Repossession

A Collection Agency that "owns your debt" can not garnish any wages.

Assume that the collection agency in their efforts to collect the debt for their client, sues the debtor and then provoke that the Court works an arrangement to pay the debt, if the arrangement includes garnishment of wages then, the Court can garnish salaries.

And there is laws to garnish wages that apply to every state.

As an auto technician for over 20 years (not as a tax professional), I have found that even though I have itemized I seldom had enough work related expenses (tools) to be able to use as a deduction. Unless you spend a large enough amount of money or if you are self employed you may be better off using the standard deduction. Yes, You can claim anything you spend on work, If your HOURLY,SALARY,or CONTRACT, But, Keep in mind that if your an hourly worker and you claim A lot of stuff on your taxes that puts up A RED FLAG at the IRS. and you could be AUDITED, so keep your reciepts,,,,,, Good luck, Jamison. Your pay arrangement, that is hourly or salaried, is irrelvant and it certainly isn't "anything" you spend. You can deduct only unreimbursed employee expenses (Line 20 form 10, line 9 form 1040R) that are: 1. Paid or incurred during your tax year, 2. For carrying on your trade or business of being an employee, and 3. Ordinary and necessary. An expense is ordinary if it is common and accepted in your trade, business, or profession. An expense is necessary if it is appropriate and helpful to your business. An expense does not have to be required to be considered necessary. You may be able to deduct the following items as unreimbursed employee expenses. As all misc. deductions, they are generally subject to the 2% floor. Business bad debt of an employee. Business liability insurance premiums. Damages paid to a former employer for breach of an employment contract. Depreciation on a computer or cell phone your employer requires you to use in your work. Dues to a chamber of commerce if membership helps you do your job. Dues to professional societies. Home office or part of your home used regularly and exclusively in your work. Job search expenses in your present occupation. Laboratory breakage fees. Legal fees related to your job. Licenses and regulatory fees. Malpractice insurance premiums. Medical examinations required by an employer. Occupational taxes. Passport for a business trip. Repayment of an income aid payment received under an employer's plan. Research expenses of a college professor. Rural mail carriers' vehicle expenses. Subscriptions to professional journals and trade magazines related to your work. Tools and supplies used in your work. Travel, transportation, entertainment, and gift expenses related to your work. Union dues and expenses. Work clothes and uniforms if required and not suitable for everyday use. Work-related education.

You have not bought the car, Untill the loan has A signature on it, All other paperwork is just to verify that you are willing to continue from that point forward. A carlot WILL tell you that you BOUGHT it, but the answer is NO....... Now with that said,when you take A car for ANY-REASON from A carlot, and use it, then bring it back without buying it, The carlot can charge you for several things, Like,,,,,,,,,mileage,depreciation,damage,time,and whatever else they can think of. This could be as high as, $300.00 for haveing the car overnight and putting 40miles on it.,,,,,,,,,,,,Good luck, Jamison.

IF YOU GOING TO FILE BANKRUPTCY KEEP YOUR CAR AND PUT IT IN YOUR BANKRUPTCY IF YOU NEED YOUR CAR. IF YOU JUST WANT TO GIVE IT BACK JUST GIVE IT BACK ANY TIME BUT THE LOAN STILL GOING ON YOUR CREDIT FILE SO IF I WAS YOU I'LL PUT IT IN WHAT EVER CHAPTER YOUR FILEING.

Hello, Jamison here, Yes! Not likely though,,,,,,,, Unless its one of the BIG-3

Hello, Jamison here, On credit score==EXACTLY THE SAME You CAN try to explane it to the lender, They will listen but they wont care too much,, If its NOT REPO'd Yet put A foot in someones Behind side!!!!!!!!!!!!! If its REPO'd== MAKE THEM PAY IT OFF!!!! This is what the bank wants, And this is the real reason they want A cosigner in the first place.

in my state you don't have to but there are some "no fault" states like Michigan. I would call my insurance and ask them to make sure.

Yes, but not all at once. Creditors can only garnish up to 25% of disposible income per week. Go to http://www.courts.state.md.us/district/forms/civil/dvcv65br.html

for more info on garnishing wages.

i dont have an answer just proving a point sorry guys

Most lenders will not let a borrower switch co-signers. The reason for this is that the lender would have to go through the approval process all over again including pulling credit reports, calculating percentage rates etc.

A finance company could settle the auto loan. You simply need to get in touch with the company and make an offer. Be sure to get any agreement in writing.

