Repossession

It sounds like that if you can prove it, he is very much at fault in this instance. I would contact the store/mall security to see if there is surveillance or utilize any witnesses or else this may be deemed 50/50 fault if there is no stead-fast proof. Regardless of the illegal parking, the driver of the vehicle in motion is responsible for any damages that occur. The law will presume he or she did not use reasonable caution in the operation of the vehicle.

A repossession will significantly lower your credit score, regardless of the balance. It will take around 7 years before the repossession is removed from the credit report.

The only thing that can happen is that they sue you. The key is to stop promising payment. If you make any sort of deal to pay it restarts the clock on the 7 year timeframe. After 7 years, it should be removed from your credit report. You may not be able to purchase a car or really anything for a very long time. * No, the issue is one of a civil nature not a criminal one.

If you're asking whether the vehicle can be repossessed for non-payment, it can, regardless of who's supposed to be making payments. Whoever appears on the contract or paperwork for the car is responsible for the payment, regardless of what informal agreements may be in place.

You can look up your credit report online. The lien holder would show on your credit report not the dealership. A repo stays on your credit for 7 - 10 yrs.

Any action which is in violation of the original contract can result in reposession. If you don't pay insurance, late on payments and even if the vehicle is taken out of state or country if the contract specifically that you couldn't.

Once the lending institution can demonstrate that you have violated one or more of the terms of the original contract, the court can (and usually will) grant the motion of the lending institution and the car (or other property) becomes theirs whether you're still paying or not.

The lending institution MAY decide to work with you, but there is certainly no obligation.

First off it is not your car. The car belongs to the lender until you pay for it. Legally if you miss 1 payment you are delinquent and they can start repossession proceedings on their vehicle.

It varies from company to company. They won't tell you their policy, even if you ask. They CAN reposses after just 1-2 missed payments, I believe. They will not notify you. I was 3 payments behind with Key Bank, and I never got a call or a late notice in the mail or anything. Just woke up 1 morning & it was gone. You DO NOT want your car repossesed, ever. If you don't want the car anymore, call them & make arrangements with them to give up the car, and it will be much easier and not look as bad for your credit. I actually wanted my car back, and although I only was behind $600-$700, it cost me about $1600 when all was said & done to get it back. (And my radar detector was gone, the battery was dead, & it had obviously been driven very hard.) Even if you can't pay them right now, calling them is always better than avoiding them. If it is a temporary financial situation, many will offer a deferrment for a month or two. If they don't, ask. Also, if there is any danger your car may be repossessed, don't leave ANYTHING you don't want to lose in your car when you get out.
Usually 3 months. There could be shorter or longer terms by lenders.

Yes. It sounds like the court document your supervisor signed for was the order for garnishment. As such, whether you signed for it or not the order is good; the letter was simply a notification. If your boss didn't inform you he signed for the letter, it doesn't affect the credit card company's legal right to have a judgment against you.

Depends on what you mean by

thnmn,

Any car is start; preferably a car that will start

It depends on how valuable you consider your credit to be. If you pay off the car, at least you'll be following through on the promise you made when you financed the car. Getting a little behind on a debt isn't nearly as bad as writing it off. Recognize too, that after they repo the car, it will be auctioned, and that probably won't be enough to pay the remainder of the debt. The lending institution will then send you a bill for what's left. You still owe that and now you don't have a car. If you write off that part of the debt or otherwise refuse to pay it, you probably won't be given many options when you try to buy your NEXT car.

Yes, late fees indicate that payments were not made on time, which renders the original agreement invalid and allows the lender to repossess the vehicle if they so choose.

Daughter and husband are getting divorce and she is the co-buyer can she take it out of state

YES um no ! Technically yes, but there will always be fees attached that run up the price, such as fees for the guy who picked up the car, salesman fees, transfer fees, legal fees... don't worry, they won't let you get any of that money back.

Q1) "If I offer to make a payment on this debt can they legally refuse it?"

Yes. They are under NO obligation to accept anything less than the original agreed amount. Simply, this means that you originally had a payment plan and breached it. They do not have to accept any other offered plan (or payments).

Q2) "I have heard that if a creditor refuses any type of payment on a debt that it was automatically considered paid in full. Is this true?"

