Repossession

antifreeze is most common problem related to petrol engines misfiring. this can be cured by replacing the timing belt in addition to the thermostat and coolant temperature sensor. this will remedy 95% of misfire problems on most modern cars.

No, the compensation (market or repair value) for the vehicle as determined by the policy guidelines remains the same.

I think this is the best car it's the buggati veyron.

Yeah that is a good car, I love it, but the best car is up to the driver. It's what they think about the car. In my case my opinion about the best car is the Nissan 370z.

If the other person has been making payments on time, then the co-signer should not have to do this.

Your credit report contains the entire HISTORY of your credit life. The repo will appear on your record but if you've had good credit dealings over the past 15 years it may well only affect your current credit worthiness marginally.

yes they can...but it also depends on state laws too

When you finance or lease a vehicle, your creditor holds important rights on the vehicle until you've made the last loan payment or fully paid off your lease obligation. These rights are established by the signed contract and by state law. If your payments are late or you default on your contract in any way, your creditor may have the right to repossess your car. Talking with Your Creditor

It is easier to try to prevent a vehicle repossession from taking place than to dispute it afterward. Contact your creditor when you realize you'll be late with a payment. Many creditors will work with you if they believe you'll be able to pay soon, even if slightly late. Sometimes you may be able to negotiate a delay in your payment or a revised schedule of payments. If you reach an agreement to modify your original contract, get it in writing to avoid questions later. Still, your creditor may refuse to accept late payments or make other changes in your contract and may demand that you return the car. By voluntarily agreeing to a repossession, you may reduce your creditor's expenses, which you would be responsible for paying. Remember that even if you return the car voluntarily, you're responsible for paying any deficiency on your credit or lease contract, and your creditor still may report the late payments and/or repossession on your credit report. Seizing the Car

In many states, your creditor has legal authority to seize your vehicle as soon as you default on your loan or lease. Because state laws differ, read your contract to find out what constitutes a "default." In most states, failing to make a payment on time or to meet your other contractual responsibilities are considered defaults. In some states, creditors are allowed on your property to seize your car without letting you know in advance. But creditors aren't usually allowed to "breach the peace" in connection with repossession. In some states, removing your car from a closed garage without your permission may constitute a breach of the peace. Creditors who breach the peace in seizing your car may have to pay you if they harm you or your property. A creditor usually can't keep or sell any personal property found inside. State laws also may require your creditor to use reasonable care to prevent others from removing your property from the repossessed car. If you find that your creditor can't account for articles left in your car, talk to an attorney about whether your state offers a right to compensation. Selling the Car

Once your creditor has repossessed your car, they may decide to sell it in either a public or private sale. In some states, your creditor must let you know what will happen to the car. For example, if a creditor chooses to sell the car at public auction, state law may require that the creditor tells you the date of the sale so that you can attend and participate in the bidding. If the vehicle is to be sold privately, you may have a right to know the date it will be sold. In either of these circumstances, you may be entitled to buy back the vehicle by paying the full amount you owe, plus any expenses connected with its repossession (such as storage and preparation for sale). In some states, the law allows you to reinstate your contract by paying the amount you owe, as well as repossession and related expenses (such as attorney fees). If you reclaim your car, you must make your payments on time and meet the terms of your reinstated or renegotiated contract to avoid another repossession. The creditor must sell a repossessed car in a "commercially reasonable manner" - according to standard custom in a particular business or an established market. The sale price might not be the highest possible price - or even what you may consider a good price. But a sale price far below fair market value may indicate that the sale was not commercially reasonable. Paying the Deficiency

A deficiency is any amount you still owe on your contract after your creditor sells the vehicle and applies the amount received to your unpaid obligation. For example, if you owe $2,500 on the car and your creditor sells the car for $1,500, the deficiency is $1,000 plus any other fees you owe under the contract, such as those related to the repossession and early termination of your lease or early payoff of your financing. In most states, a creditor who has followed the proper procedures for repossession and sale is allowed to sue you for a deficiency judgment to collect the remaining amount owed on your credit or lease contract. Depending on your state's law and other factors, if you are sued for a deficiency judgment, you should be notified of the date of the court hearing. This may be your only opportunity to present any legal defense. If your creditor breached the peace when seizing the vehicle or failed to sell the car in a commercially reasonable manner, you may have a legal defense against a deficiency judgment. An attorney will be able to tell you whether you have grounds to contest a deficiency judgment.

i would report it stolen. if the payments are made the loan company can and probably will come after you for the money. If you report it stolen to the cops you can at least report it to the insurance company and the loan company and that should remove your responsibility.

