Repossession

Talk to a loan officer at the lending institution and let them know what you're trying to do and make arrangments to pay the balance after the car is sold. If they know that you have plans to take care of the rest of the debt, they'll probably be willing to work with you. Unfortunately, if it's a lending institution that is associated with the auto industry, they may refuse, requiring that you buy a NEW car or pay off the old one. If all else fails, pay down the vehicle to what it's worth, sell it for the payoff amount, then the bank can't argue with you.

You have the right to reclaim personal property during the normal business hours of the establishment where the vehicle is impounded. The company storing the vehicle must take inventory of and proper protection of such property under the "in bailment" laws of the state where the vehicle was seized.

at any time.. day or night. Humans are creatures of habit, eventually, they will see your daily pattern of what you do.

When you finance or lease a vehicle, your creditor holds important rights on the vehicle until you've made the last loan payment or fully paid off your lease obligation. These rights are established by the signed contract and by state law. If your payments are late or you default on your contract in any way, your creditor may have the right to repossess your car. Talking with Your Creditor

It is easier to try to prevent a vehicle repossession from taking place than to dispute it afterward. Contact your creditor when you realize you'll be late with a payment. Many creditors will work with you if they believe you'll be able to pay soon, even if slightly late. Sometimes you may be able to negotiate a delay in your payment or a revised schedule of payments. If you reach an agreement to modify your original contract, get it in writing to avoid questions later. Still, your creditor may refuse to accept late payments or make other changes in your contract and may demand that you return the car. By voluntarily agreeing to a repossession, you may reduce your creditor's expenses, which you would be responsible for paying. Remember that even if you return the car voluntarily, you're responsible for paying any deficiency on your credit or lease contract, and your creditor still may report the late payments and/or repossession on your credit report. Seizing the Car

In many states, your creditor has legal authority to seize your vehicle as soon as you default on your loan or lease. Because state laws differ, read your contract to find out what constitutes a "default." In most states, failing to make a payment on time or to meet your other contractual responsibilities are considered defaults. In some states, creditors are allowed on your property to seize your car without letting you know in advance. But creditors aren't usually allowed to "breach the peace" in connection with repossession. In some states, removing your car from a closed garage without your permission may constitute a breach of the peace. Creditors who breach the peace in seizing your car may have to pay you if they harm you or your property. A creditor usually can't keep or sell any personal property found inside. State laws also may require your creditor to use reasonable care to prevent others from removing your property from the repossessed car. If you find that your creditor can't account for articles left in your car, talk to an attorney about whether your state offers a right to compensation. Selling the Car

Once your creditor has repossessed your car, they may decide to sell it in either a public or private sale. In some states, your creditor must let you know what will happen to the car. For example, if a creditor chooses to sell the car at public auction, state law may require that the creditor tells you the date of the sale so that you can attend and participate in the bidding. If the vehicle is to be sold privately, you may have a right to know the date it will be sold. In either of these circumstances, you may be entitled to buy back the vehicle by paying the full amount you owe, plus any expenses connected with its repossession (such as storage and preparation for sale). In some states, the law allows you to reinstate your contract by paying the amount you owe, as well as repossession and related expenses (such as attorney fees). If you reclaim your car, you must make your payments on time and meet the terms of your reinstated or renegotiated contract to avoid another repossession. The creditor must sell a repossessed car in a "commercially reasonable manner" - according to standard custom in a particular business or an established market. The sale price might not be the highest possible price - or even what you may consider a good price. But a sale price far below fair market value may indicate that the sale was not commercially reasonable. Paying the Deficiency

A deficiency is any amount you still owe on your contract after your creditor sells the vehicle and applies the amount received to your unpaid obligation. For example, if you owe $2,500 on the car and your creditor sells the car for $1,500, the deficiency is $1,000 plus any other fees you owe under the contract, such as those related to the repossession and early termination of your lease or early payoff of your financing. In most states, a creditor who has followed the proper procedures for repossession and sale is allowed to sue you for a deficiency judgment to collect the remaining amount owed on your credit or lease contract. Depending on your state's law and other factors, if you are sued for a deficiency judgment, you should be notified of the date of the court hearing. This may be your only opportunity to present any legal defense. If your creditor breached the peace when seizing the vehicle or failed to sell the car in a commercially reasonable manner, you may have a legal defense against a deficiency judgment. An attorney will be able to tell you whether you have grounds to contest a deficiency judgment.

it's all the same whether you turned it in or they picked it up

If you're supposed to surrendeer the vehicle and don't you can be reported for grand theft auto, which is a felony crime.

yes you may take the car back considering she defaulted on a aggrement between the 2 of you and the bank you are liable for any unpaid debts on the car therefor the car is yours as well....

It depends on where you live. In many states, property of a man and wife are considered shared. In other states, not so. It will depend on your local laws.

