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If you had the vehicle repossessed and it is listed as a charge off can they now sue you for the balance?
Yes. What happens is that they auction the vehicle. They can auction a vehicle 10 days after they repossess it, not before. They take that money, apply it to the loan. Whatever balance is left is what you are responsible for. One thing you can question, is what the vehicle is auctioned for. They have to make every reasonable effort to sell it for book, they just can't sell it for $10 if it is a $10K vehicle, if you know what I mean. There are guidelines that they have to adhere to.
What else can I help you with?
When can a car be repossessed in Texas?
In most instances when you get behind on your payments. The exact details of when the lender will repossess the vehicle is listed in the contract you signed when you took out the loan on the vehicle. Read your contract with the lender.
Can a creditor sell a repossessed vehicle they have had in their possession if the debtor files bankruptcy?
Possession is 9/10th of the law. Not if the vehicle qualified to be listed in the bankruptcy filing. In which case no action pertaining to the vehicle can be taken until the bankruptcy proceedings are finished.
Can you file bankruptcy if you are hiding your car from being repossessed?
You can, but it most definitely would not be advisable. The vehicle would have to be listed in the bankruptcy schedule as a secured debt which means it is NOT dischargeable in a BK.
In the state of Colorado if a vehicle is repossessed do the personal items in this vehicle have to be returned?
As soon as your vehicle is delivered tot he storage lot, it is typically inventoried. That is all personal items are listed and placed in storage. Upon your request, these items will be returned to you. Keep in mind thought that you may be required to pay storage for these items before they will be returned.
If primary owner and cosigner have both their names on the title and primary doesn't pay the payments can you repossess the vehicle The title says or on it.?
If there are two individuals listed on the title of a vehicle as primary and joint, they are both responsible for the payment of the loan. If the primary defaults on the payment, the joint owner is responsible for payment. If both parties default, the vehicle can be repossessed.
Where online can I go to find repossessed cars for sale?
Autobidmaster.com is a site where you can bid on those cars that have been repossessed. It offers a wide range of of models and locations of where the vehicles are being listed.
Can my house be repossessed if my husband is madebankrupt but is not on the deeds?
Your husband's name is not on the deed, but is he on the loan? If yes, then it cannot be foreclosed and repossessed if the property is listed on his bankruptcy filing, and, as long as his bankruptcy payments are current. If he defaults on bankruptcy payments, then you can lose the property. If he is not on the loan, then your house can be foreclosed and repossessed.
Who is responsible for hail damage that happened while a car was repossessed?
The owner of the car listed on the insurance policy.
Can a creditor list your car as repossessed on your credit even if they have not repossessed it yet?
Looks like 2 choices here..they made a mistake and listed the wrong account OR they have more faith that they CAN and will repo it than you do...LOL
Where does the purchase of shares listed on the balance sheet?
In balance sheet asset side
Can a civil judgment result in the repossession of a car that is co owned?
If the civil judgment is due to not making payments for an auto loan on the car that is in question, then yes, that car may be repossessed as a result of the judgment. If there is a judgment against both owners of the car (i.e., if the co-owners are both listed as defendants), then the car is considered an asset and may be repossessed unless there is proof that the car is required for one or all of the co-owners to earn money in order to pay the judgment. If there is a judgment against only one of the owners of the car (i.e., if one of the co-owners is listed as a defendant, but ANY of the others are not), then no, the vehicle may not be repossessed.
How are notes receivable due in 5 years listed on the balance sheet?
nOtes receivable due in five years is listed on the balance sheet under what csption
