Repossession

If I'm a buyer and I want to keep the automobile, can the co-signer take it away if all the payments has been made. I put the down payment on the truck and the insurance in my name.

Before, or at least as part of the process of, selling the car, the original loan will need to be repaid. The lienholder will not release title to the buyer until this has happened.

There's no need for any letter, notarized or otherwise.

This will effectively remove you as cosigner, since that loan will no longer exist.

If something other than a straightforward sale is going on, then you should contact the finance company to find out what procedure to follow to ensure that you're no longer on the loan.

Warrants are issued by a judge, and not a loan company. The loan company can repossess an automobile or can sue in court to recover the vehicle or what is owed on it (plus costs). The police do not come and arrest people for not paying off a loan. Lastly, disagreements over payment issues regarding a car loan are civil matters, not criminal ones.

Also please be aware that is illegal for an institution collecting debt to threaten arrest, or imprisonment. You can report this to the FTC (if they are under their regulatory authority) and state Attorney General.

The day you are discharged you can buy a car. You need to take proof that you are discharged.

As little as 1. Depends on the lender and the agreement you signed. Read the loan agreement. My advice. Call the lender and talk about this. Work something out! You do not want your car repossed.

It was called the "Stanhope" it was created in Darlington by Sir John Eye in 1825 and was used in the first railway in the world from darlington to stockton. ^0^

The answer depends upon which State your spouse was a legal resident of, and also, wether or not the car was in your spouse's name only. Foir instance, in NJ, if a person dies intestate (without a will), all possessions owned solely by the deceased person must be split 50/50 between the spouse and any children of their marriage. Possessions owned jointly with the spouse go directly to the spouse. Check with your local county offices on your State's law. Good luck.

This is you call the seller and say I am in a jam can't pay no more, come get the funiture.

In the United States you cannot be put in jail for owing a debt. You may however have your wages garnished by the court.

As soon as a lender will let you borrow, or when you have the cash to pay for it. You will pay a higher interest rate, and you have to watch out for "finance here" dealers, who are not licensed as lenders and often change the paperwork by filling in blank spaces after you sign.

Yes, The bankruptcy of the borrower does not protect the co-signer. The bank howevermust obtain a judgment against the co-signer prior to garnishment.

Nothing.

Just because a bank is legally entited to reposess a car doesn't mean they have to do so immediately. They can choose to wait and see, and reposess it later if you're still delinquent on the loan.

Hello,

Please search in google for State Statute of limitation.

I could have answered that, if i knew which type of debt it is and which type of contract you have along with your state.

You should get the answer, there are a lot of websites that have State Statute of limitation.

Thanks!

Sell the newer car and buy something cheaper. It's a bad idea to default on a loan and screw up your credit. Sounds like you overextended yourself financially!

If you give the car back to the car dealership before your lease has expired, then the lease is over. You stop paying the monthly payments. This is very common in people who want a low monthly payment, thus they get a long car lease and then end up trading back in the car for a new car before the lease has expired.

Many. Collection costs, storage, repo fees, etc.

Almost always. They want you to pay them, they don't want the car. If it hasn't been grabbed yet you might want to voluntarily surrender the car and work out a deal. After it has been repo'ed you are going to have some ugly fines or fees (someone has to pay the repossessor). Best of luck.

Call the bank, immediately (if not sooner) and place a Stop Payment on the check number. This will require you to pay a fee to the bank for this process, but it will be cheaper in the long run just for your own peace of mind.

If the check is then presented for payment, the computer systems will "flag" that check and prohibit payment to whomever is presenting it for payment.

You will need a co-signer on a loan if the lender has determined that you do not have enough income or the credit rating necessary to make the purchase alone. It could also be related to your age, if you are a minor.

Quadruplets!

You get actual cash value less deductible. So, if a comparable used car in your county sells for $4000, they'll pay you that but take off whatever your deductible is. So, do your homework and look at the local classified ads and nada.com to make sure you're getting a good price. Also, if you've got receipts for upgrades (new stereo, keyless entry, new tires) they will give you credit for them.

Technically you are not the owner of the vehicle until you have paid every repayment it is the property of the finance company.

Just because the vehicle is in your possession does not mean that it is yours as the contract that you signed has not been forfilled (the paying in full part)