Repossession

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.

Hopefully you will be able to rescind the contract within 72 hrs. of signing. If you are dealing with a reputable company

If they just "threaten" you, and you bring it current, then no. But.. if they send you a letter threatening repossession and calling the entire note, and you do not pay the entire balance on the note, then yes they can take your vehicle.

No, unless you try to run and hide the car, and even then not likely. But they can reposes your car, sell it, and you pay the difference in what is owed and what the car sells for, plus repo fees. You credit is also ruined for 7 years. Call the lender and work something out. Do not allow your car to be reposed.

First you need to call your financing company. Once you call them they will let you know whether you qualify based on the company's guidelines and terms of your contract.

if you do qualify, they will let you know if you need to sign and agreement and pay a fee, on most cases with car loans they will mail/fax you an agreement that you need to sign and send back with a fee (some companies don't charge a fee).

after everything is completed one of your payments will be defer until the end of the loan, for example if you are due for November and your loan ends in october of 2010, after the deferment your next payment will be in December and your loan will end in November of 2010.

Also keep in mind with some loans only your regular payment is deferred not the interest, so your interest will continue to accrue so the next time you make a payment they will take the interest for your deferred payment plus the interest of the current payment, therefore less money will be applied to your principle. If you defer too many payments and don't pay more to make up for the interest you will have a balloon payment by the end of the loan. So don't defer payments unless you absolutely need it. and lastly on a car loan it will need affect your credit unless you go over 30 days past due.

I'm collector for a bank in Southern California.

While it normally a tough thing to do, although there can be circumstances when the responsible party is amiable to it..and sometimes you can get a 3rd party involved to essentially get you there.

The responsible party is only liable to pay for the cost of repairs up to the value of the vehicle...whether you want it fixed or not. They never have to pay more than the value of the car...that is the most you had to lose.

However, if they pay you the amount of the repairs they have no interest in the car. But if it is totaled the paying party gets to own the wreck. So, if the wreck as a junk value that is more than the difference between the cost of repair and the full value of the car, they may be interested in paying you the (higher) full value and selling the car for the junk value, essentially costing them less. But, they also have to be interested in messing around with the whole thing more, which insurance companies generally aren't - every action and decision costs them more money.


If you can make it easy for them, basically finding someone who will buy it from them, they may do what your asking. But once again, there isn't anything stopping you from doing exactly that...take the $ for the repair and sell the junk to the interested party...adding the 2 together may even get you more than full value!

That depends how you define "slowest". There were many old cars that were very slow by modern standards. A Fiat 850 Idromatic takes 25 seconds to speed up from 0-97 kilometres per hour which is its top speed.

If a leased vehicle is in an accident, the lessor has to notify the lease company, along with their insurance company. Sometime the lease company will have you go through your insurance for repairs, other times they send you to their repair shop (if they have one).

The bank will sell your car at what ever price they can get and apply the proceeds to your account. If you owe them more than they get for it they will want you to pay the difference. You should try to sell it youself for enough to pay off the loan. Banks won't

Make an appointment with your bank and explain the situation. Do not ignore the problem. The bank does not want your vehicle. Quite often they will accept a lower payment, it makes the loan more expensive but much cheaper than taking out another loan.