The lender can sue you in court and obtain a judgment lien. It can use that lien to sieze any other property you have to satisfy your car debt.
Do you have a repo contact at BoA? I am going to have the same problem. norris7875@live.com
Slightly confusing question. If YOU are the leinholder, why is the bank trying to repo the car? Why does the bank not know the laws of repossession in MI? If you(the leinholder) are trying to repo the car, CALL your attorney. You will need her/him to perform this LEGALLY.MI and CANADA are NOT good places to LEARN the repo business for beginners. Good Luck.
If the bank made a mistake they will return the vehicle to you, the repo company is under a hold harmless and work the accounts the banks give them.
Yes. For any amounts not recovered insluding repo costs.
Well at this point if a repo agent is there to recover a vehicle or property, You no longer own your car or property the BANK does. If a repo agent gets proper authorities "police" and have paperwork stating the bank owns it the authorities can impel you to open your garage because now you are in possession of stolen property fully owned by the bank. but they also must give you a option to pay it up to date.
Yes. If he has a repo order, it is no longer YOUR truck.
they will repo it
The bank/lending company are the ones who repo your car the repo chimps are just their agents.Your bank should tell you.
NO. Have him arrested if he did that. _____ Sue the lender/bank do not waste your time with the Repo guys; they are agents of the bank so the bank is responsible for their conduct.
As of October 12, 2010, according to the Reserve Bank of India... repo rate 6.00% reverse repo rate 5.00% overnight call money 6.24%
The current Repo Rate is 6.5% and that of Reverse Repo Rate is 5.5%. While the Bank Rate is 6.00% ..
the repo rate is the rate that the reserve bank lends money to commercial banks