Repossession

No. Only the lender can "repossess" a vehicle. You need to keep making the payments to protect your own credit. It is likely you would need to bring a court action, prove you are making the payments and petition the court to order a transfer of title.

check the SOL in your state. Usually 7-10 yrs. but the judgments get renewed so it goes on and on like an Energizer bunny...

Nan, why not ask your B/K attorney?? S/he is more familiar with your case than anyone else. The fact that you "thought" you reaffirmed indicates a possibility that you didnt.

nan, it depends on what you and the LENDER agree on. You agreed to pay them so much a month before and didnt manage to do it, sooo they will be tougher the next time around.

I got a different loan to pay off the first loan, the interest was a little higher, but I figured I would still owe the first lender the difference of what the car was sold at at action. (Car was worth 16k, they would prob auction for 10-12k.) I would be held liable for the differnce. I would still be out a few thousand dollars, but at least this way I would have a car.

READ your contract. When you are in DEFAULT, they can repo. Legally only one day, but most lenders will work with you if possible.

to whom it may concern, I co-signed for someone and they coundn't make the payments. I got laid off and i couldn't make the payments. I am now currently working and i don't want to lose the car i could pay the three months car payment. could the car dealer wait for two more weeks until i get paid. the car is helping me to get to work. Can they understand the situation?

The best way to find out is to READ THE POLICY. What does it cover?? Was it GAP insurance or regular auto ins.? Ask your ins. agent to explain the coverages.

Hector, Ive never heard of a bank that specializes in that type of loan. That doesnt mean they are not out there. Usually you go whereever you have good enough credit to get the money. If your credit is good enough, the bank that repoed it will loan you money on it.

It can show at any time. A repossession is compleated as soon as the car is picked up so it does not matter what happens after the repossession it still did happen.

Paying the car off was good but having to repo it to get it paid off was BAD or negative. the lender did report that it was PIF,HUH?? So they reported the good and the bad.

This would be best answered by a good bankruptcy attorney who knows Arizona law.

I believe no matter what you do bankruptcy or not, they will get the car, it does not wipe your credit clean.

The LENDER.

Lenders tend to have deals with auction companies. ALL repo'd cars go to auction, most of which are dealer only. You should be able to ask your bank where it went, then call that auction to see if it public or dealer only.

With each presented law (legislation) there is "intent". The "intent" of the FDCPA was to ""to prevent the 'suffering and anguish' which occur when a debt collector attempts to collect money which the debtor, through no fault of his own, does not have.""harassing attempts to collect money which the debtor does not have due to misfortune," is not implicated in the situation of a repossession agency that enforces a "present right" to a security interest because in the latter context, "an enforcer of a security interest with a 'present right' to a piece of secured property attempts to retrieve something which another person possesses but which the holder of the security interest still owns.""Unlike the debtor who lacks the money sought, the possessor of secured property still has control of the property. Any failure to return the property to the rightful owner occurs not through misfortune but through a deliberate decision by the present possessor to avoid returning the property.""The legislative history confirms that Congress intended an enforcer of a security interest, such as a repossession agency, to fall outside the ambit of the FDCPA"

ONLY if you let them do it. Call a local attorney now.

Its NOT a matter of first or second, its who has the most assets that can pay. If the buyer doesnt pay, they will be on the cosignors steps the next morning. Vol or Invol, they want their money.

NO. Have him arrested if he did that.

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Sue the lender/bank do not waste your time with the Repo guys; they are agents of the bank so the bank is responsible for their conduct.

It has the same effect on the credit.

the answer is yes they can,the question is why is your name still on the title after the divorce are you keeping the property together as a rental?you can go to your local county recorders office and see what liens you have on the property,the only ones that are always there is the mortgage company senior lienholder,and property taxes,they cannot foreclose on your home the car company would just get that money when you sell your house,laws vary state to state and it depends on what you officially were during marriage community property,etc.there are so many variables here to your question,if they have not put a lien on it yet,there are ways to keep your interest in the house but were they can't touch your assetts,you really could benefit talking with a real estate attorney,about your financial shape and how to protect your interests,we live in a reactive society,be proactive and protects your interests in advance,this is why the companies have all the advantages they think of the what if's.good luck (real estate agent)

You would have to make the arrangements with the LENDER so the buyer could get the TITLE. Likely you would need the balance to pay off the loan before the lender would release the title.

Arizona TITLE STATE: Yes SECURITY INTERESTS: Shown on title, title mailed to debtor, lien-holder record mailed to lien-holder. LICENSE REGISTRATION: The Arizona Department of Transportation, Motor Vehicle Division, 1801 W. Jefferson, Phoenix, Arizona 85007. Tel:(602)255-7011. RECOVERY REQUIREMENT: As per UCC, repossession allowed without committing a breach of the peace. DOCUMENTS REQUIRED FOR LIQUIDATION: Arizona Lien-holder record or out-of-state title, AZ MVD "Affidavit of Repossession/Bill of Sale" form and vehicle inspection if vehicle not previously registered in Arizona. PLATES: As of 01/01/02 - plates now belong to the registered owner of the vehicle. They remain with the debtor. ArizonaRevisedStatutes go to the link and check it out

You are asking three questions in one, let me give you the answers to the best of my knowledge. 1. Can the lender "legally" repo the car with only a $390 balance? Answer: Yes they can. 2. Will the lender actually repo the car? Answer: Only as a last resort. They will try and work with you to get the last of the money owed on the vehicle. Lenders want the money owed to them not the vehicle. A typical repo will cost the lender (and eventually you) anywhere from $100 and up depending on skip tracing, wrecker fees, storage fees, locksmithing charges, inventory fee etc. So even though they are legally able to repo the car they won't unless you force them to. 3. Will they "charge off" the remaining $390. Answer: Definately NOT. Lenders are in the business to make money not give it away. It does not matter that the original loan amount was 20k the reality is that you still owe $390 and need to pay it or they will eventually repo the car and you will still owe them $390 PLUS the cost of the repo and sale of the car should it not bring more than the amount owed. I personaly have repo'd a few cars financed through Chase with a balance of $500.00 and less. Charge off are only done when there is no value left on the vehicle, i.e. totaled in a wreck. IF YOU HAVE ALREADY PAID 19K+, WHY NOT GO AHEAD AND PAY THE BALANCE. IF YOU DONT, THEN CHASE WILL NOT SEND YOU THE TITLE. 0R, THEY WILL REPO & YOU WILL HAVE ADDITIONAL COST. PLUS, YOUR VALUABLE CREDIT RATING IS AT RISK.

Jazzy, they are the same as for other repos. Dont breach the peace and dont get caught.

The bank can legally repossess a car at any time you default on the loan regardless of the vehicles value or the amount past due. If your car payment is due on April 1st and you don't pay than you are legally in default on your contract. If you make a partial payment (less than the amount you agreed to pay in your contract every month) and the bank didnt agree to this arrangement then you are still in default. The best bet would be to pay the $128 before the car is repossessed or to pay the back balance owed if it has already been repossessed.

Check with the dealer where you bought it. Some local dealers in my area will take it back before 30days.

If the car is gone, the car is gone. The car would only be covered in BK if you still had it.

If you file Chapter 13 bankruptcy within 10 days of your car being repossessed, or in some states before it has been sold or auctioned, your creditor must return the vehicle to you.