Repossession

If you are married, you are still a legal entity with the other person, so a judgment filed against them would also have your name on it. Be sure to include some verbiage in your divorce agreement about it, and if possible, arrange to have it paid from any joint monies before sorting out the settlement. Obtain a copy of the "paid" letter for your records.

He's not allowed to repossess your baby. Note: Child welfare service workers are not repo men; they CAN take your baby.

A charge off is when a creditor basically gives up trying to collect the debt and "charges off" the debt from their books. They do this more for their benefit than the one who owes. It allows them to close out the file and clean up their records. This looks especially bad on a credit report.

Unless you have a stipulation in your divorce decree regarding responsibility for the loan, you are stuck until the loan is paid off. The only one who can repossess the car is the company who holds the loan, but the amount owed would still be outstanding. You could see if you could get him to refinance the loan on his own...I am not sure about your liability if the car is totalled without insurance to cover it. Meanwhile, pay all of your bills and work on getting your credit into shape. If you can save money to pay cash for a car "for now," that would help you for the short term.

If you can't pay anymore, the lender has the right to repo. The repo will be reflected on your credit report just like everything else. It will stay on their just as long as everything else. If it is auctioned, the lender has the right to charge you and seek judgment on the difference that the car sold for vs. what you owe them. So yes you will be hounded for the difference plus any costs to repo, ship, auction, paperwork, etc.

That all depends on the condition of the car. It will work fine if it is in good condition.

Sue them both, plus the driver, plus their respective insurance companies, and let the court find them "jointly and severally liable," so you don't care which one of them actually has to pay.

A 3rd party creditor is the other party that is involved in a legal dispute between the offeror and the offeree. Creditors are typically referred to as collectors.

Is he on the deed as well? Those are two separate entities. If he is just a co-signer on the loan, you can sell at any time. If he is on the deed, you have to do an "Affidavit of heirship" process.

If you are the only surviving heir this is simple. You just have to find 2-3 people that knew your grandfather and know that he wished you to have his property.

If there is more then one or two heirs to his estate, each one will have to sign an affidavit of heirship.

it depends

In most cases immediatly upon default (non-payment) Read your finance contract, there should be a due on demand clause. Hope this helps.

"Someone else" gets the property. The surviving spouse can certainly contest the will. And there may be specifics in the state that entitle the surviving spouse to a portion of the real property, or a life estate in real property. Consult an attorney licensed in the state in question.

if i get my car repossessed, can they put a llien on the house?

IF BOTH OF YOUR NAMES ARE ON THE LOAN AND ON THE REGISTRATION THEN YES THAT PERSON CAN TAKE THE CAR AND NOT GIVE IT BACK. BUT IF IT IS REGISTER WITH THE STATE ONLY IN YOUR NAME THEN NO. AND IT BECOMES A STOLEN VEHICLE. BUT IF THE VEHICHLE AND THE REGISTRATION ARE BOTH IN YOUR NAMES AND THAT PERSON DOES NOT WANT TO GIVE IT BACK THEN YOU NEED TO GO TO THE LENDER AND TELL THEM WHAT IS GOING ON.

If road debris flies up and hits your car, 'Comprehensive' Insurance coverage will pay all but any deductible up to the limits of coverage purchased for the car.

I have never lived in Arizona but I am in car sales and am familiar with the law in Tennessee and Virginia and North Carolina I would imagine the law would be similar because of interstate commerce laws.

If a car gets reposessed that has a balance on it from the leinholder the leinholder has a reposibility to its shareholders to recover as much of the risk as possible. What leinholders do is take a vehicle to an auction or private sale and get the most money they can for it. If the amount owed by the individual is $12000 and the financial institution only recovers $8000 it is the responsibility of the debtor to pay the difference of $4000 plus any charges accrued to prpare the vehicle for sale such as tow truck and or auction fees. if the car gets sold for more than $12000 than the former borrower gets the difference because it is still considered their asset and debts.

They usually wont get involved unless they are going to repossess it. You will still be responsible for th estorage fees and fines. Generally, a lienholder will inquire of the impound lot, as to if the vehicle owner has made contact and attempt to redeem. If there has been no owner contact or, as in this case, if they are made aware of the owners situation, they would probably monitor the status of their interest (the vehicle) to be sure it is redeemed prior to sale date. If the owner or lienholder does not pick up the vehicle it will be sold at auction. Proceeds first cover fees to the impound company with any balance payable to the Clerk of Court for disbursement to lienholder. (Florida)

That other insurance company will probably total out the vehicle, depending on the company this could be: actual cash value minus your ded and taxes or blue book value minues ded and taxes or you can salvage the vehicle and buy it back from the ins company

From what I've read over the past few day trying to get my own car back...it depends on the state you live in.

California allows you to reinstate your loan but it's not easy. Obviously people enter this situation because of financial hardships and then they want all late payments and fees, extra $400 fee to process the repo, then towing $250, then storage up to $40 a day.

In my sad case of 8 weeks of unemployment after making nearly 6 figures included other fees we would normal just pay---now difficult and impacts the retrieval of my car... I had to pay parking tickets $400, monthly insurance $225, ironically our registration expired the same monthly $369, and the negative balance in of my joint checking account...this is disgusting and a misfortune that may be to rich for my blood.

I hate that they can do this no matter how hard you try or keep in contact. My car payment was less then 45-days late. And my rep was informed that my first paycheck for my new job was Friday, they took it 4 days before. I hate San Mateo Credit Union.

A typical day for a knight was serving his lord which gave him land money and protection if the knight would fight for him against other lords

a voluntary repossession is where you turn over the vehicle instead of us having to come get it from you. www.aerecoveryandtowing.com

Maybe, by Fedral law your car can get repossessed if you are ONE DAY past due on your car payment. I know many repo agents and they have a saying "Support your local repo man-- miss two payments" I wouldn't hold off much longer to pay them. You should call them and try to get a deferment or two.

In the case of the financial insitution I work for, the balance of the debt must be $5000. (THIS IS FOR MASSACHUSETTS ONLY)The minimum may change if the account is charged off and sold to a third party collector.