Repossession

Unless the repoman is dumb as a duck, he WONT try to repo a car that is not authorized by the leinholder. IF management lets him in the garage, then he can go get it.Sometimes management will go ahead and let us in to get us out of the way.

If the managment opens the doors yes the repo people can remove the vehichle The repo person can not open the door. the repo person has been told to recover the vehichle per the lien holder or they would not be there. I find that most lien holders would rather work something out to get account up to date then repo the car. The lien holder makes more money if they can get payment before repo.What I do not understand is why people hide the car , what good is the car if you can't drive it without looking over your shoulder wondering when they repo agent will show up and take the car so what good is a car you cant take out of the garage or drive?

NOT that I know of. Report it to the LENDER ASAP. Sounds shady.

First question is, was there a repo? Was the car NOT worth repoing? The lender doesnt have to retrieve the car on any certain day. You still have the option of paying off the loan.

What does your GAP policy say? Do YOU have it or the LENDER? Normally, lenders place it on a loan to cover the lenders losses, not yours.

If you hav GAP insurunce On you Insurance will pay of whatever the car deler does not

It is true but not likely. The normal is to file a writ of REPLEVIN. The court has the sheriff come to get the car or YOU if you cant/wont produce the car. Just give it up and avoid all the extra charges ect.

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== == http://www.NationalScoreIndex.com. Overall, the study found that: * The average Experian PLUS(SM) Score for consumers with no late auto payments is 689 versus 596 for consumers with at least one late auto payment. When a payment is late by 90 or more days, the average score dropped to 574. * 1.5 percent of consumers who have an auto have a repossession noted on their credit file. The average credit score for those with a repossession dropped even further to 566. The states with the highest repossession rate are Arizona, New Mexico, Texas, South Carolina and Nevada.

http://www.NationalScoreIndex.com. Overall, the study found that: * The average Experian PLUS(SM) Score for consumers with no late auto payments is 689 versus 596 for consumers with at least one late auto payment. When a payment is late by 90 or more days, the average score dropped to 574. * 1.5 percent of consumers who have an auto have a repossession noted on their credit file. The average credit score for those with a repossession dropped even further to 566. The states with the highest repossession rate are Arizona, New Mexico, Texas, South Carolina and Nevada.

IF you got the "surplus" refund, it should have been payed off. You must have had a lot of equity(down payment) in the car to get a refund.

Same thing that happens to the buyer. Lender persues their legal options to collect the balance due.

YES, on a CR, a repo is a repo.

To get it back, you pay the amount you are behind or the payoff on the loan, whichever the LENDER wants. AND storage fees.

NO...but you can CALL the lender and ask to pay it off.. Virginia TITLE STATE: Yes SECURITY INTERESTS: Shown on title held by lien holder. LICENSE REGISTRATION: Virginia Department of Motor Vehicles, P.O. Box 27412, Richmond, Virginia 23269-0001. Tel.:(804)367-0063. RECOVERY REQUIREMENT: As per UCC, repossession allowed without committing a breach of the peace. DOCUMENTS REQUIRED FOR LIQUIDATION: If Virginia title, must be in the name of the lien holder. Will accept repossession affidavit from other states. PLATES: Remain with debtor. http://www.virginia.us/cmsportal/ http://legis.state.va.us/Laws/CodeofVa.htm

YES, they can and DO. Read your contract about the re-instating part. Was this your 2nd repo?

IF you didnt get all your PP back, you can complain to the LENDER who had the car repoed. If that doesnt get it back, you can contact a local attorney. Plz keep in mind that some sort of proof the items were IN the car will go a long way. If you are missing CASH, plz have a reciept that you actually had possession of an amount equal to or greater than what you are claiming. It helps if the reciept is dated in the week of the repo. Just be prepared BEFORE you make claims. It helps people to believe you quicker. Good Luck

Under some circumstances, YES. Do you really want to go to jail for a car???? WHY cant they find a car YOU are supposed to be driving and paying for?? NO, you cannot be arrested....UNLESS, there is a "Writ of Replevin" (court order) that you must at that time turn the car over or tell the lender where the car is. Without the court order it is a civil matter and you CANNOT BE ARRESTED.

YES. Read yo contract.

Not unless the bank auctions the car for less than if left on the loan (which is usually the case). Also, the only way to not owe after repo is file bankruptcy, in which you loose your liability on the car.

Contact a local attorney and have your paperwork ready. If theres a dollar to be made, they will tell you quickly. Dont be surprised if you find out the ORIGINAL lender had to take the loan back when you were in default. Its called 'recourse".

Read your contract. Reinstatement is decided by the lender not the state. Michigan

TITLE STATE: 1975 and subsequent years. SECURITY INTERESTS: Shown on title held by debtor. LICENSE REGISTRATION: Michigan Bureau of Driver and Vehicle Records, 7064 Crowner Drive, Lansing, Michigan 48918. Tel:(517)322-1460. RECOVERY REQUIREMENT: As per UCC, repossession allowed without committing a breach of the peace. Repossesses must hold valid collection agency license & Regulation, Collection Practice Board, P.O. Box 30018, Lansing Michigan 48909, (517)241-9239. DOCUMENTS REQUIRED FOR PLATES: Remain with debtor.

state website = "www.state.mi.us"

YES, they can LEGALLY. This is more often used by collectors as a scare tactic than actually done.

YES, ALL events relating to account activity should be on the CR. If the negative reports can be on it, the postitive can. Contact the CRB and get the info to add it.

1st repo?? Pay the arrears and repo fees, have ins. coverage 2nd repo??? Most likely have to payoff the loan unless the lender is in a really good mood. Read your contract

IF you contact the lender that has the loan on it and IF the lender approves you to assume the loan.

WHAT "GAP" does it cover?? The gap between your down payment and what the car is worth or the amount you lack to be current with the payments? Read your "GAP" ins. contract to be sure of the coverage. I've never heard of it covering a repo.

You have the SAME rights the buyer has,pay it current,ins, it, pay the notes on time OR pay off the loan. That gets it out of repo. IF no one does that, your rights are still the same. You can be sued for the balance due after the lender sells the car.Your wages garniaheed,ect. The reason for repo is default NOT criminal action.