Repossession

"YOU" dont, the debtor does. call the lender.

You pay lump sum,total. OR they garnisgee your wages. Take your pick. There are NO payments after sale. There is no such thing as voluntary repo...a repo is a repo.... it screws you if you give the car back or not.They can sue you to try and get the balance or you can work out a payment plan be very careful dealing with lenders read everything get it writing do not trust them over the phone.

contact your local townhall or government who will give you detailed information on how you obtain this license. You might want a Gun license too. People whose cars are being repossessed sometimes get violent.

I'm not going to answer this with any sort of moral reasoning... just from experience and what I have heard from other cases. As I understand, once you leave the scene of the accident, you're not only at fault but you're going to get charged with fleeing the scene. Based on this, it seems like in your case the damage is done. Legaly you're screwed if they report it, but chances are probably that they won't. Still, a judge or insurance company might go easy on you if you fess up. My friends have had similar situations where reporting it after the fact helped at least the sentencing. In the end, in terms of what's worse you have to think of who might have seen you that would call you in or the possibility of turning yourself in when you would have gotten away with it. I'm the conservative type at least with my legal record... but I guess play the odds. If you have the plate number, you might be best served finding the owner and trying to call them if you're turning yourself in. And don't underestimate the power of your conscience, you might be feeling guilty about this 10 years down the road and maybe it's just not worth it, but without a plate number there's little you can do.

yes, in a total loss situation you will receive actual cash value less any deductible and the insurance co takes the car.If you wish to buy the vehicle than you should ask the insurance co what is the salvage value.If you like the value than you can buy the car and the insurance co will deduct that amount from the agreed total.you will have to change the title from regular to salvage.You than get the car fixed and get the mvd to inspect the car and get the title changed to salvage/restored.Now you can use the car just like any other car.

In a few states, you will get a "XX day right to cure" notice. But when it comes time to repo the car, NO. If you know you are in default, the lender has been begging you to pay something,ect., GET YOUR PP OUT. The lender and the repo company doesnt want your PP. They dont want to deal with it anyway. Then when its repo time, you can go on about life without the interruption of redeeming your PP and additional cost. It just doesnt have to be that way. NO you will not be notified

Let me get this straight. You filed B/K over 5 yrs. ago and the car was/is repoed recently? If this is correct, the car will be sold and the lender will want you to pay the balance still owed.

Per the Uniform Commercial Code, repossession is allowed without committing a breach of the peace. For specific legal regulations, see the related link below.

Most folks do so. Ask your B/K attorney for state/case specific advice. Yes

You can do what you want in that regards. You will still be liable for the payments and the bill will still come in your name. Check with a third party loan company. They may have high interest risk policys they can offer.

I was driving my truck and towing a U-haul are transporter with my minivan on the transporter. I was involved in an accident. I have total coverage on the truck but only collision on the van. My insurance covered my truck and the damage to the uhaul but not to my van. Hope this helps some

Well, when you get an high priced or classic vehicle insured, the insurance company will usually ask for an appraisal or inspection anyways...Which at the time of loss there adjusters will still come up with a value they think the vehicle is worth.

Certainly and is very adviseable if there is a significant difference. Many adjusters will offer a "low-ball" figure and refuse to take into consideration the condition of the vehicle before the wreck.

They know that your only option is to file suit and that will cost you attorney fees. Look in the newspaper and local auto trader magazines for an equal vehicle. then forward the appraisal and similar ads to the adjuster.

If he still fails to make a reasonable offer contact your local state insurance office or attorney general to see if you may have a "bad faith" claim.

Usually over half the price of what ever the car is in blue book.

That is the responsible thing to do. You did what was right.

Probably because the owner did not exercise normal precautions and by leaving the keys in the vehicle actually participated in its theft. Call that lawyer who advertises on TV. If he can't get the insurance to pay, he'll get a judgment against the owner.

The owner of a stolen vehicle is not responsible for the actions of the thief that stole their vehicle. If there is no liability on the owner, the insurance company does not owe the claim for property damage to others.

yes.......usually only thing private property has to do with claims investigations is make it more difficult, as no police report will generally be written......if your son is negligent and liable for the loss, he is....private property or no........on your property or not.......if he is negligent, he is negligent and will be liable (you as the gaurdian) for the loss........more info is needed for me to help.......facts of loss...your vehicle or another? who owns vehicle? permission or not to drive? etc....

