Repossession

IF you had ins. coverage and were not in DEFAULT of the loan in any way, CALL AN ATTORNEY NOW ! ! !

Are you sure the vehicle wasn't actually stolen? Usually the only two reasons for legal repossession are being in default on your payment or not keeping the required minimum insurance on the vehicle. This is to protect the finance company from possible loss and basically protect their investment.

CALL THE LENDER. They can advise you and work with you.

Until the Statute of Limitations tolls on the judgement.

NO, there are no more "DEBTORS PRISONS".

You're NOT forgotten or forgiven. Someone will be collecting that $9000.00. Charge-off is an accounting term to cover the interst they lost on the loan. You will be contacted to pay.

IF the lender posts a repo on your CR, you have one.

You will have the repo on your credit report, but it should also show up as "redeemed".

It means the lender wrote off the interest they DIDNT get from the debtor. Its just an accounting term.

the same as an invol. Depends on your state laws. If the lender has gotten a judgement, it could be a long while.

Why should they have to move anything? Why dont you move it?? Are you trying to "HINDER A REPOSSESSION BY LENDER"??? In some states that is a Class 2 FELONY.

NO. they can not touch other vehicles. you however *may* be compelled by law to grant access to the repo agents.

Try again, both of you. The Court decisions rendered in most states under 15 USC 1692f, and the specific laws regarding self-help repossession under most state statutes hold:

1. "Hindering a Secured Creditor" requires an overt and intentional act to prevent the secured creditor from enforcing his interest (e.g. pawning an item known to be subject to another security interest, but representing it as your own). Parking your car in a particular parking scheme does not, and has never, qualified.... so quit trying to scare people, and thus get yourself in trouble under the Fair Debt Collection Practices Act.

2. The moving of another locked vehicle (presumably by using a tow truck to pull it, but the "how" isn't relevant) to gain access to a vehicle is clearly prohibited. The act of moving the vehicle, regardless of purpose or duration of time, is taking "custody and control" of another's personal property to which you have no legal interest, without their consent, and as such qualifies as "Theft by Unlawful Taking (Automobile)" or at best "Unauthorized Use of an Automobile"; both of which are felonies, and are certainly considered a "breach of the peace" under the UCC.

My advice to the repo guy, move nothing, especially a car, unless you want the debtor to own your, and your employer's, business and assets for a very long time to come. In most states, such an act not only results in treble damages to the debtor, but also criminal prosecution. This from a KY attorney. Consult a reputable attorney for advice... MAPOTHER (do a google search) is a good source for background info.

Advice?? I'm full of it...LOL CALL a local attorney for the usual FREE consultation.

Think about it. IF the lender waited until the loan was paid off,zillions of repos would NEVER be reported. Sooo, they report them as they happen.

EITHER/OR. they both signed and agreed to pay.

READ your contract. If you are in DEFAULT of the terms, you can get repoed.

Unless a court rules there was a breach/violation on the lenders part, YES. If you have doubts, call a local attorney for a consultation.

I suggest you do a little reading befor you go out in the repo world. Read this first and then, this Take your time, the more you know, the better your chances of success.

Thats depends on the contract the "repoman" signed with the lender before he/she started out on that little adventure.

NOPE, the LENDER stops the calls IF and WHEN they decide as long as the law allows.

You get it back after meeting the terms of the contract. the LENDER will tell you how much it costs to get it back.

YES, its legal. The lease you signed was a legal contract calling for you to do certain things at certain times. You defaulted on those terms and the Lender is reporting that you defaulted.

Cure whatever terms you were in DEFAULT(ins,ect) of. The LENDER can tell you exeactly what they require.

They can ONLY garnishee the wages of the one(s) who SIGNED the contract,whomever that may be.

It will make a repo appear on ones CR and subsequent loans will require a higer interest rate and possibly higher down payment.

IF the ins. co. told the lender the policy was canceled, then you were in DEFAULT and the lender will repo.The lender and the ins. co. will have to get that straightened out.

A writ of sequestration is a prejudgment process which orders the seizure or attachment of property to be maintained in the custody of the U.S. Marshal or other designated official, under court order and supervision, until the court determines otherwise. The purpose of the writ is to preserve the named property pending outcome of the litigation.

NO. Think about it, IF this was true,EVERYONE would buy cars in AZ and nowhere else, just to get around paying the balance due. The UCC is standard across the country concerning contracts and default on contracts. Good Try, no candy for you.

to the best of my knowledge you can. AZ is a non recourse state. If they have the collateral, that's the best they're going to get. They can try and get you to pay but they can't make you legally....