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Can a repossession be legal with no notice if an extension was made on the payment?
Not knowing what state you are in...YES it can. Few states require "notice" if you are referring to "right to cure". None require NOTICE, we are goona repo yo ride. Notice is when they bug you for 60 days wanting to get you to pay, answer the phone, quit pretending its a wrong number,ect. IF you were in default of the contract, they can repo, even ONE day late, IF they want to.
What else can I help you with?
What is meant by the term Australian legal tender?
From "The Reserve Bank of Australia" website has this;http://www.rba.gov.au/CurrencyNotes/LegalFramework/legal_tender.htmlLEGAL TENDER The Concise Oxford Dictionary defines legal tender as "currency that cannot legally be refused in payment of debt (usually up to a limited amount for baser coins, etc.)". It is the Bank's understanding that, although Australian currency has legal tender status, it does not necessarily have to be used in transactions. Under the legal tender provisions of the Currency Act 1965 and the Reserve Bank Act 1959, refusal to accept payment in legal tender notes and coins is not unlawful. This is the case even where an existing debt is involved. However, a refusal to accept legal tender in payment of an existing debt, where no other means of payment/settlement has been specified in advance, conceivably could have consequences in legal proceedings, i.e. the creditor may be unable to enforce payment in any other form. It appears that the provider of goods or services is at liberty to set the commercial terms upon which payment will take place before the "contract" is entered into. For example, some toll collection points indicate by signs that they will not accept low denomination coins. If a provider of goods or services specifies other means of payment prior to the contract, then there is usually no obligation for legal tender to be accepted as payment.
What were the important features and effects of the stamp act?
It was the first direct tax on the American colonies. Now, every legal document had to be written on specially stamped paper, showing proof of payment. Deeds, wills, marriage licenses - contracts of any sort - were not recognized as legal in a court of law unless they were prepared on this paper. In addition, newspaper, dice, and playing cards also had to bear proof of tax payment.
Are there laws providing protection for military personnel serving on active duty where unable to make payment?
Contact your CO or JAG or other legal officer. Look into the Servicemember's Civil Relief Act (SCRA). http://www.uscg.mil/legal/la/topics/sscra/about_the_sscra.htm
Becoming a repossession company in Louisiana?
When you finance or lease a vehicle, your creditor holds important rights on the vehicle until you've made the last loan payment or fully paid off your lease obligation. These rights are established by the signed contract and by state law. If your payments are late or you default on your contract in any way, your creditor may have the right to repossess your car. Talking with Your Creditor It is easier to try to prevent a vehicle repossession from taking place than to dispute it afterward. Contact your creditor when you realize you'll be late with a payment. Many creditors will work with you if they believe you'll be able to pay soon, even if slightly late. Sometimes you may be able to negotiate a delay in your payment or a revised schedule of payments. If you reach an agreement to modify your original contract, get it in writing to avoid questions later. Still, your creditor may refuse to accept late payments or make other changes in your contract and may demand that you return the car. By voluntarily agreeing to a repossession, you may reduce your creditor's expenses, which you would be responsible for paying. Remember that even if you return the car voluntarily, you're responsible for paying any deficiency on your credit or lease contract, and your creditor still may report the late payments and/or repossession on your credit report. Seizing the Car Effective January 1, 2005, Louisiana's Act 191 ( "Additional Default Remedies Act" ) and Act 814 ( "Notice of Repossession" ) permit a "secured party" or "a lessor" to take possession of collateral without judicial process provided: 1. ) the Security Agreement, or lease, contains the following specific wording: "Louisiana law permits repossession of motor vehicles without judicial process", 2. ) prior to taking possession, a notice of intent is sent to all debtors, in writing, containing the specific wording: "Louisiana law permits repossession of motor vehicles without further notice or judicial process", 3. ) a "payment" default exceeding 30 days ( monthly installment contracts ) or 60 days ( weekly or bi-weekly contracts ) exists, 4. ) no "breach of the peace" occurs in the act of retaking, 5. ) the individual who physically repossesses collateral must be licensed by the State of Louisiana-Office of Financial Institutions, 6. ) in the event a tow truck is used, the owner, or operator, shall possess a common carrier certificate issued by the Louisiana Public Service Commission, and 7. ) within three days of taking possession, the secured party files a "Notice of Repossession" with the recorder of mortgages in the Parish where the collateral was located and with the appropriate official Constable of the Justice of The Peace Court, Constable or Marshal of the City Court or the Parish Sheriff as determined by the debtor's last known address. Fees of $75.00 to the "Recorder of Mortgages" and $250.00 to the appropriate "official" must be paid at the time of filing. Both a "Notice of Sale" and a "Notice of Disposal" are follow-up requirements and prerequisites to perfecting a deficiency ( R. S. 10 : 9-613, et seq. ). Act 670 allows a motor vehicle dealer to use self-help if a prospective purchaser fails to return a credit rejected vehicle 25 days after delivery and after 48 hrs. notice. Creditors who breach the peace in seizing your car may have to pay you if they harm you or your property. A creditor usually can't keep or sell any personal property found inside. State laws also may require your creditor to use reasonable care to prevent others from removing your property from the repossessed car. If you find that your creditor can't account for articles left in your car, talk to an attorney about whether your state offers a right to compensation. Selling the Car Once your creditor has repossessed your car, they may decide to sell it in either a public or private sale. In some states, your creditor must let you know what will happen to the car. For example, if a creditor chooses to sell the car at public auction, state law may require that the creditor tells you the date of the sale so that you can attend and participate in the bidding. If the vehicle is to be sold privately, you may have a right to know the date it will be sold. In either of these circumstances, you may be entitled to buy back the