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Repossession

Seizure of property bought on credit for which loan payments are not being received. Please note that when asking a car repossession question, it is often useful to include the state that you live in. This will enable people to give you better answers.

11,694 Questions

What is the difference between a writ of sequestration an a Writ of Attachment?

The writ of attachment is the seizure of any property belonging to the defendant to either create jurisdiction quasi in rem, or to preserve property at issue pending the outcome of the proceeding. The writ of sequestration permits one who already claims the ownership, the right to possession, or a lien upon property to have the property seized and held pending the outcome of a suit to establish his or her rights in the property.

In Maryland can a finance company repossess a vehicle that is 38 days in default?

Yes, the lender can recover the vehicle any time after the lending contract becomes in default.

My ex wife was supposed to take over payments on her car in our divorce but now is having the car repossessed and it's still in my name Can the loan company garnish my wages?

Yes they can because right now you show as being the responsible party. You will either need to go to court and have the divorce decree upheld or have the vehicle put solely in her name.

What is a lessor?

A lessor is a person or business that rents dwellings to individuals and families. The lessor is typically an owner of the property or an agent of the owner of property. Lessors also rent office and business space to lessees.

Can wages be garnished for auto repossession in MD?

if your car is repossesed than it just goes ony our credit your wages wont be withheld

Can you repossess a vehicle from your son if his name is on the loan and registration He has only made four payments in two years and you continue to make the payments to keep your credit in line?

It will depend on a number of things you did not mention 1) the state 2) the type of loan ( is the vechile used as the collateral on the credit line) If you are uo to date contact the bank. Let them know what is going on and they may ( again, depending on the state) pick up the vehicle for you, at a nominal charge.

How do you get the car back from Car repossession in Delaware?

Pay it off, or, make some sort of deal with the bank to get caught up,

Withholding a vehicle from being repo is it a felony?

laws vary from state to state. In Virginia it is felony larceny ( majority of vehicles are worth over $200 the legislation can be found under va code 18.2-115 fraudulent conversion or removal of property

Uninsured finance vehicle has been stolen Cancelled insurance because car was being repossessed by finance company?

You still have rights to recover the vehicle. The finance company may help you look for it if they're desperate enough to get it back. Even if your car was insured, you would legally have to payback the finance company for the car since you broke a binding finance contract.

Where to buy repossessed motorhomes?

where you need to go to buy repossessed motorhomes, varies according to where you live. Obviously, the best place to buy is to buy them less than 200 miles from your home. That way they are easier to inspect before buying, and they are easier to transport. If you find a good deal on a motorhome that is for sale in Alaska, you have to take into consideration that it will probably cost you $2000 to drive it home.

The best place to find repossessed motorhomes and RVs is to either find them for sale by a credit union, or else try to find them at a local auction. Sometimes you can even get a good deal on motorhomes that are in pre-for closure. Whenby these motorhomes you have an opportunity to short sell the bank and save a lot of money in the process.

Car repo in ny?

A car can be repossessed in the state of New York if payments are late or defaulted. The only way to not get a repossessed is to make your payments on time.

Why does your car smell like rotten eggs when the ac is on?

The water drain line is probably clogged up and water is standing inside the evaporator case and fermenting. Find the drain hose and suck it out with a wet vacumn. Try installing clean water back into the hose several times to clean it out once it begins draining ok. (like with a enema bag and hose)Also maybe use a spoonful of bleac to kill the growth.

My car was repo. and what happens when i can't pay the difference. can i make payments instead paying it all back at once?

You can negotiate payments, but I always recommend saving at least 30% percent of the remaining balance and negitiating a settlement. Get everything in writing before making your negotiated final payment. Then request a letter stating that the account is now "Paid in Full", instead of "Settled for less". Very important that you request this, so that they do not sell the remaining balance to a third party collection agency.

Can a Repo man take a car if you own it?

A repo worker does not normally pick up a vehicle unless he has an order from the lien holder (usually the creditor who financed the vehicle). If you own your vehicle outright with no liens against it, the repo person probably picked it up by mistake.

What is the current CRR and Repo rate?

As per the third quarter review monetary policy on January 29, 2010, RBI hiked the CRR by 75 basis points to 5.75%.

Can you report a car stolen if you are the registered owner and your ex is not making payments and wont tell you where the car is?

ya its your car, your name is on the title and someone has taken it from you....i think i defined a stolen vehicle right there

What does pre-repo status mean?

Basically, it means last chance to pay before repossession takes place. The procedure for repossession is in progress.

What do you do when a judgment is served on you?

You either pay or appeal. If there is really a judgment then you have already lost the court case.

Can a finance company report your car as stolen?

Yes, they can. They can't finance you car if your car is a stolen car. When you put your car from a finance company, make sure that your car isn't stolen and bought it in a big car company.