Repossession

Proof that you are you and MONEY to the lender. Plus any inventory fees for counting the mickey D's cups.

YES businessjournal.net txsheriffs.org Employer reimbursement for garnishment: Texas law now allows an employer to charge $10 per paycheck or the actual cost of processing of a garnishment of an employee's wages for such things as IRS liens, judgments, etc.

No, they cannot. Wages are exempt property in Texas under the property code and are not subject to garnishment.

Maria, there are some books on the market, mostly you spend money to learn something you can get FREE if you dig a little. Your best way to learn is work fo another agency for a year or so and let them pay for your mistakes. Mistakes in this business can be DEADLY and COSTLY or both. Good Luck First you will need CLIENTS, a TRUCK, and a place to store the repos. Call DCA�s Consumer Information Center toll-free at 800-952-5210. In the Sacramento area call (916) 445-1254. CHAPTER 11. REPOSSESSORS Article 1. General Provisions ............................... 7500-7500.3 Article 2. Administration ................................... 7501-7501.8 Article 3. Application of Chapter ........................... 7502-7502.6 Article 4. Licenses ........................................ 7503-7503.14 Article 5. Examination ...................................... 7504-7504.7 Article 6. Offices .......................................... 7505-7505.5 Article 7. Registration .................................... 7506-7506.14 Article 8. Conduct of Business ............................. 7507-7507.13 Article 9. Prohibited Acts and Citations .................... 7508-7508.6 Article 10. Disciplinary Proceedings ........................ 7510-7510.4 Article 11. Revenue .............................................. 7511

Yes, time heals all things. Money and repaying ON TIME helps tooo.

You should contact the bank ASAP. You will have to convince them that you WILL pay every month. That may not be easy after they had to repo the car. But TRY anyway. They have the option of collecting however they feel they wil get the most money. Its up to you to show them what that will be. Good Luck

This depends on whether the bank filed a lawsuit against you and was granted a judgment entitling them to legally garnish your wages. If that legal action was granted, they can and will take the amount granted by the judge from your wages regardless of your payment.

Lori, im NOT sure about an answer. If you will post your state or email me, I will try to give you state specific advice. Naybe someone else will answer for you who already knows.

YES, you can. It may be harder to get financed (bigger DP and/or higher interest rate) but you can. You WILL have to pay the balance due on the truck so seriously consider SELLING it. You may have to put money with the selling price to get the loan cleared but it will be MUCH cheaper that way.

Tricky subject there. FIRST, they must be behind in the payments, LOLOL Then you need the COMPLETE VIN, plate #'s will be very helpful, address where the car hangs out most will be very helpful. Then you need to find a repoperson to give the info to. If you care to email me, I can forward the info to a recovery co. in your city. They can handle it from there. reporoosta at hotmail dot com . If not, good luck

2010-09-21: who are you, a nosy neighbor? Are you trying to get back at somebody? If you feel a car SHOULD BE REPOSSESSED and you cause problems for the owner and the car SHOULD HAVE NEVER BEEN REPOSSESSED, he or she might just come back and press charges against YOU for false accusations, invasion of privacy, maybe even (if the state you're in allows it) assault and battery by defamation of character. First, define your place in this scenario, make sure you are legally covered, and go for it. But remember - sometimes it's like grabbing a dog by the ears and pulling. Ouch!

YES, usually you pay MORE down payment and/or higher interest rates.

NOT sure on this, but it seems that until they give up the right to repo by getting a judgment for the amount owed, they could still repo. Once they get the judgment, they would not have the car for security for the loan. Ill check on it and post again in a couple of days.

They may let it go due to lack of security, but remember: no payoff, no deed certificate.

Read your contract. It will tell you what default is. "Default" in leasing is when a Lessee fails to satisfy the conditions of the lease contract. Thus the lessee materially breaches the lease, and also usually when the lessee passes beyond the point of being able to remedy the breach as specified in the contract. Or, more simply, when the Lessee fails to live up to the lease contract and thus the lessor may take actions. "Repossession" is when a lessor acts to take back whatever property was leased. Terms for repossession are usually spelled out in the lease contract. Many lease contracts provide that when a breach occurs and the lessee is in default, the lessor may act to repossess the leased property. So the default may lead to repossession. But it is essential to study your contract and secure sound legal advice from a competent attorney in your jurisdiction to answer, "Can they take X away if I don't make my payments?"

A judgment occurs when a creditor takes you to court, sues you, and wins his case against you. The creditor must do this before the statute of limitations has expired for the original debt. Typically, the court will try and contact you via mail, but they do not need proof that you were contacted, and you do not have to be present for your creditor to win. The creditor only has to provide proof that the debt is owed. You want to avoid this at all costs; for it is after a judgment is issued that a creditor can seize bank accounts, assets, or garnish wages. In addition, it is easy to renew a judgment once its statute of limitations has passed. In effect, if the creditor is diligent about his renewals, you could find yourself in the position where a judgment against you never expires. A judgment will drop off your credit report after seven years, but your creditor can hound you until the debt is paid.

Gpysy, they have about a year to come get it. LOL Most wait until you are 90 days late to give you a chance to come up with MONEY and keep the car.

Its NOT a matter of HOW late, just that you ARE late. Read your contract. That should explain when you are in DEFAULT.

What would you like to do?? Does your state require a lic. and bond?? IF NOT, so what? If so, call an attorney ASAP.

IF the lender accepts it you can.

Not to my knowledge. The lender cant say its stolen because they LET you take it from their possession. You havent said its stolen OR you would have a police report to show it was. So, it's NOT stolen, you are hiding it to hinder repossession. Hope that's not a felony in your state.

My contracts state that if the borrower takes the vehicle out of state when in default that I could report the vehicle stolen. I never have tried, but I did pay an attorney to draft them up for me years ago.

In wild and lawless Nevada...

the original creditors claim should drop off and the CA claim stay. Double?? Likely, the unterest and fees are building up. Try to settle this somehow. They WILL deal.

On ANY repo, you pay the balance due AFTER the car is sold. Payoff = 5K, car sells for 2k, fees = 1K, you owe 4K.

Chris, I dont know the answer to the question YET. I will find out today. Email me latyer on and Ill have it for you. What does the lender "say" they will do???

Check your contract for anything special, but I see no reason why they cant.IF you are in DEFAULT, YES, they can repo.

no you were more late then your saying I bet.

Legally, a lender may contract your vehicle for repo at midnight the day youre payment is due. Most wont, but legally they can reposess your vehicle the day after your missed payment

In most states, you will owe whats left owing after the ins. co. pays.

The co-buyer should contact the LENDER and ask to have the buyer removed from the loan. Nothing can be done legally without the LENDERS approval.

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GOOD question. Read the contract. Were you in default of it?? Why didnt you TAKE the car back? Why did they have to come get it?