Yes. The taxi driver should have parked in such a way as to not impede the exit of the passenger. Taxi companies carry lots of insurance for obvious reasons. Which is also why the fares are usually costly. It could go both ways, if you didnt think you had enough room on one side, why not try the other side? It depends upon the damage and where the taxi cab driver parked. The law "should" seem fair and reasonable under the view of the average person. For example, if the driver parks so close you don't enough room to exit comfortably then he would probably be at fault, but if there's no one next to you then someone pulls up and you still open the door without noticing the car next to you then you would be negligent. It depends on the circumstances. Basically you need to ask yourself who the idiot was, the driver or the passanger.

Was it the a hit and run? Is that what you are asking? You do not know who hit your vehicle and your policy was expired? If there is still time to pay before it actually 'lapses' do so. Otherwise, if you had no insurance policy/coverage on the date of loss you will need to find the person that damaged your vehicle or pay for the damage out of pocket...sorry....

Yes, they can and, yes, it does happen. Primarily, this happens in situations where the person is behind in their payments. The lienholder will apply the check to the back payments.

Did you turn this into your ins company? If not do so immediately, they will investigate it. There are many ways to prove or disprove this, and if all evidence is a 'draw' their insured should get the benefit of doubt and in this case deny claim.

You may bare some ramifications (rate increases etc), but if I am understanding this correctly you do not own the vehicle at all. The owner will be liable however the policy that you are listed/co own will be responsible for payment and could effect your rates, in the future as well.

I would advise letting them purchase their own car and insurance. If something tragic happens the attorneys can and will come after you.

It is not that unusual in a tragic accident for the damages to exceed the insurance and then you are personally liable. If you do decide to go this way consider purchasing an umbrella insurance policy.

lwpat

In Texas, when your car is impounded, it is best to go immediately and retrieve your car. The towing charge and daily storage mounts up. The longer you let your car stay in impound the more you are charged. If you have a mortgage on the car, the company that has the mortgage is notified and they pay the charges and retrieve the car. You will have to pay them back plus their charges. After 30 days the car is auctioned .

Yes. HOWEVER --

I can only tell you about Michigan, because that's where I live. If you leave a vehicle in impound, the local law enforcement department continues to compound the amount you owe them, up to a limit of 20 (or 30?) days. After that, the vehicle is either sold at auction -- if it's worth anything -- or turned over to the towing company to resell if it's not worth much. The bigger issue, though is abandoned vehicles. If you leave your vehicle by the side of the road, you are liable for any charges the police incur for having the vehicle delivered to impound. What often happens with these cars is that, because they're worth very little and can't be sold for any value, the towing company and police department turn over to a collection agency the amount owed for towing and storage. If you don't pay up, this goes on your CREDIT RECORD!!! In the long run, you're better off to get the vehicle back and then junk it out--

Good luck --

This response is for the girl who is "confused and broke"

If you sold your BMW to someone, and they have paid in full, then you do not legally have any right to the car.

Because you were the person who received the notice of impound, I'm assuming that the person who purchased the car from you did not transfer title nor register the car with in their name. Because you received the notice does not mean you are still the owner. This means you need to file a release of liability with the DMV, ASAP.

BY LAW, you need to file a release of liability with the DMV when you sell or transfer title. This is also for your protection, because if the car was used in the commission of a crime or involved in an accident, or issued parking tickets, you may be held accountable.

You may be broke, but that does not mean you are entitled to a car which someone else has bought and fully paid you for.

If you take the car, you might end up with your friend behind bars, for fraud or even auto theft.

Well, in my exerience especially following an arrest this is what we would want you to do so yes you can. After so many days we'll usually send an edited title to the impound yard then it's theirs.

Keep in mind though, the cost is still at your expense and if it is not paid we report it to all credit bureaus in all 50 states.

In Ontario Canada your car is impounded and you can leave it there if you like BUT The Mechanics Lien and Storage Act says the owner is responsible for the tow and daily storage fees. They must be paid before release. If you leave it there to long the impound yard send a letter to come get it and after 30 days of that letter going out they can sell it and keep only the cash that covers the bill. The rest of the money goes to you. BUT I have never seen a vehicle sold for 1 penny more that the storage costs. ADVICE...get it out as soon as possible.

If you leave it there for to long they automaticaly take ownership of your car and it will be auctioned.

in ma if we receive a car and nobody has come out or called within 20 days we send 3 certified letters to the owner one every ten days then after third the vehicle is legally ours we do not charge the customer anything else and all debts are considered nullified

Call DCA's Consumer Information Center toll-free at 1-800-952-5210. In the Sacramento area call (916) 445-1254. ag.ca.gov they can tell you what the requirements are for towing impounds. If you want to know what happened to the car, just call the police department that had it picked up and I'm pretty sure they'll let you know, but only if you're the legal owner.