Repossession

License tags are the property of the state which issued them. The repo company should return them to the DMV or motor vehicle bureau. Different rules in different states. In some states they stay with the car and in others they belong to the person they were issued to and in others they are returned to the state.

your car is parked unless you have someway or another had the car in drive while you weren't in it then how can you pay for damages you did not incur and if you weren't parked in a no parking zone or a handicap spot then the person who hit you is responsible for all damages because they weren't paying any attention

A cosigner can only be removed from a loan through refinancing of the original agreement.

After a repo the loan holder will sell the vehicle at auction and any amount you owe less the sale price is your responsibility. Interest on that amount is usually negotiatable and will be waived if you pay any shortage.

You have to pay the new company. It's still a debt and as such the debt was sold as an asset of the old company. It would be NICE if you didn't have to pay it, but you do. Yea, wouldn't it be nice if we didn't have to pay after the local finance company sold my note to GMAC?

Since it's accurate, there isn't much you can do about it. If they had lied or if someone else had done it perhaps you might have cause to complain. Next time, pay your bills on time and the car won't be re-poed and you won't end up with a bad credit rating. Actions have consequences.

It is the notice given to the debtor and the IRS that the debt has been cancelled. The amount of the debt is now considered taxable income under IRS regulations and must be included on the debtor's tax return.

usely if you talk to the tow company an offer the tittle an th tow charge to there lot, they will let you. hope this helps

The owner of the articles in the car retains possession. While a car may be repossessed with articles inside, they must be released to their owner upon request. If they're not, the company can be liable for theft and a police report may be filed.

NO.

The only way to avoid having a judgment entered against you is to show up on the hearing date of the lawsuit with a valid defense. Please be advised, the only acceptable defense in a creditor vs. debtor lawsuit is the debtor/defendant bility to provide proof the debt is not valid. As unsympathetic as it seems, loss of employment, illness, not having the financial means to repay, is not considered a legal defense.

Yes.

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.