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Vehicles are put up for repossession in self-help states only after the loan has been defaulted upon. Provided you have made all of your payments, and these payments have been on time per the contract, then no. However, if you have ever been late on a payment, and you fall behind at anytime, the contract in most cases has been defaulted, and repossession may proceed. That a lender does not repossess every time a borrower falls behind is a testament to two things: one, it is an expensive and complicated process to repossess a vehicle; and two, they understand that people fall behind and are willing to allow people to pay current. Their interest afterall is the contract. They do not really want your vehicle; they want the payment.
What else can I help you with?
What are the differences between paying in arrears and paying in advance?
Paying in arrears means paying for a service or product after it has been provided, while paying in advance means paying for it before receiving it.
Can you take out a home equity line of credit with a cosigner?
Yes, as long as the co-signer is fully informed that if you stop paying the loan they will be fully responsible for paying it and thereby, paying for property they do not own.Yes, as long as the co-signer is fully informed that if youstop paying the loan they will be fully responsible for paying it and thereby, paying for property they do not own.Yes, as long as the co-signer is fully informed that if youstop paying the loan they will be fully responsible for paying it and thereby, paying for property they do not own.Yes, as long as the co-signer is fully informed that if youstop paying the loan they will be fully responsible for paying it and thereby, paying for property they do not own.
How can a second mortgage loan be discharged?
Any mortgage can be discharged by paying it off.Any mortgage can be discharged by paying it off.Any mortgage can be discharged by paying it off.Any mortgage can be discharged by paying it off.
Can bank reposses car after you paid 75 percent loan and i defaulted 2 month installments?
Quite probably. Because you have paid so much of the loan they might even find it more attractive to do so.
Does paying your car loan on time raise my credit score?
Paying a debt on time improves your credit score if you had previously not been paying on time (or not at all!)
Can the car lender reposses the car because of bankruptcy 7?
A creditor cannot reposses a car without BK court approval (i.e. relief from the automatyic stay). However, if you do not keep paying the car loan, a BK will allow a creditor to reposses the car.
When can a bank reposses someone's car?
When the "owner" stops paying for it, the bank will probably call repeatedly and may send something in the mail.
Can a dealer reposses a car for not paying deferred down payment that is not in the contract?
This is not your car. The down payment enables you to have the privilege of a contract. So, pay up.
After 15 days can a company reposses your car?
can a finance company reposses your vehicle if you made your payment on the15 day
How do you reposses a car if you do not know where it is?
You search for it.
Can they reposses your second car for the first defaulted car?
no
Can they come onto private property to reposses a car in minnesota?
Yes.
What do you do to reposses a motorcycle that you have a lien on?
Was not able to pay 2 monthly amortization
How do you reposses a car belonging to you?
Put key in, start car & drive away.
I'm getting a divorce I need to know if both our names are on the car registration can the wife reposses the car even though I'm paying for it?
If you're in California and both of your names are on the car you both have a say so in what happens to it. One may want to give the other half the blue book value or you may agree to give it to your wife in the divorce settlement. Whichever the case one must consult the other before they reposses, sell, junk, etc., the car.
If you are a cosigner on a car loan and the bank reposses how long is your credit affected?
Seven years.
If they reposses one of your cars can they take the other?
you can only reposses a car that has out standing payments. unless you are involved in crime and have profited through illegal activities then both cars can be repossesed.however if you have only defaulted payments on one car then your other car is safe.
