Repossession

no you do not get to puchase the vehicle before it is auctioned the loan company will have tried to contact you to make the payment it would then be up to you to get the car from the other person by way of repossessing it yourself through small claims court

Wait until the account goes to collections you will be charged the difference between what was owed on the car and the amount the car was sold for at auction plus some legal and auction fees. The lender will try to collect the balance from you for three or four months then give up and sell the debt to a collection company for about six cents on the dollar offer them ten to fifteen cents if they will remove it from your credit report.

The car will be sold to satisfy part of the loan. Any money left over after paying for the repo man, and any admin costs will go toward the loan. After that, whatever is left on the note is your responsibility. You STILL have to pay off the loan unless you file bankrupcy.

Go to the individual banks, and credit unions, and talk to them.

Be sure to make calls to the different offices holding the car. Let them know that the car has been paid, as far as the bill due, and that want to make sure that they understand through documents, recipts from billing to impound service.

Assuming the vehicle is repossesed and sold to satisfy the debt, you will still be responsible for any debt remaining after the sale. It all depends on whether the vehicle is worth more than the remaining debt. If you are "upside down" in the loan you are liable for the difference.

No. It is called theft by conversion.

I doubt it but you can always call and ask.

Yes they can. Whomever you owe money too, sit down and start writing those letters to one or more companies you owe the money. Explain your circumstances, then send the letter(s) Registered Mail (this means someone at the Company such as the Accountant will have to sign for your letter) and be sure to keep a copy of the letters you write. Make a good effort to pay what you can afford. If you pay $10 - $20 on a credit card debt and have written the company they can't legally do anything about it. You can also have them lower their interest rates! Marcy No they cannot threaten any action whatsoever, as stipulated in the FDCPA. Any collection agency that alludes or actually threatens a consumer/debtor is subject to being fines and other penalties. Such action should be reported to the involved party's to the justice department of the state attorney general office.

No.Not if the gate is locked. They would have to get a warrent. * The repo man will not come with a warrant. The Sheriff might if the bank has sued and a court has issued a Writ of Replevin. They can come on your property and as long as they do no damage they can take the car.

A creditor cannot garnish your wages unless they file a lawsuit and obtained a judgment against you. The time deadline to file a lawsuit will vary by state.

Yes. However, all t's must be crossed and all I's must be dotted for them to even talk to you. There are numerous things that must be in order for a repoman to pick up a vehicle. Was there a written contract stating that you could repo the car if pay,emts weren't made? Are you listed as a lienholder on the title? What are your state's requirements for repo? All these things must be considered before calling the repoman.

More than likely your insurance. Check with your insurance carrier for the answer.

Yes, the loan is not paid in full if there are unpaid lates fees

Can wages be garnished for the balance of an auto loan in the state of Delaware

Sell it if you can. Even if you have to sell it at a loss. Let the bank know what's going on and even though they'll complain and want to make arrangments for you to pick up any of the loan that isn't satisfied, at least it will be better for your credit in the long run than if you let them repo it.

Once you are late by a single day you are in violation of your loan agreement which means you can be repoed.Most but not all lenders try to get your loan current within 30-45 days before they repo.Depends on your payment history too.

Probably because one of the credit reporting agencies screwed up (this is a lot more common than you would think). You can first get a copy of each of your credit reports for free at annualcreditreport.com (this is a site where you actually get free credit reports by federal law, not one of those scam sites that give you a free copy of your report in return for your giving them a credit card number and they sign you up for some program or something). Once you get your reports (there are three national reports, get one of each at the site I listed above), then review them and see how many of them list the bankruptcy. Then, you can go to the website for each credit reporting agency that lists the bankruptcy and do an online dispute. Once a dispute is initiated, the credit reporting agency is required by law to review the false information and correct it. They may make you produce documents verifying it was not your bankruptcy, so you may want to get a copy of your son's bankruptcy paperwork on which the last 4 digits of his social security number appears, and send a copy of that plus a copy of your social security number to the credit reporting agency to prove it was not your bankruptcy. Of course I cannot give legal advice on here, but these are my suggestions that you can follow or ignore. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts and law, which I do not warrant, and I am not suggesting any course of action or inaction to any person. Speak to a lawyer for specific advice. If you have any questions, please refer to a lawyer in your jurisdiction. Thanks!

If the co signers credit is going to be affected because of the lack of payments from the payee, and if the co signer is paying for the payments, then yes the car can be given over to the co signer, especially if the payee is not paying for the car that was agreed upon. check with the finance companies, and your local state, county laws.

If you have met all the terms of your loan including insurance etc. then you have excellent grounds for a lawsuit.Impersonating a police officer is illegal under any circumstances and you should contact the local police and file a report against the repo co. and contact your states attorney general office.Remember to include the lender in both reports because this repo-moron is their agent so they are responsible as well.

If you are not going to reafirm the loan, in other words- keep and pay for the car, then yes the bank will want the car back. Usually they will try to get the car back shortly after your 1st court date when the court has oked your petition to go thru bankruptcy.

How about tell the 20 year old adult to pay for her own car insurance? Or you can transfer the title to her, so she legally owns the car and she can apply for car insurance, which you will keep paying. You cannot legally own a car in Washington DC without having valid insurance. If Texas is her permanent residence and they don't require insurance(I assume this is why you are asking)then she can have the title transfered to her name in Texas. To prove permanent residence doesn't mean you have to live in an area most of the time. You just need to have your bills sent there. Think of congressmen who live the vast part of their time in DC, but have residency in their home state.