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NO. If the lender is trying to repo the vehicle and they can't find it,they cannot report it as stolen. Only the owner can do this. "STOLEN" is defined as "unlawful taking". You did not "take" the vehicle unlawfully. If you refuse to surrender the vehicle the lender may get a judgment (Writ of Replevin) and have the Sheriff's office come knocking on your door and only then will you have to surrender the vehicle or tell them where it can be located. Why stress over a vehicle? The value keeps going down and there are plenty of cars out there to buy. If for some reason, such as illness, loss of job, etc., where you cannot make the payments and no hope of making up the late payments, call the lender and have them pick up the vehicle. You'll get another vehicle one day. Just remember to remove your belongings and the plates. If you added anything on the vehicle you can remove that to. The lender doesn't know if you put in a new stereo system, and the car and everything in it is yours until it is returned.
What else can I help you with?
If you loan your car and it is not returned is it stolen?
it is if you report it to the police as stolen
If your car is up for repo but is stolen before you return your car what happens?
When your car is 'stolen", you file a stolen car report with the cops. Then your INSURANCE will pay off the loan. The lender will deal with the insurance co. and alls well. You dont have a car, but no payments either. BTW, the insurance co. HAS to be sure its stolen or they wont pay the loan off.
What can i do if i am listed as a cosigner and my spouse took the car and left the state?
i would report it stolen. if the payments are made the loan company can and probably will come after you for the money. If you report it stolen to the cops you can at least report it to the insurance company and the loan company and that should remove your responsibility.
Can a lien holder report the car stolen for being behind in payments?
Of course not. The car has not been stolen. But guess who is going to have to make the payments if the primary lender does not. You the cosigner, that's who. I would suggest you talk to the person you cosigned the loan for. If I were going to have to make the payments I would for sure try to gain possession of the vehicle. This is the very reason cosigning is a bad idea.
Can a creditor sell the title to an auto loan that has gone into repossession and claim that the vehicle was stolen?
The creditor is the lender. In most states, they have a lien on the title to secure the loan, but are not the title holder themselves. It is fair to say they cannot sell something they don't have. If a loan is in default and the security for it is repossessed, the title can then be gotten by the lienholder and sold to provide funds to payoff the loan. The creditor is the lender. In most states, they have a lien on the title to secure the loan, but are not the title holder themself. It is fair to say they cannot sell something they don't have. Why a creditor -bank- would then ever report a car as stolen, I can't follow. Presumably you mean the debtor or borrower wants to report his car as stolen and also sell it. Can't sell it without providing the title. can't provide a clear title without paying off the loan. If you did sell it somehow...then it wouldn't be yours to report stolen would it? If you don't sell it and report it stolen when it really wasn't, this is highly illegal. You can't use it yourself, nor can anyone else. Anyone in the car will be in a stolen vehicle. Grand theft is the term that comes to mind. And when the car is in the possession of the one that reported it stolen, or someone that shows that person knew it wasn't - even worse actions will result to them. But simply, this is the type of thing that is easily discovered and doesn't do any good anyway. That the car was stolen does NOT stop the borrowers obligation to pay back the loan in full and on time anyway.
Can derogatory information remain on your report due to upaid tickets if you were'nt the one who got them and were unaware they existed until posted to your report?
you can request a hearing with the dmv, were these parking tickets? DId you have licencse plates stolen? Did you loan car out? you can request a hearing with the dmv, were these parking tickets? DId you have licencse plates stolen? Did you loan car out?
If a person is 4 months late on a car payment can it be reported stolen?
NOT unless it was stolen. Stolen cars are reported stolen. Cars securing a loan in DEFAULT are reported as DELINQUENT to the credit bureau. If you choose to report the car stolen, go ahead. I would not reccommend it though. Filing a false police report is illegal in most jurisdictions.
What can you do if husband took car and car loan is under your name?
Call the bank. Explain the situation. Try to get the loan transferred into his name. If he doesn't co-opperate, call the cops and report it as stolen.
What do you do if you loan your car to someone and they don't return it Can you have the car repossessed?
You send them a certified letter demanding return of the car within 3 days. If no response, report it stolen.
Can the bank report the car stolen if you default on a car loan?
NO, it wasnt stolen. No, why would they report it stolen? If you default on the loan they will simply have it repossesed in order to sell the car and recoup some (and if they are lucky all) of the funds needed to payoff the debt. Yes they can actually. If you are leasing or financing you signed a contract. Once you default on that contract, the contract can be deemed void and therefore your rights to drive the car can be terminated. If they are unable to reach you and you are "not cooperating" they have the right to report their property as stolen in order to get the vehicle back. For further help, look over that contract you signed. = )
What if you report the car stolen and its not?
You are committing a crime if you knew the car not to be stolen.
Can a lien holder report a vehicle stolen?
not really sure on this one but in order for the lien holder to have the vehicle in his/her posssision it had to be repossesed... and then it was stolen while it was in their possession then i would say yes.. but other wise cant really see a reason why the owner would not be the person that reports it to be stolen..... if in fact the car owner is deleinquent in payment and the car is reported stolen and the car owner goes to jail that is false imprisonment and you can sue..
