Repossession

Both. But in reality, they go after the money. If the primary is broke, doesn't have a job, homeless, whatever, the bank will go after the person with the money. Now aren't you glad that you co-signed? They'll first try to get the primary signer to pay the debt. If he can't, the company will hold the co-signer liable for it. A co-signer is just as legally liable for the debt as the primary signer. You know when it's a good idea to become a co-signer? Never.

If the repossession agent can get to the vehicle without breaking anything or causing a civil disturbance, he can take it. Private, public, or government property, or who signed the loan is irrelevent.

If this relates to a joint account holder or cosigner, then yes the person's credit rating will be affected by a repossession. Yes, whoever's name the car is in will be affected by the car's repossession. Only if the car is somehow tied to the account. Only a bad payment history on that joint account can affect your credit.

The person would have to be deceased in order for the estate to be distributed. If the person left a Will then the terms of such would apply after any debts and taxes have been paid. If the person died intestate (without a will) the state probate succession laws apply.

It depends on when the lender reports to the credit bureau companies-- If they showed the repo today on their books and sent their update information to them also today-- then all 3 credit companies will show it today/tomo the latest. If they showed the repo today on their books but they sent the update to all three credit companies two days ago, then the repo will show up next month when they report again. On the other hand, there are lenders that send that information as soon as it happens -- so if you are going to do something do it now but don't be disappointed if it already show.

Generally speaking, they can only change your due date so it benefits you - such as later than originally agreed. This may be the case if your due date falls on a holiday. Check your loan documentation for specifics, but you shouldn't be held accountable if the date was changed without making any effort to give you advance notice of the change.

Generally it would not affect the terms of the "13" if it has been approved and is already in force. The safest option would be to contact the bankruptcy trustee for specific advice on the matter.

The crux of repossession depends on the contract you took out at first with the other party. My suggestion would to refer to the contract and find any clauses pertaining to repossession. The legality behind repossession is quite complex and difficult to outline and I am not a lawyer to give advice on that matter but can only give suggestions as a public person. For example, if you went into contract to buy a new car and overtime you could not pay the monthly installments then the other contracted party can take court actions through specialized repossession agencies to repossess your car. This may include further charges and expenses the other party can incur upon you on top of what you have in debt with that party. The list is long. Do not quote me as this website is open to international viewers thus each country and legal system may operates differently. It is wise to seek legal advice or talk to someone who has experienced it before.

Any type of monetary loan agreement you enter into makes you liable to the terms you signed on for. The car being repossessed is not a good thing. More than likely they will report you to the 3 top credit agencies and a mark will be on there in a number depiction to indicate how many times, months and amount defaulted on. You will likely have problems getting decent credit in the future with low rates and dont be surprised if your turned down for any credit, either. Well, this is my advice, create a budget for your finances, stick to it, live within your means, pay for items cash so you dont create more credit and see if there are any seminars in your area for financial planning or how to live moderately.

as long as it is size appropriate. Can be put on a Jeep CJ so no reason you can't get one on a F150

This is really odd, I never heard of a bank that won't give it to you in writing. However, you can save your butt by doing these things. 1. Come in and talk to the manager, or whoever it is that said they will do this to you. Bring someone with you to witness, and ask the manager to have an employee there to witness the conversation. That way you have someone that can help you hold at least 2 employees accountable. 2. If you can, bring a tape recorder. You have every right to record the converstaion because it is about YOUR loan with the bank. You can get a cheap one at Target for 15 dollars. 3. Ask the bank to print an up-to-date statement of what you owe AND keep all of your car loan statements. This way, you have a document of the day you went into the bank. (when documents are printed within the branch, the time and date is usually on the document on the bottom) And you need your states to show all the payments that are being made. 4. If you can, go to the bank to make payments instead of mailing them in. Receipts usually print with the teller's name and time you came in, and at this point ask for another statement. Also ask the teller to photocopy the remittance stub and sign it and give it back to you. 5. If the bank refuses to return your car, you can take all of this to court. With the cassette tape, you have proof that they bank will give you back your car, and you have a physical witness of the conversation that took place. And you have evidence that you really put an effort to make it current. Because realistically with my banking experience, people would rather have their loan charged off if they can't get their car back, and although its not the smartest thing to do, most would agree that they don't want to pay for something they can't get back.

