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A car repossession happens when a person falls behind on their car payments and the finance company reclaims the car. The goods they are paying for on a recurring basis are not legally theirs until payment has been paid in full. Until this happens, They will not be classed as the 100% rightful owner of the goods until the lien is removed.
When the payments as stated in the agreement are not paid accordingly the repossession of the goods can be taken into effect. When this happens, then a lender can take legal action against you for the money owed to them. Some agreements allow you to miss one or two payments which can be added on at the end of the term. Please be aware that, your finance company can take your car back after missing one payment.
http://www.carrepossed.com
What else can I help you with?
Can lexington law remove repossesion off your credit report?
No they can't.
If you are willing to pay half of what you owe on the repossesion would they settle for that?
You would have to contact them and ask that. Likely not though.
How long until im evicted in repossesion?
The new owner or bank can evict you 24 hours after taking possession of the property (usually the foreclosure auction).
How late does the debtors payment have to be before it is considered for repossesion?
Legally? One day. Some loan agreements will have a late payment period that might be ten days. Read your contract for specifics.
How bad is a repossesion for your credit?
this is common sence yes it is every 30 days late goes on your credit and a repo is very bad you can get a nother car but you will have to put more money down and have a high interest rate.
What actors and actresses appeared in Repossesion - 2013?
The cast of Repossesion - 2013 includes: Ashley Campos as Darlene
What are the release dates for Repossesion - 2013?
Repossesion - 2013 was released on: USA: 13 August 2013 (internet)
Private property repossesion?
What will happen when your property is auctioned off?
Can repo rep discuss with your boss about your repossesion?
Sure, there is no law against it.
Repossesion laws in Arizona?
30days by state law, answer from a repo man
Can lexington law remove repossesion off your credit report?
No they can't.
If I take my car back to the bank that financed it will they process it as a repossesion?
Yes because that is what it is.
What are the steps of a repossession for collateral?
What are the steps in a repossesion of collateral (boat) in the state of Alabama?
Is There a certain way you can park your car to stall the repossesion of your car?
park in a locked garage
Can i be arrested if you don't return a car in repossesion?
Yes. You can be charged for auto theft, and you can be jailed.
Is it state law to remove the tags when the vechicle has been repossesion?
Georgia does I am not sure about other states
What to do about North Carolina car repossesion?
Deal with it. You failed to pay that note, the finance company reclaimed their car.