vehicle by paying the full amount you owe, plus any expenses connected with its repossession (such as storage and preparation for sale). In some states, the law allows you to reinstate your contract by paying the amount you owe, as well as repossession and related expenses (such as attorney fees). If you reclaim your car, you must make your payments on time and meet the terms of your reinstated or renegotiated contract to avoid another repossession. The creditor must sell a repossessed car in a "commercially reasonable manner" - according to standard custom in a particular business or an established market. The sale price might not be the highest possible price - or even what you may consider a good price. But a sale price far below fair market value may indicate that the sale was not commercially reasonable. Paying the Deficiency A deficiency is any amount you still owe on your contract after your creditor sells the vehicle and applies the amount received to your unpaid obligation. For example, if you owe $2,500 on the car and your creditor sells the car for $1,500, the deficiency is $1,000 plus any other fees you owe under the contract, such as those related to the repossession and early termination of your lease or early payoff of your financing. In most states, a creditor who has followed the proper procedures for repossession and sale is allowed to sue you for a deficiency judgment to collect the remaining amount owed on your credit or lease contract. Depending on your state's law and other factors, if you are sued for a deficiency judgment, you should be notified of the date of the court hearing. This may be your only opportunity to present any legal defense. If your creditor breached the peace when seizing the vehicle or failed to sell the car in a commercially reasonable manner, you may have a legal defense against a deficiency judgment. An attorney will be able to tell you whether you have grounds to contest a deficiency judgment.
What is the law in Alabama regarding personal property in your repossessed vehicle?
When you finance or lease a vehicle, your creditor holds important rights on the vehicle until you've made the last loan payment or fully paid off your lease obligation. These rights are established by the signed contract and by state law. If your payments are late or you default on your contract in any way, your creditor may have the right to repossess your car. Talking with Your Creditor It is easier to try to prevent a vehicle repossession from taking place than to dispute it afterward. Contact your creditor when you realize you'll be late with a payment. Many creditors will work with you if they believe you'll be able to pay soon, even if slightly late. Sometimes you may be able to negotiate a delay in your payment or a revised schedule of payments. If you reach an agreement to modify your original contract, get it in writing to avoid questions later. Still, your creditor may refuse to accept late payments or make other changes in your contract and may demand that you return the car. By voluntarily agreeing to a repossession, you may reduce your creditor's expenses, which you would be responsible for paying. Remember that even if you return the car voluntarily, you're responsible for paying any deficiency on your credit or lease contract, and your creditor still may report the late payments and/or repossession on your credit report. Seizing the Car In many states, your creditor has legal authority to seize your vehicle as soon as you default on your loan or lease. Because state laws differ, read your contract to find out what constitutes a "default." In most states, failing to make a payment on time or to meet your other contractual responsibilities are considered defaults. In some states, creditors are allowed on your property to seize your car without letting you know in advance. But creditors aren't usually allowed to "breach the peace" in connection with repossession. In some states, removing your car from a closed garage without your permission may constitute a breach of the peace. Creditors who breach the peace in seizing your car may have to pay you if they harm you or your property. A creditor usually can't keep or sell any personal property found inside. State laws also may require your creditor to use reasonable care to prevent others from removing your property from the repossessed car. If you find that your creditor can't account for articles left in your car, talk to an attorney about whether your state offers a right to compensation. Selling the Car Once your creditor has repossessed your car, they may decide to sell it in either a public or private sale. In some states, your creditor must let you know what will happen to the car. For example, if a creditor chooses to sell the car at public auction, state law may require that the creditor tells you the date of the sale so that you can attend and participate in the bidding. If the vehicle is to be sold privately, you may have a right to know the date it will be sold. In either of these circumstances, you may be entitled to buy back the vehicle by paying the full amount you owe, plus any expenses connected with its repossession (such as storage and preparation for sale). In some states, the law allows you to reinstate your contract by paying the amount you owe, as well as repossession and related expenses (such as attorney fees). If you reclaim your car, you must make your payments on time and meet the terms of your reinstated or renegotiated contract to avoid another repossession. The creditor must sell a repossessed car in a "commercially reasonable manner" - according to standard custom in a particular business or an established market. The sale price might not be the highest possible price - or even what you may consider a good price. But a sale price far below fair market value may indicate that the sale was not commercially reasonable. Paying the Deficiency A deficiency is any amount you still owe on your contract after your creditor sells the vehicle and applies the amount received to your unpaid obligation. For example, if you owe $2,500 on the car and your creditor sells the car for $1,500, the deficiency is $1,000 plus any other fees you owe under the contract, such as those related to the repossession and early termination of your lease or early payoff of your financing. In most states, a creditor who has followed the proper procedures for repossession and sale is allowed to sue you for a deficiency judgment to collect the remaining amount owed on your credit or lease contract. Depending on your state's law and other factors, if you are sued for a deficiency judgment, you should be notified of the date of the court hearing. This may be your only opportunity to present any legal defense. If your creditor breached the peace when seizing the vehicle or failed to sell the car in a commercially reasonable manner, you may have a legal defense against a deficiency judgment. An attorney will be able to tell you whether you have grounds to contest a deficiency judgment.
