Repossession

North Carolina is considered as a non-recourse state. People who live here can leave their mortgage without any penalty of putting their other assets at risk.

No. You need a court order.

If you agreed to obtain the car loan you should have placed your name as co-owner on the title. Since you are not on the title you cannot take possession of the car. Since you ARE responsible for the car loan you must keep the car payments current. You need to take the matter to court to request the car be retitled in your name.

There is a more serious problem lurking. You need to make sure the insurance is current and that the car is fully insured. If the legal owner has allowed the insurance to lapse or does not have full coverage you will still be responsible for repayment of the loan if the car is wrecked. That situation arises frequently in cases like this one with individuals who are not responsible enough to make car payments. If they can't make the car payments then it usually follows that they cannot make insurance payments either.

You need to get before a judge ASAP in order to get that car out of the possession of the legal "owner". Make certain you make the loan payments and that you have written proof that you are making them. You must bring that proof of payment to court as well as proof that you obtained the loan to pay for the car. If you find that the insurance has lapsed you should try to obtain proof of that also.

In most cases, a repossession can keep personal belongs for non payment. The company, however, must release them once payment is made.

Of course, call your bank and pay them what you owe and they will let you have it back as long as you have not waited so long that they have sold it to someone else.

In this situation (at least in california), if the RO (registered owner) (or the cosigner) dies and still owes on the loan the vehicle will be repossessed because the title to the vehicle cannot be legally transfered to another family member. The loan is only for one person. My girlfriends mother cosigned on the loan to the car, and being that the mother is old, i told my girl to make sure that at any time she might have to pay off the vehicle. If the RO dies, pay the car off as soon as possible, before the Finance company finds out. As a repossessor , usually people in this situation arent sure what their rights are. Sometimes people will continue to pay on the loan, but in time, the finance company will find out. THis usually happens when a 3rd party will insure the vehicle in their name, or if an accident happens, etc. Check your states law though, because they are all different.

Your wages can be garnished for an auto repossession if there is a court order. All wage garnishment's must be obtained from the county court of your residence.

Generally not. These are normally structured so it essentially the lender buying the property for for the amount of the outstanding loan. The difference in the value, is paid by your facilitating the transaction if you will. There is no forgiveness of debt.

Nope. It is a repossession. I take them in the middle of intersections if I have to. All legal. As long as I do not hit you personally.

There are none because when you sign you contract in fine print it says if you fault on you loan.The loan company has the right to repo the car by any mean at all cost to the buyer and to be sold a action, and the buyer is to pay the diff. of what is left owed

if you pay the collection agency you can get back in good credit standings , ifyou dont they can get a judgment against you, and garnish your wadges , if they do a charge off it stays on your credit for up to 10 years know and it is harder to get credit with a charge off

In most states. You can be charged with intent to defraud a lending institution. Some states prosecute for concealment of non-owned property.

Dead weight. No, really I call them likely car sick by the time I get the car into my yard. Kids are the worst as they are usually screaming and I have ot call children services to turn them over.

You would have to contact them and ask that. Likely not though.

supply

The repo man will pick up the vehicle anytime and anywhere he can do it while watching out for his personal safety. Repo men have been shot at, cursed at, hit, and everything in-between from the person whose vehicle is being repossesed. I would think that night time would be the safest time for a repo.

no

There is nothing you can do till the car is sold.

It's possible, yes. In most US jurisdictions, a contract is voidable if it was signed under either duress or due to fraudulent statements made by the other party.

We come out, at any given time, take the car, and you call your bank and ask how to get it back. I do a lot of repossessing in Idaho. We just come out. You can pay all but 5 cents of the car off, and since you have been in default, they can take the car.

NO

I don't know of any dealership that would allow that. On the other hand any dealership will accept a vehicle bought from them for trade in, but I have no doubt that you will lose money on the deal.

A lotus exige s weighs 2000 pounds

The co-signer will also have a repossession showing on their credit as well. The co-signer is just as legally responsible for the car as the person they signed for.

Iowa has laws in place that limit the amount that can be taken from wages. The law in Iowa states that creditors can only garnish up to 25 percent of wages.

Talk to you local county attorney.