Depending on the damage that the car has, it may happen if there is not much damage but if the damage out prices the worth of the car, probably not. But, you will still have to pay for the damaged car even if it is totaled.
The Lender may or may not want to repo a wreck. Bankruptcy, same deal. Call the lender, tell them what the car looks like, and let them decide. ___ File bankruptcy if you are buried in unsecured debt, not to save the car. Especially a wrecked car. ___ "Repossession" looks slightly better (not MUCH better) on a credit report than a Chapter 7. Let it get repossessed.
Considering that the LENDER will be the one to report it as a "repo", wouldn't it be best the discuss it with the LENDER?
What happens now is up to the LENDER. They may or may not want the wreck, but they certainly will want THE MONEY owed on the loan,
You pay the LENDER what you are behind and the repo fee and go get it.
No, the car has a lien on it. You cannot legally sell without a lien release from the lender. Be careful, you will get into serious trouble trying this. You can sell the car if the lender agrees but if they are trying to repo it i doubt they would agree to a sale at this point.
The DEALERSHIP won't repossess the car, but the lender might if you don't make the monthly payments as scheduled.
If they have a judgment against you, yes.
It isn't YOUR car until you have paid the lender.
It all varies by your state laws. but normally the lender will search for repo and towing companies in the area where they think you are and they search for you and come and tow your car to a tow company or repo company lot, then they contact your lender, so you need to contact your lender to arrange payment or to get your stuff out of your car. Hope This helps Adam OUT
Contact the lender they are the ones who call off the repo.
The lender has to get the STAY lifted before they can repo.
yes they can stop you , you need to return the car back to the lender in other for you to register a new car.