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If you pay by cheque, yes he can make you wait until your payment "Clears"
Every State and Provence has the repossession rules posted on the net, check yours carefully, it is likely he is actually selling your car and keeping the extra to cover the shortage on the note. And that might be fraud.
What else can I help you with?
Do you have an opportunity to make good on the payments and recover the vehicle in California once a car has been repossessed?
YES, you should get a notice from the lender outlining what ya need to do.
Can your car be repossessed if you lose your job?
No, but your car can be repossessed if you don't make the payments.
What is the process for an FHA repossession of a property?
The process for an FHA repossession of a property involves the lender initiating foreclosure proceedings due to the borrower's failure to make mortgage payments. The property is then repossessed by the lender and sold to recover the outstanding debt.
Can a disabled person's vehicle be repossessed in Florida?
A disabled person's vehicle can be repossessed just as any other person's vehicle can be repossessed. You must make all payments on your vehicle if you want to keep it.
What are reasons for a car to get repossessed?
If you don't make your car payments.
How do you recover from throat infection?
usually in a week. You might use some over the counter stuff take make it last seven days.
Can you make a profit on a repossessed car?
Yes you can make profit on the car if you buy it from the bank.
Which sort of bankruptcy should one use to retrieve a vehicle in Florida that was repossessed yesterday?
A vehicle is a secured debt, therefore bankruptcy action would not reverse the repossession. Bankruptcy only places a temporary halt to repossession or foreclosure of secured property. The only option available to the borrower to recover a repossessed vehicle is to reaffirm the lending agreement or make some other type of settlement with the lender.
Car repo in ny?
A car can be repossessed in the state of New York if payments are late or defaulted. The only way to not get a repossessed is to make your payments on time.
When a car is voluntarily repossessed legally do they have to wait 21 business days to sell it at auction or just 21 days?
Dunno. What state are you in? That could make a big difference. UCC only says they have to do it in a "commercially reasonable manner". I'm in South Carolina
How can you keep your car from being repossessed if it is 65 days over due?
Pay off the remaining balance of the loan. Make sure you have a receipt or put on the check, "Endorsment acknowledges payment in full."
What does repossession of car mean?
When a car is repossessed it usually means the owner is no longer able to make the payments. It is repossessed by the dealer or the bank in which to owner has the loan through.
