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Once the property is taken back, the creditor will probably try to sell it. The creditor must give you written notice of the time and location of the sale. It is a good idea to go to the sale, so that you can make sure that the property is displayed and sold properly. You want the property to be sold at the highest possible price, because the money the creditor gets from the sale will be applied toward your debt.
What else can I help you with?
Can a repossession man come inside work and harass you?
The repossession man must obey the laws pertaining to the country in which you live. If you need help or advice, contact an attorney (a lawyer).
Can they repossess your car when parked at a friend's house?
Maybe, it is not possible to give an exact answer without knowing the state of residency. States establish the laws pertaining to the repossession of vehicles and other such creditor actions.
What are the laws and requirements in new york state?
New York state repossession law state that creditors can repossess goods in default without going to court. If repossessing the goods is not feasible, the creditor can make the goods unusable instead. In addition, creditors do not have to give notice before repossessing secured goods. The only limitations creditors have on repossession are that they can't cause a disturbance, and they must proceed reasonably.
What rules must be followed when repossession takes place?
Most generally the agent must not breach the peace. There are specific laws pertaining to repossession agencies that are different in different states. However, for the most part, as long as the peace is maintained, and it is a self-help state, there is nothing more the agent must do.
Laws pertaining to IRA Brokerage Accounts?
federal and state laws pertaining to IRA Brokerage Accounts
What are car repossession laws in Missouri regarding notification to auction a vehicle?
what are the legalities of voluntary vehicle repossession
How are the laws of a country based on economics?
Many laws of any country impact that country's economics. Tariff laws on imports and exports affect the price of goods in the country. Laws pertaining to minimum wages affect the living standards of many of its citizens. These laws also impact the cost of goods in a country. Laws that affect the nations national bank or other institutions can play a role of interest rates in that country.
Are there any laws in the US pertaining to ozone depletion?
Yes there are laws. These laws say not to use CFC's.
What are automobile repossession wage garnishment laws for Alabama?
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How do you get state repossession laws?
Just log on to WWW.statelaws.com and ask questions.
What are the vehicle repossession laws in Arkansas?
Vehicle repossession laws in Arkansas is the same there as it is in every other state. One must pay his loans or risk facing legal action from the one that one has borrowed from.
What are the repossession laws in Illinois?
There are several web resources about repossession in Illinois. In addition to this information, the Illinois General Assembly's website contains the full text of all Illinois Laws. Please see the links below.