NO!! NO!! NO!!

That is an old 'wives tail' that probably derived from the requirement that payments must be in 'legal tender' and if refused, the debt MIGHT be found as waived. For example, you can pay this debt (in full) in pennies, nickles, dimes, dollars, etc. If the creditor refuses these legal tenders, the debt MIGHT be found to be waived. However, the creditor is NOT obligated to accept less than the full amount, nor in non-legal tender (horses, hogs, chickens, etc.). ....more about it you can visit: http://lawvolunteers.com/law/838/42838-c-collection-agency-refuse-payment.html

A manager of a title company is not required to be licensed title agent. Only persons actually issuing policies are required to be licensed. Check with your particular state's requirement. In many states, there must be a full-time, licensed title producer onsite during regular business hours in a title AGENCY. Therefore, if that is your state's requirement for a title AGENCY, the answer is YES. Ditto, a licensed title producer's license may be required as a title examiner/title officer, reading title and issuing final policies. However, in some states, if you are a foreign corporation or LLC doing business in that state (meaning you are licensed there, but do not have a physical presence there) ONLY the entity license (office license) and individual holding the entity license must be licensed and registered as title producer. The out-of-state examiners do not have to hold a license in that state and if their home state does not have licensing, they can exam and issue in the foreign state. Again, check with your state's DOBI or DOI as to their requirements. Every state is different. For example, New York does not have licensing requirements at all, however, the Notaries are required to pass a state exam in order to be issued their Notary Public commission. New Jersey, Florida and Pennsylvannia have specific licensing rules as to foreign corps/LLCs as I am sure other states do as well.

If they have called in the note and you have not paid in full, they have the option of selling it or holding it for you. Once you've paid the full note and they mark it "paid in full" they are obligated to get both the vehicle and the title to you immediately.

If the vehicle was purchased after marriage YES most states recognize any purchases made after marriage as Joint purchases

No. They are doing their job and it takes time to process things. You need to talk to your bank and find out if you are suppose to pay for the repo release. Show the repo guys your paperwork saying the car is released. You may still have to pay a fee to them, that is how things work. If you are irresponsible with car payments, then you pay. You can always try, but it's better to work things out amicably. Remember, he has your car and you might want to get it back without excessive damage. Maybe there are some fees associated with the repossession and he is waiting to be paid. You need to be careful how you approach this one. Keep in mind that YOUR actions initiated the series of events and it would be good for you to approach it with the appropriate attitude so that you don

The person can pay the bill if the want, but that does not give them ownership of the car. Vehicle ownership is determined by the names that appear on the title.

not normally the contract is with yourself, not them

Regardless of the information you find on the internet, you should not substitute a blog post for LEGAL ADVICE, and most definitely should consult with attorney regarding this general information.

The loss mitigation department of your lender is the best place to start. Expect to spend a lot of time on hold, and to get the run around from anyone you speak to.

How to write a letter explaining your mortgage and/or other lates when applying for credit.

OK, so you have gotten your credit report in the best shape possible and you are trying for that new home. BUT, your credit still has some dings. Even though you may qualify, the lender will ALWAYS ask you to explain any lates on your report. This letter will not help a desperate credit situation, but may make a difference in a marginal one.

The basic premise of this letter is:

* The situation you were in which caused you to pay late was beyond your control

* You have vowed to never let it happen again

* Here are the things you have done to make sure it doesn't happen.

To Whom it May Concern:

I am writing this letter to explain my late payments on my mortgage to XYZ mortgage company and to American Impressed in Jan 2000.

I am very distressed that this has ever happened to me, but I was <laid off>, <seriously injured>, <going through a death in family> . The circumstances drained my carefully put aside savings and I was forced to miss a payment because of it. My financial advisor told me not to tap into my 401K, and I was able to recover from this crisis and begin making on-time payments.

I have always prided myself in paying on time, and I have taken steps to put away more money in my savings account to guard against other unforeseen occurences like this.

Sincerely,

your signature

This letter is fine, but it is better to remove your late payments first or contact the creditor that reported them to try and have them removed. You can either remove them by negotiating their removal upon final payment with the original creditor or by disputing them to the credit bureaus.