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In California what happens if a vehicle has been charged off and it has been over a year and you still have it but there has been no contact or correspondence from the bank regarding a repossession?
It might get repossessed.
Can you still owe money after your car is repossessed because of the recall?
If it is repossessed, you will owe the difference between the loan amount and what they sell the vehicle for.
What can happen if you don't pay a title loan and you still have the car?
The vehicle can be repossessed.
Can you still owe money on a car that was repossessed and resold to another buyer?
yes. When a vehicle is repossessed by the bank it doesn't mean that you stop making payments. You are still liable for the loan.
Can your vehicle be repossessed after the loan and security agreement has expired but you still owe a considerable sum?
Loan and security will always be active against the vehicle. It never goes away until paid or repossessed. Yes, the collateral may be repossessed at any time.
Do you have to pay the whole vehicle off if it is repossessed?
Once a car has been repossessed, you as the owner of the vehicle have the obligation to repay any amount still owed on the loan. Once a car is repossessed, it is often sold in a repossessed cars auction by the finance company. The amount which the car was sold for will be deducted from the total loan amount and then the difference will be owed by yourself. So yes you would have to pay the whole vehicle off if it was repossessed.
Do you still owe title loan after vehicle is not working and repossessed?
YES! Including any interest.
You received a ticket for no proof of insurance and expired tags However the car was then repossessed by the bank So you cant obtain insurance on the vehicle to show the court How do you clear this?
Actually, if you move quickly, you can still secure insurance on the vehicle. Here's what you do:You will need the vehicle registration, so if you are like the 99% of us out here who leave it in the glove box, go claim your property and get the registration.With the registration, get your insurance.renew your tagsClear it with the court.If after a couple days you do not intend to redeem the vehicle, cancel the insurance.
Can you buy a car that is repo from a friend?
Provided the lender still holds the lien on the vehicle, it will still be repossessed and you will find you have a problem with a former friend.
Can you still get insurance and registration if your hiding from a loan company on a vehicle?
If you have defaulted on your loan and not returned the vehicle, then you have basically committed a theft.
Can a vehicle still be repossessed if written off?
Yes most likely. If the lender is still on the title, if not then they cannot, without some sort of court order.
If creditor has threatened to repossess if a certain amount is not paid and you have paid partial can the vehicle still be repossessed?
As long as the contract is in DEFAULT, the collateral CAN be repossessed. One dollar or one day. Its a GAMBLE you take when you are in default.
