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What happens if you do not voluntarily surrender the vehicle and you continue to hide the vehicle from being repossessed?
The lien holder can either take you to court, or the repo agency will just keep on you... if you're hiding the vehicle, it's doubtful you want to go through all the hassle just to leave it sitting idly, so you'll probably drive it somewhere at some point. If it's a high enough value vehicle, oh yeah, they'll stay on you, and the moment you leave it unoccupied in order to run into a store, another house, wherever, a vehicle - likely an inconspicuous looking one ton pickup - will back up to it, a wheel lift will come out and lift up the axle, and that's all she wrote - once they have it hooked, it's theirs, and the only way you're getting them to drop it is through successful force of violence - but this will only work against you, as you'll find yourself facing felony charges for that, AND you still lose the car when all is said and done.
If you're financing a 30 year-old Yugo, on the other hand, it's not going to be worth it to spend the money for such assets, and you'll just get referred to a collection agency, at which point, you'll either set up payments with the collection agency, or ignore the debt collector and forget about having any credit for the next seven years.
What else can I help you with?
What happens if your mobile home is repossessed voluntarily?
You may still end up owing a lot of money on it ,and you won't have it ! State laws vary on this - better to negotiate a settlement of some kind.
What happens if a car was to be repossessed and it didn't happen?
You are lucky. If you cannot make the payments contact the lender and try and work something out. If not voluntarily turn the car in yourself. You will save yourself the repossession fees.
What happens if you get your car repossessed?
if i get my car repossessed, can they put a llien on the house?
What happens to your credit if you voluntarily have your?
what happens if i voluntarily return my car to the bank due to job loss
What happens if you waive your right to an extradition trial?
You would basically be agreeing to voluntarily go to the state that is charging you. You would let them pick you up or perhaps you can drive to the state to surrender.
What happens in Texas if you voluntarily have your car repossessed and money is still owed after the car has been sold at an auction?
Chris, I dont know the answer to the question YET. I will find out today. Email me latyer on and Ill have it for you. What does the lender "say" they will do???
What is cash surrender in insurance?
"Cash surrender value" also known as "cash value" or "policyowner's equity value" is the monetary amount an insurance company will give the policyholder or annuity holder if the policy is voluntarily terminated before maturity or before the insurable event happens, (ex. death, disability).
What happens after court proceedings have been filed in Florida if you have little or no income and had the vehicle voluntarily repossessed?
You NEED to show up with proof of your little to no income. This is your chance to convince the lender that the chances of repayment are slim to none. If you dont show, they get a default judgement.
What happens if a police officer's house is repossessed?
then theyre out of a home
What happens to title loan cars when they are repossessed?
They are sent to an auction and sold.
What happens to your credit after a car is repossessed?
Normally your credit is ruined for 7 years.
What happens when a car is repossessed and you are the cosigner?
You will also be liable for any deficiency balance
