Repossession

It is up to the LENDER to report a repo. Usually they DO report it and it stays on your CR for 7 years.

IF you signed a loan with the CU and used the car as collateral, YES IT IS LEGAL. And it is WISE for you to pay.

It belongs to the lender and YOU get to store until they come pick it up. yes...but dont forget to let them know you will be charging them a $60 a day storage fee, just like you would get charged.

i would be ready to NEGOTIATE the CR part before I called. For such a small amount due, it would be reasonable for Chry to make some kind of adjustment on whats reported to the CRAs.maybe an attorney could negotiate better than you?? good Luck

http://www.interstatesocal.com/Interstate.htm PIRATE AUTO RECOVERY, INC RA 1297 603 B East University Dr, PMB 287 Los Angeles Phone : 310.532.3772 Fax : 310.532.3734 call CALR for refernces to more companies John Heinkel Talon Auto Adjusters San Diego (619) 588-5036 Any person who engages in repossession activity (other than a licensed repossessor), Is guilty of a misdemeanor which is punishable by a fine of $5000 or by imprisonment in the County jail for not more than one year, or both. [B & P 7502.1(a)] Any person in possession of collateral who conceals property with the intent to defraud a creditor may be guilty of a felony. [PC 154, 504a or 538]

After sending you a "20 day right to cure" notice they can.

Heck NO. LOL they might want you to THINK that...

it depends on the stipulations in your contract. in most cases any breach of cantract can be grounds for repo

YES, you are in effect, buying the lenders interest in the loan and assuming their rights,including the right to repo.

I think it varies on how long and who the finance company is but the last time I made a payment on my truck was November of 2007 and its January of 2009 and im sill driving it

Sure, you can. The entire sub-prime lending market is waiting for you. Max legal interest rate, higher DP, its all about you. The OCC bulletin 2001-6 says:

"The term "subprime" refers to the credit characteristics of individual borrowers. Subprime borrowers typically have weakened credit histories that include payment delinquencies, and possibly more severe problems such as charge-offs, judgments, and bankruptcies. They may also display reduced repayment capacity as measured by credit scores, debt-to-income ratios, or other criteria that may encompass borrowers with incomplete credit histories. Subprime loans are loans to borrowers displaying one or more of these characteristics at the time of origination or purchase. Such loans have a higher risk of default than loans to prime borrowers.

YES, you have to pay off the loan. You have agreed to pay the lender X number of dollars for X number of months in return for letting you use X number of dollars to buy a car. Once the car is sold, the sale price is deducted from the balance due and you still owe that amount.

Ga UCC Sec 9

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.

Many online companies offer help to repair and improve your credit score.

Here's a company my mom used last year. She said they were patient and not pushy throughout the process. She was happy with them and has gotten her way to getting back to decent credit.

yazing.c om/deals/creditrepair/animanifest

== == 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.