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Repossession
Seizure of property bought on credit for which loan payments are not being received. Please note that when asking a car repossession question, it is often useful to include the state that you live in. This will enable people to give you better answers.
11,694 Questions
If you stop making payments on your car and move will the repo man or finance company find you?
finding people who dont want to be found is the repomans job. MOST of them are VERY good at it too. good Luck on hiding the car. Remember, cars dont just fall off the face of the earth. Someone knows where they are.And usually will tell if the price is right.
try stoptherepoman.com, I found it and it's a great website that has answers to all of your questions. and saved my car from repossession....
As a "collector" I find it is sometimes easier to locate people out of state. Most people leave a BIG MESS behind, and someone is always willing to help ($$$ will turn people, everyone has a price!) If they are still around the "feel bad for the idea of it, but distance an an anonymous "helper" get's the job done.
Repoman?? NO,NO, and NO. the sheriff?? IF he has a replevin OR warrant, YES. In ANY state. And for the repoman to say he can is ILLEGAL. Call an attorney.
How can you get a 1997 repossession off of your credit report?
http://www.bankrate.com/goocalf/search/story-advice.asp Getting it off? NOT likely. Improve it? Maybe, if you settle the debt with the lender. Get it marked "paid as agreed" IF you negotiate some type of deal with the lender. It is just a report of what happened. try the above link for more info. Good Luck
Chances are good the bank sold the account to a collection agancy. Contact a local attorney for state specific info.
NO, there are no more debtors prisons.
If your car is repossessed by a 'buy here pay here' dealer does it affect your credit?
Only if the dealer reports it to the credit bureaus.
If your car was repossessed and they are taking you to court what can you do to get out of it?
declare Bankruptsy comes to mind first
Well, it will be hard to dispute that you were in default and they repoed the car. Also, hard to dispute that you still owe money after the car was sold. Soo, you might consider Bankruptcy if you really dont want to pay what you owe. B/K attorneys love to give FREE consultations.
The lenders have deadlines, you have dealines, somewhere they have to meet. Its always "bad" to hide a car. It is only putting off the inevitable. Sorri, I dont do 'white Lie" discussions. LOL
Can a co-signer have a car legally repossessed because of non-payments?
NO, that is the job of the leinholder. YOU dont want the responsibility of repoing it either. IF you are listed on the TITLE as co-owner, you can go get your car. Otherwise, sit back and enjoy the fruits of co-signing.
If you cover the VIN number on your car can the repo man still repo the car?
There are several places where you can find the VIN other than on the dash. We try to verify the VIN that way first and if we are unable to do so that way, here in Ohio I can call my local police department and they will verify the VIN by cross checking it with the license plates on the vehicle. If the car has the correct plates for that make and model of vehicle and the VIN doesn't match the one that I'm looking for, then I leave. If the plates don't match the type of vehicle, then the police will impound the car for having fraudulent or incorrect plates and we can verify VIN from the police impound lot and repo it from there.
More Information:
Most REPO people will just try the key and if it works GO. This is of course illegal but they don't care. That's why it is important to change the locks and frequency of the auto locks.
Cars with incorrect plates can only be towed on PUBLIC property. If it is parked in a driveway or parking lot (say at your office) this is PRIVATE and cannot be towed. Unless the owner of the property says so.
A smart repo agaent will VERIFY the VIN before taking the car. Most people don't cover all the VINs.
Colorado
TITLE STATE: Yes. SECURITY INTERESTS: Shown on title held by lien holder. LICENSE REGISTRATION: Colorado Motor Vehicle Division, 1881 Pierce St., Lakewood, CO 80215. Tel: (303)205-5608. RECOVERY REQUIREMENT: Repossession allowed without committing a breach of the peace after 20 Day Right to Cure Letter from lien holder to debtor (except skips, leases, lack of insurance or third party possession). Must notify LEA with jursidiction within I (ONE) hour of repo.
PLATES: Remain with the debtor.
colorado
lets say the total of the payments are $20000.00. And you have paid $10,000.00 on the loan. The car sells for $5000.00. That leaves $5000.00 for you to pay. These are round numbers for examples only. there will be other fees added in that will change it some.
