Repossession

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.

Don, IF your name is on the title as co-owner, you would just be taking possession of your own car. If its NOT on the title, you cant take possession legally.Why not go to the person in possession and tell them to give up the car??

NOPE

� 31.0025. AUTHORITY OF COURT TO ORDER TURNOVER OF WAGES. (a) Notwithstanding any other law, a court may not, at any time before a judgment debtor is paid wages for personal services performed by the debtor, enter or enforce an order that requires the debtor or any other person to turn over the wages for the satisfaction of the judgment. (b) This section applies to wages in any form, including paycheck, cash, or property. (c) This section does not apply to the enforcement of a child support obligation or a judgment for past due child support.

Added by Acts 1991, 72nd Leg., ch. 671, � 1, eff. Aug. 26, 1991. NO, BUT read on... � 31.002. COLLECTION OF JUDGMENT THROUGH COURT PROCEEDING. (a) A judgment creditor is entitled to aid from a court of appropriate jurisdiction through injunction or other means in order to reach property to obtain satisfaction on the judgment if the judgment debtor owns property, including present or future rights to property, that: (1) cannot readily be attached or levied on by ordinary legal process; and (2) is not exempt from attachment, execution, or seizure for the satisfaction of liabilities. (b) The court may: (1) order the judgment debtor to turn over nonexempt property that is in the debtor's possession or is subject to the debtor's control, together with all documents or records related to the property, to a designated sheriff or constable for execution; (2) otherwise apply the property to the satisfaction of the judgment; or (3) appoint a receiver with the authority to take possession of the nonexempt property, sell it, and pay the proceeds to the judgment creditor to the extent required to satisfy the judgment. (c) The court may enforce the order by contempt proceedings or by other appropriate means in the event of refusal or disobedience. (d) The judgment creditor may move for the court's assistance under this section in the same proceeding in which the judgment is rendered or in an independent proceeding. (e) The judgment creditor is entitled to recover reasonable costs, including attorney's fees. (f) A court may not enter or enforce an order under this section that requires the turnover of the proceeds of, or the disbursement of, property exempt under any statute, including Section 42.0021, Property Code. This subsection does not apply to the enforcement of a child support obligation or a judgment for past due child support. (g) With respect to turnover of property held by a financial institution in the name of or on behalf of the judgment debtor as customer of the financial institution, the rights of a receiver appointed under Subsection (b)(3) do not attach until the financial institution receives service of a certified copy of the order of receivership in the manner specified by Section 59.008, Finance Code. http://www.capitol.state.tx.us/statutes/cp.toc.htm CHAPTER 31. JUDGMENTS SECTION 31.001. PASSAGE OF TITLE SECTION 31.002. COLLECTION OF JUDGMENT THROUGH COURT PROCEEDING SECTION 31.0025. AUTHORITY OF COURT TO ORDER TURNOVER OF WAGES SECTION 31.003. JUDGMENT AGAINST PARTNERSHIP SECTION 31.004. EFFECT OF ADJUDICATION IN LOWER TRIAL COURT SECTION 31.005. EFFECT OF ADJUDICATION IN SMALL CLAIMS OR JUSTICE OF THE PEACE COURT SECTION 31.006. REVIVAL OF JUDGMENT SECTION 31.007. PARTIES RESPONSIBLE FOR ACCOUNTING OF OWN COSTS SECTION 31.008. PAYMENT OF UNCLAIMED JUDGMENT SECTION 31.010. TURNOVER BY FINANCIAL INSTITUTION

YES its bad you dont get the lowest interest rates IF lenders will loan to you 7-10 years

BK only stops the repo process until the BK is discharged. BK does not mean you can keep the car without paying for it.

My opinion? Give the car back.

Most of the time you do, YES.

YES, you pay all the loan amount, sooner or later.

get an attorney to contact them with nasty letters

I contacted an attorney and was told that there is nothing we can do. The company is reporting this settlement as a charge off, which is apparently the worst thing to have on your credit report. This is really ruining our lifes. We were even denied car insurance because of it. Any ideas to how to go about dealing with this or what our rights are would be a great help.

YES, if they want to settle it. Make them a CASH offer.

Curt,these links should get you on your way. However, you will need some CLIENTS first. North Dakota

TITLE STATE: Yes SECURITY INTERESTS: Shown on title held by lien holder. LICENSE REGISTRATION: North Dakota Motor Vehicle Department, 608 East Boulevard Avenue, Bismarck, North Dakota 58505. Tel.:(701)328-2725 RECOVERY REQUIREMENT: As per UCC, repossession allowed without committing a breach of the peace. DOCUMENTS REQUIRED FOR LIQUIDATION: Title, Repossession Affidavit. PLATES: Remain with the vehicle.

http://discovernd.com/government/statelaws.html

http://www.state.nd.us/lr/cencode/t41.html UCC

http://discovernd.com/

http://discovernd.com/government/publicrecords.html

http://www.state.nd.us/pisb/faq.html PI questions

http://discovernd.com/business/newbusiness.html

Motor Vehicle Transporter North Dakota Department of Transportation 608 E Blvd - DOT Bldg Bismarck, ND 58505-0700 Motor Vehicle Division (701) 328-2725 None $65 January 1 Century Code 39-04-44.1

Frog Dealer North Dakota Game and Fish Department 100 N Bismarck Expwy Bismarck, ND 58501-5095 Licensing Division (701) 328-6335 None $50 to $200 Annually Century Code 20.1-03-12

Resident husband and wife FROG license $5.00

The consumer has the "right" to pay the debt he contracted.

Best way to do that is to negotiate the removal as part of the payoff with the lender. Otherwise, not likely because it is part of your credit history.