Repossession

No. He/she simply has to pay the loan if you don't. Has no real right to the car even if you do miss payments. Has to go to court and show you have defaulted on the loan and has paid on it.

They are impounded until further action is taken

a lot and it will hurt your credit for 7 years

Repo laws are different for each state. Check for laws in your state or advise what state you are in.

In most cases, in most places, a detective can be hired for most any reason. The detective must adhere to the local and state laws regarding investigations, however. As part of their job, a detective may speak with anyone and ask questions about another person. This is typically referred to as an interview. The interviewee (the family members) are under no obligation to speak with the detective and can refuse to provide any information at all if they so desire. You (or your friends, family, and any others) are never obligated to provide information to anyone except as required by a court of law. Believe me, you will know when the court requires it because you will most likely be speaking to a judge or a sworn law enforcement officer.

sure you can, but you will loose new car when u file bankruptcy anyway.also need more than just a car payment to file bankruptcy. laws have changed to prevent people filing bankrupcy just to dodge paying there bills

If you were notified that the vehicle was to be repo'd, and failed to turn it in, perhaps the repo guy figured the best time to get the vehicle was when he would be sure you were home. Maybe he had tried to reach you at other times and you weren't there. Sometimes people do what they have to do, just to get the job done. Yes, because it can be legally presumed that such action could create a disturbance for neighbors and/or other members of the household.

Hi! I personally use Simple Green on my van. I have used it for years. You can even clean carpets with it. It makes tires cleaner than any carwash detergent I have ever used. Plus, its concentrated, so just a little in a bucket of water is all you need. I spray it undiluted on the tires and rims tho. Also, its harmless to the environment!

The terms of most auto leases require that you maintain insurance. Failing to do so is typically cause for termination of the lease. If you can't afford insurance, you can't afford to drive.

If the terms of the lease include the requirement that you must provide insurance on the vehicle, and I've never seen a lease agreement that doesn't, yes, they can hold you in violation of the lease and repossess the vehicle.

It would seem that the report would show you have failed to pay as agreed and make payments, and had a repossession (as your question noted, you had a repo), at the very least. That you recovered and paid the amount due doesn't change that you failed to comply with the terms of the loan, didn't make the payments as required and the property even had to be seized. Things like the holiday, etc. are entirely irrelevant.

No Way. Its Your Stuff !

No, you're not out anything. In order to sue, you have to have provable damageds. They made a mistake, assuming you were current on your payments the whole time. It might have been inconvenient, but if we could all sue for being inconvenienced, the justice system would crash down on itself.

It is very difficult but if you have a good relationship with the bank they may allow you if you pay some of the debt down.

NOPE! sadly they don't even have to tell you they repoed or are going to repo. the unit. This includes houses, Good rule, DO NOT COSIGN.

In the state that I live in (IN) as long as the co owner is on the title of the van then the cowner can take possesion upon death(bc he\she already owns it) That way it doesnt have to go through probate and such. We just went through this prob with my mother-in-law and my wife. We have my mother and law's van now. I hope this helps you.

Hello,

1. Debt Consolidation takes only those debt which are current.

2. This means, the collection agency that has your debt is not at all related to the Debt Consolidation program.

Thus they are free to take any action against you.

My suggestion,

If it is a small debt, work out something with them and pay them off.

If it is a huge debt, consider Debt Settlement.

Thanks!

This is not legal advice :)

Read the fine print. Often default on one loan can be cause to call in all loans. If the loan was called, (meaning that you either pay it all off right now or forfeit the car) and you didn't pay off the loan, then they can do exactly what you described.

Renting an apartment or home will not show up on your credit. That just builds up rental history for yourself. The only time a renter will ever report you to a credit agency is if you move out with a balance that was not paid within 14 to 30 days of your move out.

If you have insufficient credit strength for a lending institution to accept a loan you'll need a co-signer.

NO. What this will do is satisfy the debt only. This will show in favor on your credit, but it will still show as a repo. You are better off paying the debt. If you are doing this, make sure to have them issue a satifaction of debt letter to the credit bureaus. This will increase your score.

yes you do so the bank or dealer wont report it to creditors. When a vehicle is repossessed it must be legally sold for the fair market value, or as near as possible to that price. The amount obtained by the sale is applied to the remaining balance of the loan. The borrower is responsible for any deficit amount plus applicable fees. A repossession is almost always entered on a credit report.

Depends,how is the amount of debt. if amount is low,only warning should be placed to debter. But if amount is big enough,then they can bully on you. Depends on the situation,how you tackle it.

Ohio follows federal garnishment guidelines which allow a maximum of 25% of the garnishee's disposable income to be seized, with the first $154.50 weekly based income being exempted. Child support, alimony, disability benefits, public assistance, and all Social Security benefits are 100% exempt from garnishment by a judgment creditor. The judgment creditor must serve (or make a reasonable attempt to deliver) a 15 day notice to the named garnishee before the action can commence. Other personal and real property that can be exempted from judgment creditor attachment are outlined in Ohio BK exemption statutes. Please note, it is the responsibility of the judgment debtor to claim the allowed exemptions.