Can a car be repossessed from repair shop?
not sure which Hill & Associates you mean. Can a car be repossessed from repair shop?": YES
Hold that thought because here in Ohio if a car is up for repossesion and it is sitting at a repair facility and a bill is owed on the car for repairs it cannot be repossesed unless the repair bills are paid to the shop. the shop owner has the right to hold the car and notify the bank or finance company. they will either pay the bill to the shop and retrieve it or write it off. At that point if the shop owner cannot get the person to pick up the car they can file for a title for the vehicle.
If car is repoed why are you required to pay the total interest on a loan?
Maybe you could call an attorney for state specific advice.
Does the repossession agent have to let you take the plates of of the car in Missouri?
Last i looked the plates STAY WITH THE DEBTOR. Maybe he planned to drive your car all weekend. Was it a nice ride? CALL the LENDER Monday morning and get it straight.
The plates belong to you, not the lender, nor the repo man. They are registered to you and are your property and responsibility.
If the plates were used on another vehicle that was involved in a crime or accident, and someone wrote down the tag number, the information would come back to you, and you would have alot of explaining to do.
If the car was reposessed with the plates still attached, and you can prove that, then the headache is with the repo man. He is responsible for the car and the personal property left with it. Once they take the car with the plates still attached, it's on them.
Can they move another car to get to the one they need to repossess?
Some do, some dont. I dont.
They are not supposed to but that doesn't mean won't
Yes. In some states I am not sure about all. A repo man cannot move another vehicle to get to the car he needs, nor can he come into a shut or locked garage to retrieve the car. They are supposed to just wait until they are able to pick the car up without breach of peace. That is when you can take them to court for trespassing and all you have to do is tell them to leave and they have to. They can even bring the cops out if they want, all that is for is to keep the peace but some people think the police are now involved and they have to turn the car over. Not the case. The only way that does any good and the cop can enforce the repo is if the sherrif has signed (a paper, it's called something I forgot, you can google it)
What state are you in? It depends on what the courts have upheld as to BOP.
california
usal repoers can not move some thing to get you car no matter what state
Read the contract again. What part of it are you in DEFAULT on? There is a clause in most contracts that says the lender can accelerate the balance due for a number of reasons.
That needs to be discussed with the LENDER before you let it get repoed. Better yet, discuss while you are current on the payments. If you're in a temp shortage, they might work with you on getting around it. If its NOT temp, they will likely want all the money due at one time. TALK to the LENDER about it. Good Luck
LENDERS repo cars. Co-owners on the TITLE, take possession. NOT co-signors on the loan, but CO-OWNERS ON THE TITLE.
How long does the bank have to come after you after your car has been repossessed?
Does the bank have your current address and/or phone number? They will be calling on you.
If you have two car loans at one bank can the bank repossess both even though one loan is current?
YES, IF the loans contain a CROSS-COLLATERALIZATION clause. Were you in DEFAULT of any other conditions of the loans? INS.???
Can a repo man repossess a car from a company's parking lot?
YES they can come in the parking lot. YES, if they are smart repomen, they will check the adjacent blocks. Their job is to FIND the car and recover it. If it is not at the POE, they should run the given address. If not there, they run the references add.
I didnt see any limitations as to HOW the repo occured. § 8.01-427. Persons entitled under decree deemed judgment creditors; execution on decree.
The persons entitled to the benefit of any decree or order requiring the payment of money shall be deemed judgment creditors, although the money be required to be paid into a court, or a bank, or other place of deposit. In such case, an execution on the decree or order shall make such recital thereof, and of the parties to it, as may be necessary to identify the case; and if a time be specified in the decree or order within which the payment is to be made, the execution shall not issue until the expiration of that time.
Call DCA's Consumer Information Center toll-free for additional information. The Center accepts calls in English, Spanish, and more than 100 other languages.
Call DCA's Consumer Information Center toll-free at 1-800-952-5210. In the Sacramento area call (916) 445-1254.
http://ag.ca.gov/consumers/index.htm
