0
Is it unlawful for your car to be repossessed if you pay all that is due after the car is in repo status?
Perhaps it is. That's a maybe. Some loan contracts have a clause in them that defaults the car to the lender in the event the contract is breached. In these cases, the lender will pick up the car as soon as the borrower becomes delinquent in payments. Many of these lenders will not return the vehicle either, preferring rather to sell the car at auction, and collect the remaining balance through other means.
What else can I help you with?
What can a repo driver do Reposession driver calling all your friends?
It isn't unheard of for a repo company to call your friends to try and find out where you and your car might be. Some people try and hide their car from a repo company so that it can not be repossessed.
What happens if a noncombatant threatens your life?
They have given up their protected status They have become unlawful combatants They are legal targets All answers are correct
Can you get your car back after it has been repossessed in the state of Iowa?
Yes, there are some instances that a person can get a repossessed car back in the state of Iowa. If the person pays all the money owed plus a repo fee, the car may be returned.
How long can a repo company keep personal belongings?
They cannot hold your personal belongings. They might have a time frame of when they have to get it to you though. When a car is repossessed it is brought to the repo yard and then inventoried for belongings. There are usally several hundred cars at any given moment in a repo yard. All vehicles must be inventoried.
Can a repossessed vehicle be driven instead of towed I thought they were't supposed to add miliage.?
well of course when they go to repo an auto they are getting that auto by dragging it driveing it towing it by all means
If your car was repossessed and the balance is still 9760.61 but over the length of the loan of 72 months you were to pay 10967.78 in interest do you still have to pay if it is all interest?
Yes. Some is likely repo fees.
What is the difference between a car been repossessed or voluntarily surrendered?
AS far as your credit goes there isn't any a repo is a repo it stays on your credit for seven years.A voluntary repo can save you $200-300 in repo fees .You are still charged all the fees related to preparing the car for auction and auction fees etc. which run between $500-700 and up.And of course that is added to the balance after the the car is sold.
Where do repossessed cars get taken in seminole Florida?
They typically get taken to a secure location owned by the repo company. Once the lender has handled all the legal notifications it would be sent to an auto auction that the lender uses.
If you have 2 vehicles and one is being repossessed can they take your other vehicle?
If you have multiple vehicles, chances are they are not on the same loan. If you default on 1 loan and are current on the other they cannot repo the other vehicle. If they threaten you with they will repo your other car, or threaten you with saying such as you will be arrested. I suggest you contact an attorney and save any and all messages.
If your car is repossessed and you are able to get it back by bringing your account to date is it still reported as a repo?
That would be at the discretion of the lender(s). If an agreement is made and all terms are lived up to, the lender probably will not report the default to CRA's.
What is the catch in buying repossessed cars?
The biggest turn-off when buying Repossessed Car:As you already know, Repossessed Car Auction is a great way to buy your new car or other types of vehicle (boat repo auction, RV repo auction, ...); however, it seems almost too good to be true, because the price is very low. The catch lies in the fact that Repossessed Cars were taken from their previous owners by the government, so they are basically used cars. Therefore, you must take all the steps necessary to find out about the history or the damages of the repossessed car yourself.Why you should still go for Repossessed Car:The easiest answer is: because it is very cheap. Normally, you can find one at as low as $200. Furthermore, even though repossessed cars have been used, they were taken away because their owners couldn't pay the bills, not because they were damaged or got into accidents. Thus, most of the times you will find very good repossessed cars that are perfectly normal and usable. Still, remember to check its history and VIN number! Also, remember to visit websites like www.vehicleshq.com to prepare your knowledge before going to a real repossessed car auction.
If the bank sells the repossessed car for more than the amount of the outstanding loan are you entitled to the profits in California?
The UCC says the debtor IS entitled to any excess above what is owed on the loan. That will include all fees(repo,auction,attorney,ect)