If the lender sold your car for more than the amount owed but fees are still due, such as the repo fees, storage charges, state taxes for selling etc.--it could be that you may still owe. I would ask for a letter that itemized all their costs and see how they come up with the figure you still owe. They HAVE to keep you informed. If you can, have an attorney look at it and tell you if what they have done is correct. Now--if you still owe- take care of it, borrow from a bank, a relative, if possible--depending on the balance owed--they can place a judgement and/or garnishee your wages.

Yes, if you gave the car up, and there is a deficit balance after the car was auctioned/sold. That balance is still due and payable. A registered letter should have been sent out. The creditor should be able to provide proof that it was "signed for" or was returned "not delivered". I would try to make arrangements or "settle on amount" agreeable with you both before they garnish your wages--if you don't have the money to do so, borrow it from a relative before things get worse---because--- Depending on which state you live in, the garnished amount could take a very painful bite out of your paycheck.

You would be better off buying a lower priced used car and getting your financial house in order. If you still believe you want the car back (in most cases the payments are higher than is affordable), check with the dealer and ask. The information may be in your legal packet that was given to you.

Yes, if you are not making the payments the bank can repo your truck.

Garnishments cannot run concurrently only consecutively. The first garnishment would need to be paid before another judgment creditor would be able to garnish the debtor's income. Court ordered child support deductions are not considered true garnishments and can be active at the same time that a creditor garnishment is implemented. Also, multiple creditors can execute judgments by other means, such as liens against real property belonging to the judgment debtor.

Yes. The terms of the loan were defined when you signed the paper. Most loans state that they can repo the vehicle if the loan is in default and they can declare the loan to be in default at any time after you have failed to meet one or more conditions of the loan. When you didn't pay on time, you were in default. Once you were in default they can repo the vehicle and sell it to dispose of the loan.

call local salvaging companies. many will take cars for free. also look into donating the car for local charity groups.

Another answer:

The local junk yard paid me $ 25.00 for my piece of junk and came and picked it ip.

Paying off the judgment is a good option. It can prevent liens on your property and garnishments on your wages, which also tend to get your employer upset. If the debtor wants to protect his or her funds that are deposited in a checking or savings account from being levied by a judgment creditor, then the only option is to close the account before the banking institution is served with the levy order. Be advised, that action may or may not suffice, as the court could have the power to order all funds to be returned and frozen until it is decided if the conveyance was legal. The debtor cannot take any action in regards to an account that has already been levied. If the account was joint and only one account holder was named on the judgment, the innocent party will have to prove to the court the percentage of funds in the account that is rightfully theirs before the court will release any monies. While I certainly support answer 1 - because paying your debts is simply the right thing to do, it makes sense financially speaking too...as you'll probably not avoid doing so perpetually and interest and fee's will continue to accrue at a likely higher rate than you'll get an an alternative investment. but, if you insist, I believe most qualified retirement accounts, like IRAs and such, are exempt from seizure.

Yes, the company is supposed to credit your debt with the amount they can recover by reselling the vehicle, less the cost of that sale, but you will likely not see a benefit from that. Negotiate with the lender, or try to make a sale on your own, choose which is better for you. Just remember, you signed a contract to pay a certain amount and, barring are-negotiated contract from the lender, you owe that amount.

There are several classifications of judgments, but they are all executed by the same basic method. A judgment creditor may execute the writ according to the laws of the judgment debtor's state. Some ways of enforcing a judgment are; income garnishment or levy against bank accounts or seizure and sale of non exempt property or liens against real property. The judgment debtor is allowed specific exemptions for real and personal property, exemptions will differ from state-to-state. A consumer who believes they may be sued for a debt should familiarize themselves with their rights under state and federal law as to what property can be protected from a judgment creditor.

He can't do anything as long as you are making the payments on time and if you are it is probably helping his credit unless it shows he has excessive obligations. He can't repo it anyway, only the finance company can do that. See if you can get the note in your name, maybe a new one and his name off the title. This is obviously a personal conflict, so try to get rid of it. Your note, your title, your car.

The lender does not need to render a "Right To Cure" notice to the borrower when the contract is defaulted. Recovery of the vehicle may take place without judicial process only if it can be accomplished without a breach of peace. In other situations the lender should refer to, Georgia Code, 11-9-503.

yes they can I have a garnishnent on my check right now

In most cases the cost of repair for a damaged car has to be greater than 25% of the value of the car.

If you have driven it/owned it for any length of time, no dealership will just 'take it back'. You can always sell it (dealership or private party) and perhaps recoup a bulk of your money. Visit kbb.com for the value of your car so you know what you can expect to sell it for. Good luck! * No. Regardless of the reason or the length of time the borrower has had the vehicle, a voluntary relinquishment of a vehicle is still considered a repossession. That being the case, the borrower would be subject to all legal action and penalties pertaining to a repossesion that are allowed under the laws of the state where the borrower resides, or in some cases the state where the vehicle was purchased.