If you still have the car, job or no job, they will be expecting a payment every month. You may be able to call them and make payment arrangements with them.
Yes. If the payment is made to the finnance company.
The only way to get a repossessed truck back in the state of Indiana is to pay the balance owed. Sometimes, you can contact the lender and make arrangements to get the truck back without paying the whole amount.
You will have to contact the holder of the loan and make arrangements to get current and pay the penalty BUT They can refuse anything less than 100% payment with additional fees because they had to spend the money to repo it.
It gets repossessed again.
No, your down payment and any other payment you have made will be put to your subtotal for the car.
Yes, furniture can be repossessed if you start making payments again after 6 months, especially if the missed payments are not caught up. The creditor can refuse the payment if court proceedings are already in progress.
get it back?? prolly, depends on your payment record,ect. They really dont want the car, they want the MONEY. How long?? a day or two
If your car has been repossessed by the bank for missing payments, the quickest and most efficient way to retrieve your vehicle is to contact the bank and make your back payments. When contacting the bank about back payments see if there is a new payment plan system that you can set up with them that is more beneficial to you, to avoid having the car repossessed again.
Personally, I would contact the lender and describe the circumstances and either pay the back amount or make arrangements with them.
Ultimately, in every state, that's up to a judge.
Phone the company, explain the dilema and negotiate payment terms. If they are unflexible, hand back the car and get a bike. Or, you can make arrangements with your employer to advance the money to you out of your next paycheck.