What will happen when a loan on a motorcycle has been defaulted and the finance company will not reprocess it?
If guess you mean "refinance" when you say "reprocess", the answer is repossession. Loans in DEFAULT are subject to repossession of the collateral and payment of the balance owed by voluntary or legal means.
In the state of Utah do they have to send you a Right to Cure notice before repossession of your car?
Yes, in Utah, creditors are generally required to send a Right to Cure notice before repossessing a vehicle. This notice informs the borrower of their default and provides an opportunity to cure the default by making the overdue payment. However, specific circumstances may affect this requirement, so it's advisable to review the terms of the loan agreement and consult legal resources if needed.
Is it legal to reposes a car 8 days before the payment is due and five days after purchasing the vehicle?
That sounds odd, repossession is usually done when you've missed payments.
What is the process for receiving a Santander notice of right to cure default?
To receive a Santander notice of right to cure default, you must first miss a payment on your loan. Santander will then send you a notice outlining the missed payment and giving you a specific period of time to make the payment and bring your account current. This notice is a legal requirement to give you the opportunity to rectify the default before further action is taken.
Is it legal to keep a vehicle in my garage to avoide repossession?
No, it's NOT legal.
Repossession laws on mobile home in Michigan?
In Michigan, repossession laws for mobile homes are governed by both state laws and the terms of the loan or lease agreement. If a borrower defaults on their loan, the lender may initiate repossession, which typically requires following specific legal procedures, including providing notice to the borrower. The lender must also comply with the Michigan Mobile Home Commission Act, which outlines the rights of both parties. It's important for borrowers to understand their rights and seek legal advice if facing repossession.
What are the laws in Florida on manufactured home repossession?
In Florida, manufactured home repossession is typically governed by the Uniform Commercial Code (UCC). The lender must follow the specific provisions outlined in the UCC for repossession, which may include providing notice to the borrower and following proper procedures for taking possession of the home. It is recommended to consult with a legal professional for guidance on the specific laws and procedures in Florida regarding manufactured home repossession.
What is a legal order payment and bank fee?
It is an outstanding unpaid bill that a company has claimed a lien on your account to pay for. It may be a car repossession that has never been paid off and all other contact has been ignored and/or the payment criteria has not been met.
What is the law in NC of mobile home repo?
In North Carolina, the repossession of a mobile home typically follows the same legal framework as the repossession of personal property. If the mobile home is secured by a loan, the lender must provide proper notice and follow the state's laws regarding repossession, which may include court proceedings if the borrower does not voluntarily return the property. Additionally, North Carolina law requires that repossessions must be conducted without breach of the peace. It's advisable for individuals facing repossession to consult with a legal professional for specific guidance.
Is it legal to threaten aBorrower in Florida with legal or criminal action by repossession agents?
Legal action is permitted, criminal action is not.
What is the legal definition of posted?
v. 1) to place a notice on the entrance or a prominent place on real property, such as a notice to quit (leave), pay rent, or a notice of intent to conduct a sheriff's sale, which requires mailing of a copy to the occupant to complete service of the notice. 2) to place a legal notice on a designated public place at the courthouse. 3) a commercial term for recording a payment. 4) to mail.
Does a landlord have the right to collect rent on a home with a notice of default?
As long as the landlord is in legal possession/ownership of the property and as long as you are residing on/in his property, yes. His notice of default has no legal effect of putting a "stay" on your payment of rent.
