0
Loans
Money lent to individuals or businesses in return for interest in addition to repayment of principal. Common types of loans include commercial loans, interbank loans, mortgage loans, and consumer loans.
13,117 Questions
IF your name is NOT on the loan as co-signor or signnor, NONE. IF you live in a community property state, check with an attorney for info on that.
As long as there is a contract with your car as collateral and the contract is in DEFAULT, the leinholder can repo(excluding B/K).
Can a finance company repossess your car after promising an extension?
IF you can prove any "promise", call a local attorney for state specific advice. Chances are very good that they can repo as long as you are in DEFAULT.
GET the car(if you want it), make arrangements with LENDER to do what they will expect you to do anyway....NO DONT pay for it and YES it will be bad
If there is a charge off on an auto loan and you have the car who does it belong to?
IF there is a LEINHOLDER on ANY title, it belongs to the LEINHOLDER.
Can you go to jail if you do not pay all of the remaining balance after a repossessed car is sold?
NO, there are no more "DEBTORS PRISONS".
IF the lender posts a repo on your CR, you have one.
You will have the repo on your credit report, but it should also show up as "redeemed".
the same as an invol. Depends on your state laws. If the lender has gotten a judgement, it could be a long while.
Think about it. IF the lender waited until the loan was paid off,zillions of repos would NEVER be reported. Sooo, they report them as they happen.
EITHER/OR. they both signed and agreed to pay.
Unless a court rules there was a breach/violation on the lenders part, YES. If you have doubts, call a local attorney for a consultation.
Can you get back a repossessed car if you pay the missed payments?
You get it back after meeting the terms of the contract. the LENDER will tell you how much it costs to get it back.
Can they repossess your car the day after they receive a partial payment?
As long as you are in DEFAULT of the contract, the lender can repo the collateral.
As far as I know, only 2 states require the lender/repo company to notify the debtor. The easiest way to find out the info is CALL THE LENDER.
Whomever signed the contract is responsible for the balance.
2nd yr of 6-yr loan, b/k 2yrs ago,???? You just cant quit can ya?? Buy something you can PAY CASH for and leave the credit alone.
I recommend discussing it with the LENDER. Ask for "help" in "locating" the car. If that doesnt work, contact a FL repo company for advice. NOTE. Is the TITLE in your name(owner OR co-owner)? If you are simply on the LOAN contract, you are in a mess.
""co-owner of a vehicle"" means you are listed on the TITLE and just that. ""collateral for a loan by one of the parties and also had a co-signer"" IF you are not on the loan, then you are not responsible for paying it. The signor and co-signor will have to pay the loan. However, IF you want/need the car, you may wind up paying the loan just to get the car. Otherwise, you lost your car if it gets repoed.
Lets try this; Co.A sells your loan to Co.B for "cash". Now Co.A wants to repo your car? IS that the question? If so, how Co.A got paid is immaterial to you. They could have been paid in widgets as long as Co. A and Co. B were happy. Id Co. A sold with RECOURSE to Co.B and you DEFAULT on the loan, then Co. B will tell Co. A"its back to you now, GO REPO IT". If i understand your question right, the answer is YES.
You answered your own question. CROSS COLLATERALIZATION.
Will you have to pay the transport fee back to the state that issued the loan?
read the contract you signed. It likely states that YOU will pay ALL fees associated with collecting on the loan if you are in default. YES
One can either take the bike ones self or hire a recovery agent to do it. Does one know where the bike is? Do one have a key to the bike? Do one have somethiong to haul the bike on?
PS. is one's name on the TITLE? id not, one is in a bad place. If one is ONLY on the loan and not the TITLE, one has been had.
What can the co-signer do if the borrower can't make their car payments?
"""the co-signer do if the lender can't"""????????? New one on me... IF the debtor/signor cant/wont make the payments, the co-signor is obligated to make the payments to the lender. The co-signor can demand/beg/plead/con/coerce the signor to let co-signor have possession of the collateral just like the lender will if the payments dont get made. Does that help?
"vehicle cannot be found anywhere? " NO candy for you...If you were the bank, would you believe that line?? Rem ,Cars DONT fall off the face of the earth. Spmeone's bbaby's mothers aunties boyfrined is driving your car. IF it was stolen, YOU would have reported it to the cops.Good Luck http://www.capitol.state.tx.us/statutes/cvtoc.html CHAPTER 31. JUDGMENTS SECTION 31.001. PASSAGE OF TITLE SECTION 31.002. COLLECTION OF JUDGMENT THROUGH COURT PROCEEDING SECTION 31.0025. AUTHORITY OF COURT TO ORDER TURNOVER OF WAGES SECTION 31.003. JUDGMENT AGAINST PARTNERSHIP SECTION 31.004. EFFECT OF ADJUDICATION IN LOWER TRIAL COURT SECTION 31.005. EFFECT OF ADJUDICATION IN SMALL CLAIMS OR JUSTICE OF THE PEACE COURT SECTION 31.006. REVIVAL OF JUDGMENT SECTION 31.007. PARTIES RESPONSIBLE FOR ACCOUNTING OF OWN COSTS SECTION 31.008. PAYMENT OF UNCLAIMED JUDGMENT SECTION 31.010. TURNOVER BY FINANCIAL INSTITUTION
ANY time you are in default, they can repo the car.CALL the bank about the problem, dont create another problem to be dealt with.
