Federal and states laws do not allow repossession agents move a vehicle that may be blocking in a wanted vehicle without the permission of that vehicle's owner. That being said, most agents will not hook a blocking vehicle to move it for liability reasons. That being said, there are exceptions to every rule, and there are some less scrupulous repossession agents who will do whatever they deem necessary to get a wanted vehicle. These are the exception and not the rule.
Here's the thing: if an agent has moved a vehicle that you had blocking in another that was up for repossession, contact your states bureau of licensing and report them. You might also report it to your local law enforcement agency. Additionally, consider that blocking a wanted vehicle to prevent repossession could be a felony in your state; this is called Hindering a Lender, and may be prosecuted like Auto Theft.
Another thing to consider is that the sole purpose of the job of a repossession agent is to recover vehicles up for repossession. Blocking in a wanted vehicle makes his job more difficult. Now think about how you respond if someone makes the job you do more difficult. Repossession agents, most of them, are very good at their jobs, and very motivated; if they do not recover, they do not get paid. Now think about where the most inconvenient place would be to have your vehicle repossessed. Church? School? The Winn Dixie as you walk out with melting ice cream and your screaming progeny to see your car being towed away behind the repo truck as the driver waves at you? Make it easy on yourself.
the Repo rate, Reserve repo rate and CRR as of 03 January 2009 are as follows: Repo Rate: 5.6% CRR: 5% Reverse Repo rate: 4.1% Source: RBI
I worked with a guy that had the repo man come to work to take his vehicle, so yes they can come to your work. If you haven't been making the payments and they decide to repo your car that is that and I don't believe they have to go through any sort of legal procedures to come and take your car. You didn't pay so they come and take back their property, simple as that unfortunately for you.
Legally probably not,that assumes you do not own the propery or the property(like a private road) to get to your property so that would be trespass.But someone has to call the police to enforce the trespass violation.After the repo guy has the car there is not much you can do except to sue the lender or repo guy. Gated,YES.Gated and locked no.
Most of your descriptive terms are variable and could mean different things to different people. Did you see him do it??? Why do I ask?? IF you didnt see it happen, you dont know if he used "force" or not. Merry Christmas
Yes, they can knock on your and attempt to contact you. what the lastest time they can do that
when repo man repossess the car and was in an accident before you can get it back, what happens
The license plates are yours to keep and transfer to another vehicle if you wish.
Get a court order to cut the chain and sieze the vehicle.
No. because not verifying the vin could lead to a misrepo of another vehicle for which the repo company would be sued.
No. Unless they're given permission from the owner of the other vehicle, they can only legally enter and move the vehicle they have an order for repossession on. If they move another vehicle, they're guilty of a criminal offense.
If the bank made a mistake they will return the vehicle to you, the repo company is under a hold harmless and work the accounts the banks give them.
Usually the bank has a list of repo companies they do biz with and they pick one to repo the car. Maybe the closest to the car, maybe the cheapest, whatever.
Some creditors will not do voluntary repo's because the collateral is not worth what the repo process costs them. I do recommend that you send them a letter certified stating you request the vehicle be picked up by a specific date and you will not be responsible for anything that happens to the vehicle after that date.
No. The only vehicle that can be repossessed is the vehicle for which the agent has a valid order of repossession, OR in some cases, a vehicle the agent encounters (such as reported by a camera car) in the process of locating another repossession. Anything other would be wrongful repossession or possibly grand theft auto and extortion.
Yes
Yes.
No one has the right to enter your property to repo a vehicle. I your vehicle is out in the street, then its fair game. If you see the repo man coming but has not hooked up to your vehicle, you legally still have possession of the vehicle. Once the vehicle has made contact with the truck the vehicle belongs to him.