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The Lien holder can repossess the car any time the owner has violated the contract. Violations could be but not limited to:
- Late or missed payments
- Not insuring the car as agreed in the contract
When repossessing the repo guy can not trespass nor use intimidation or threats. But you need to give up the car immediately as once you are officially notified the lender can take further legal action and possibly charge you with theft.
What else can I help you with?
How long does a repossession in Mississippi stay on your credit report?
By federal law, 7 years from the date of repossession or sale or last payment. The state is irrelevant.
Is there an Auto Repossession Statute of Limitation in Mississippi?
As far as I know there is no statute of limitation on auto repossession in any state. Check with your state Attorney General to be sure. I will post a link for you to read. Repossession should be your last resort. Hiding a vehicle from repossession is a crime in some states. The consequences of repossession are always bad for you.
What are the laws on mobile home repossession in Mississippi?
In Mississippi, the laws regarding mobile home repossession involve specific procedures that must be followed by lenders. If a borrower defaults on a loan, the lender must typically provide a written notice of default and an opportunity to cure the default before initiating repossession. The repossession process usually requires a court order, and the lender must comply with state laws regarding the removal of the mobile home. Additionally, Mississippi law allows for a deficiency judgment if the sale of the repossessed mobile home does not cover the outstanding debt.
Does state of Nevada have a auto purchase rescind law?
new purchase not in repossession
If a car is sold after repossession does law state that it must be reported to the bureau as zero balance?
If a car is sold after repossession does the law states that it must be reported to the credit bureau as zero balance?
Manufactured home repossession law in state of Oregon?
repossess manufactured home in oregon
65 percent law Mississippi new bills 2010?
was the law change from 85 to 65 for the state of mississippi are will in june
In which state did Lincoln live and practice law?
Mississippi
Does the state of Mississippi allow you to take the law bar exam without a law degree?
no.
What can happen if you hide a vehicle from the repossession agent in Mississippi?
repesession
What is the state of South Carolina law on right to cure?
Need to know if South Carolina is a Right to Cure State when it comes to repossession of vehicles.
Can you collect a repossession fee if you do not send a pre repossession letter in Maryland?
In Maryland, a repossession fee cannot be collected if a pre repossession letter was not sent to the debtor. The letter is a legal requirement that must be provided before repossession can occur, and failure to send it could invalidate the repossession.