No. But any debt that is forgiven is taxable as income.

I have been told if you dont have road tax and you crash your car or someone crashes into you then your insurance is void

The estate has to resolve the loan, either through selling the car or returning it to the lender.

Well you will never get any work if you are not insured, at least do not hold out for ford triad or anybody else , you might get title loan company's but almost all of them require their recovery agents to be insured. but there are no licensing requirements. police departments must be notified after the repossession and some require to notify them before hand

if i moved to another state say Georgia or am going there can

the bank find my car to reposess it>?

In the UK if your house is repossessed it will stay visible on your credit file for 6 years. It would be very difficult to obtain credit with this on your file. It is possible to obtain another mortgage but this would be from a specific lender and your monthly repayments would be considerably higher. If you have mortgage arrears or in the process of having your property repossessed this can be stopped. If you type in your address bar "stop repossessions" you should be able to find help.

it is a sizure caused by an electric current passing through the brain

It depends - was it hit and run ? Were both cars backing or one parked and one backed into it? If the other party is no where to be found, typically your Collision coverage ( if you have this coverage) will pay after you pay the deductible. It may also increase your future rates (and /or loss of discounts for being accident free) - so use some logic if it over $1,000 to repair.

If you notified the lender, no. Be sure to fax proof of the bankruptcy to the lender.

You also need to let them know approximately when you will be notifiying them as to what you plan to do.. reafirm the balance ( continue to pay) or give up the car.

Good luck!

If you believe neither of you have received notice, then request proof from the lender. This doen't mean that just because neither of you signed for the notice that you can say it wasn't received. If they can show that it was mailed and returned...it was enough. They tried.

Have you talked with the cosigner, because this will be on both of your credit reports. If they don't have any proof.. get an attorney.

Good luck

Sign off your interest in the vehicle to the primary, letting him/her have the right to sell or drive the vehicle. Either way, the primary needs to have control of the property that he/she is paying for.

I know the police can confiscate vehicles used in crimes. And if there is a clause in the loan agreement saying they can foreclose if the vehicle is used for criminal activity, I'm sure they can, but am not sure what constitutes proof, or if they even have such clauses.

My experience at this point has not been pleasant. Texas has very few mobile home laws for consumers, the ones just implemented are for current status accounts basically. I did a voluntary repo in 2005 on an Oakwood home bought out by Vanderbilt. The mobile home was wrecked during delivery, Oakwood agreed to fix it but then filed bankrupcy. repairs were never made and Vanderbilt refused to pay for repairs. After fighting Vanderblt for over 2 years, spending money on a bunk lawyer and finding out that I got screwed, I let it go. Now Vanderbilt sold the home for 2 thoudand dollars and wants me to pay the difference of 22 thousand dollars. I filed complaints with all the state of Texas agencies that would listen. Needless to say I'm still fighting them, they sent my account to a collection agency out of Houston called Synergetic. Synergetic is a joke in it's self, their reps are oh so rude. Anyways save you'r self the trouble now. If the lender is in fault of anything to do with the mobile home sue them now before repo, because trust me they will have no problem comming after you first. I learned a valuable lesson at a young age, NEVER EVER BY A MOBILE HOME FOR MORE THEN IT WILL BE WORTH IN A TWO YEAR PERIOD!! Which pretty much includes all mobile homes period.

Turn it in to your homeowners insurance and have them work out the details. Most likely they'll go after the friends insurance, but that's their job. Let them figure it out. It's your house, so your insurance should pay for damage caused by an unforeseeable accident. If someone caused the fire, or permitted it to spread to your house through negligence or reckless conduct, then the insurance company can attempt to sue that person for reimbursement.