She can cry all she wants, the car is now hers. As soon as you leave the lot the car became hers. They won't take it back and why should they, she is 18 and signed a leagal contract. I use to sell cars, so even if you take it back to the dealership and leave the keys in it, we will just drive it back to your house and leave it in the driveway, happens all the time. At least she learned a leason. She can cry all she wants, the car is now hers. As soon as you leave the lot the car became hers. They won't take it back and why should they, she is 18 and signed a leagal contract. I use to sell cars, so even if you take it back to the dealership and leave the keys in it, we will just drive it back to your house and leave it in the driveway, happens all the time. At least she learned a leason.

A repossessed vehicle is sold at auction to repay the lending institution. After the vehicle is sold, any money will be used first to pay the auction company, the repo agency and then all remaining funds will be applied toward the amount due on the loan. If anything is left over, you should get it. If there is a deficit, the bank will contact you to make arrangements for collection of the amount owed. You typically don't get any money "back", but usually end up owing the bank.

As soon as you leave the lot with a new car you have signed for and purchased, it becomes a used car and the value drops immensely. You can try, but you bought the car, and you own it. Unless the dealer financed the car, he has no interest in it any longer except for servicing it. Your only chance is to go back and ask the dealer if he will take the car back. If it is a used car, he possibly might. A new car, I seriously doubt it.

Hi Well, unfortunately, the bodyshop has your car and one way or another you aren't getting it back until somebody pays for it, but I think first you should check your policy and make sure you are covered for whatever happened to put your car in the shop. If it is a new car and there is a loan outstanding on it, then you have to carry full insurance, so you should be covered anyway. You need to talk to your insurance guy and ask him if HE thinks you are covered. If he says yes (which is the only reason I can think of that the insurance would tell you to get an estimate) then ask them why they have not paid for the work and sent the check to the bodyshop as you authorized. Your question is a little confusing but you seem to be saying the insurance told you to take the car in (they usually have a "preferred" body shop with twhom they have a prearranged relationship for cheaper repairs). You took the car for an estimate, which presumably the bodyshop sent to the insurance company. The insurance company MUST have given the shop the OK to do the work because the shop is not going to do work without a guarantee that SOMEONE is going to pay them. In which case, that authorization exists at your insurance company and it has nothing to do with the body shop "forgetting to ask the insurance company if it was ok to do the work" Which brings me back to the top of this answer. If the body shop was decidedmto do work that the insurance company has not authorized them to do, then in a perfect world the shop would have to eat the cost and give you your repaired car. Unfortunately, they are more likely to tell you that they are going to sell your car to try and make up the expense of the repair. DID YOU SIGN ANYTHING TELLING THE BODY SHOP TO GO AHEAD AND DO THE REPAIR regardless of the insurance company's involvement? If you did, you are probably stuck if the insurance company doesn't come through. But go to them first. You pay an insurance company to clean up messes like this if they are liable. If they can't or won't help you, either write the car off or you will have to at least talk to attorney otherwise.

Doubt you will be able to stop it now. If you were late, once then there is the assumption you will be late again, and garnishment gaurantees the payment is made and on time. Sorry, contact the company you owe and talk with them, that will be your only hope I think.

Ask the creditor to send you written verification of the debt including all of their documents after incurring the debt. If the cancellation of the debt is not indicated in their documents, then dispute the debt by providing your written notification of cancellation of the debt to the creditor and if unsuccessful, then dispute the debt with the credit bureaus who will initiate an investigation with the creditor and the credit bureau will usually repond to you in 30 days. If no response from the creditor then it will usually be deleted from your credit report. If the collection harassment continues then ignore it realizing that probably no legal action will be taken against you or you can contact an attorney to contact the creditor. Either pay the debt or file bankruptcy.

The only way that they can legally repo your trailor is if you default on that loan or if you listed the trailor as calateral for the personal loan! if you didnt put the trailor as calateral then no they cant touch it!

You do not want your car repossessed for any reason! it will ruin your credit, you will still have to pay for it once it sells for less than what you owe at auction, and eventually a repossession catches up to you!

What you can do to save your car is contact *CAR HELP USA* tHIS company will lower car payments, lower interest rates, get you current with your auto loan, stop repossession, refinance, and save your car! You will need to act quickly as a volunrarily repossession does not answer ANYTHING!

it depends on the car

no

I just helped a friend do this very thing. They traded a 2006 Outback in for a 1998 Ford Windstar van. They wanted to get out from under the payments. They had equity in the new car, so the deal went down like this: we traded the new car to the dealership, they pay it off and we get the van, out the door, no money out of our pocket. If you have sufficient equity in your newer car, you can even walk out with cash and the car, but look and listen carefully. The dealership will try to get you to pay the "dealer prep fee" that "everyone" pays. I told them no--we have enough equity to cover everything. Hope this helps

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