Absolutely! You are more likely to be home, so there is a higher chance they will connect with you and the vehicle in question.

Get bonded and insured. Get your business license. Then, get some reliable people with experience. Get the word out.

First and foremost, you are never responsible for charges made to a credit card without your knowledge. You should request a copy of the statement(s) in question to be sent to your attention. Upon review, if the charges are fraudulent, advise the bank and they will put them into a dispute file. You will likely need to complete some paperwork and the merchants will have to pull receipts with signatures authorizing the charges. During this time, disputed charges do not incur interest or penalties. Regarding not being a co-signor, you will need to ask the bank for a copy of the original credit card application where you would have originally opted-in as a co-signor. If they are not able to provide this, legally you cannot be held liable for these charges. Good luck!

Yes. Once you have failed in the conditions of the loan agreement, the lending institution can forclose if that is the remedy described by the agreement.

The best option is to contact the lender directly to discuss available options.

Please be advised, Georgia does not require a lensder to send a "Right To Cure" notice before taking repossession action.

There are only 2 states where the statute of limitations is the longest--15 yrs., Ohio and Kentucky. Either way--the time starts when the last payment/sale of the car amt. was applied to the balance. Make sure your time limit is up when you call your Attorney General in your area. Have the name of the company, phone number and the name of the collector/s for the Attorney General Check the following link for your state's statute of limitations http://www.bankrate.com/brm/news/cc/20040116b1.asp?print=on I Would Contact Your County Attorney About This. Sounds Like The Sham Artists Are Out Again. I`m Almost Sure In No Way You Are. But For All Concerened, This Needs To Be Made Known. Call The County Attorney Give Him The Facts And The Person`s Name That Has Called.

No. DMV ties the insurance to the license plates. If you still have the plate, then the state wants to see active insurance. This is the only way they know you still have the vehicle. In Florida, you can turn in the plates and receive a receipt for them. This will allow you to obtain new plates at no charge when you get another vehicle. You can also sell them back for up to 100.00 and pay for a new plate later when you purchase a new car.

Wages can only be garnished for three reasons. 1. IRS 2. Child Support 3. Student loans. Anyone that told you different committed fraud if it was a collector. go to ftc.gov at the consumer section and you will read all your looking for

A credit card company can sue you and receive a judgment in court demanding you repay your debt, but they can't take your car (or any other property) or put you in jail. Check out the Fair Debt Collection Practices Act for your rights as a consumer.

When is the best time to buy a car? In summary the best time to buy or trade in a car will be as below:

End of Year

End of Month

Monday to Friday

Not without a court order.

This question is fundamentally flawed. The repossessor is not removing *your* vehicle from the garage - they're taking *their client's* vehicle - so the answer is YES.

You are still liable. As soon as the bank either auctions or sells the car, you will be responsible for the deficit (remaining) balance. Most times, the auto is not sold for the amount due on the loan plus repossessionfees, storage fees and transfer of title fees etc.

The faster you take care of the balance, the faster it will show up on your credit as paid. If you don't do anything, anc neither does the bank--it will remain on your credit for as long as the statute of limitationsin your state. Check this link for your state: http://www.creditinfocenter.com/rebuild/statuteLimitations.shtml#2

Take note!!!, the bank can get a judgment if they haven't already--they can garnishee your wages and/or yourtax returns to get their money back. It would be best if you call and make some kind of arragements now.

Go To Your County Attorney And Get A Packet To Fill A Small Claims Against Person. It Will Cost About $ 16.00. If You Win Your Case, You Can Charge Interest On Money Loaned. And Your Filing Fees Good Luck

Yes. * No. Unless a cosigner is also named on the title to a vehicle or the deed to real property they have no legal rights or claim to said property.