Repossession

That depends on the state law, but generally, no.

All US states require the repossession agency be licensed and bonded.

There is not a time limit on the collection of a debt. There are statute of limitations set by the state in which the debtor resides or in some cases where the debt was incurred that limits the time for which a lawsuit can be filed by the creditor/collector. It would seem that after the stated 13 years a lawsuit would not be possible with the exception of the debtor having changed the state of residency after the debt was defaulted.

Sell it on your own. You may not be able to sell it for the amount owed, but work out a deal with the bank to finish paying for the vehicle at a reduced rate after it's sold. Most lending institutions would much rather work out something than have it go into bankruptcy. That, plus it's a lot better for YOUR credit history if you take matters into your own hands and deal with it now.

You have not provided enough information to answer you question so I am going to assume some things. I am assuming you had an accident and the insurance company told you the car was close to being totalled. go to www.kellybluebook.com and input your cars information under private party sale then under whole-sale now you know what your car is worth on the open market in your area. let us say the number is $1000. Now, bring your car to an autobody shop and have them give you an estimate of damage, remembering that this amount is without taking things off your car. once you taake things off your car it will be more. lets say that amount is $1000. The insurance company will want to let their estimator evaluate it. you do not care what this person says unless it is a number close to what you want or better. which it will not be estamators job is to get the lowest number possible for the insurance company no matter what they tell you. lets say then persons amount is $800 now your fight is on... call insurance company...just listen to what they have to say and call them back. did you like the deal? if so then say it is not enough and let them counter offer if no counter then take it. if you do not like the deal, what will you settle for. call them back and ask for more and negotiate down to what you want or close to it. if you do not like anything they are saying then say no and fix my car or pay me the retail value for my car. which is required by law in most states. good luck, gig1 Unless you have special insurance, the insurance company is only liable for the value of the car, no more. Not the value of fixing the car, just the value of the car. That makes sense really when you consider it is the most you had could lose right before the accident. You may have reason to dispute what they feel the value is, but not that they should pay more than that value in order to fix it.

In the state of Ohio, your car may be repossessed if you miss one payment. Your car may be taken any time of the day or night by the repossession company. The repossession company is not allowed to keep any items that you may have left in the car. The company must inform you as to what they are going to do with the car, including selling it, putting it in a car auction, or keeping it.

If you have a bank checking account, just go to the credit card website (most major credit cards have their online site where you can do payments online) and see if they have that option. Some places will charge you for that, others will do it for free, or you can only do it by phone. The best way to find that out is by calling the credit card company and asking them if they have online services for payments. Nantenchild

No. Unless the cosigner is also a title holder they have no legal rights to the vehicle.

Yes. A charge off does not mean that the debt is not still valid and subject to collection by any means available to the lender.

It means that you physically drive the car back to the lender possibly after calling and making that arrangement. Sometimes not. But you turn over your keys and leave the vehicle there. If the lender knows you are coming, some paperwork depending on the state should be ready for you to sign.

If the lender has placed a judgment against you for the deficit balance (balance left after the car is auctioned/sold), then yes in most states, they can take the tax return and apply it to the balance owing.

Yes, they can sure you for any monies still owed on the vehicle. No, nobody can charge anything to your credit card without your permission. But beware, there may well be some clause worked into the mice-type on the agreement that you never even noticed was there. Go over any paperwork you have; if you don't see anything about implied permission given for them to charge your account, dispute the charge with your credit company and file a formal complaint.

Yes, many loan agreements have a clauses that allows them to call the note due and/or repo the vehicle if there are any singnificant changes to your credit status. Bankruptcy certainly qualifies.

Depends on the lender, the agreement you signed, and the state you live in.

Yes, if the contract requires that the borrower carry insurance coverage. If the borrower fails to adhere to any of the requirements stated in the written agreement the contract is in default and the lender has the legal right to recover the vehicle.

Each state has a statutes of limitations on loans. Check the following site for your state. http://www.creditinfocenter.com/rebuild/statuteLimitations.shtml Please know that the clock starts ticking on the date of the last activity on the account-- which should be the date the car was sold or auctioned off. If your state limitations are up--the creditor can start them up again simply by showing the date they received the collection. Fortunately or unfortunately, old accounts that were not collected seem to be great money makers for collectors these days. These accounts can be sold for as little as a penney per $100--any money that is collected is profit to them. If the account bounces from one agency to another, the date keeps changing so the accounts stays active. My advise--if the limitation on you loan is up --report the agency to the Federal Trade Commission. "The FTC works for the consumer to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or to get free information on consumer issues, visit www.ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261."

You drive the car to the nearest office of that creditor and get an employee to give you a receipt or letter stating that you have surrendered the car to them on whatever date it is. IF THAT IS WHAT YOU WANT TO DO.... Please remember that this doesn't mean that your obligation to the car and loan is now done--because it is not. If the car is sold for less than what you owe and you can bet that it will--you can be sued for the deficit balance. If the balance is large enough you can be guarnisheed-- and that is not pretty.

Check your loan contract, but in most cases (99.99%) if the payment does not represent the total past due amount, or if you do not have arrangements with the lender setting asside repossession actions in lieu of payment arrangements, no; one payment toward a past due balance will not stop or delay repossession of the vehicle.

There are a number of VIN #'s (vehicle identification numbers) on a given vehicle that will identify it. It is my understanding that tampering with these is illegal. As well, your VIN will be checked by any licensing agency as well as when the vehicle is eventually sold or pulled over for any reason. You would be wise not to tamper with these and try to maybe renegotiate your debt if possible.

If you weren't making your payments yes. It would only be repossessed if you weren't making your payments.

I think that you need to pay what you owe. You should call them and see what their policy is. I wish you luck:)

When a consumer defaults on a car loan their credit becomes negatively affected. Not only that, the previously purchased vehicle will become subject to repossession if the payment is not received.

You will be reported to ALL 3 credit agencies, and reported to chexsystems. You will most likely be unable to open any new loans or bank accounts.. including savings accounts, debit cards, credit cards, etc.

Must have been perhaps an annuity settlement? Or was there a judgement? Call the insurance company's main office, and start there, do you have any information at all? Such as the claim number etc? If you have trouble finding the company let me know specifics and maybe I can help you find out the contact. ---------------------------------------------

Check the website MissingMoney.com. It's not a fake - it's a real website where you can find out if you are owed money. It's free so definitely check it out. I just found my mom was owed a small amount of money, and another family member was owed nearly $2000 so it's worth checking out!

Yes, you can return a used car to the finance company in Canada. However, you also can consider returning it to the dealer you bought it from as well.