Repossession

Read your CONTRACT first. If it doesnt cover redeeming your collateral, copy and paste this.

http://leg1.state.va.us/cgi-bin/legp504.exe?000+cod+8.9A-610

• • • but were behind one payment from the year before?":**** you answered your own question, didnt you? Pay them $5.00 per month on the way behind payment and maybe they will be quiet. LOL

http://www.nlsa.us/public/consumer/cn1_collection_procedures.htm

looks like you have problems

READ your contract. Likely the answer is YES.

We 1st question that comes to mind? WHY would you do that? Why get involved in something that's NOT your problem? Are you benefiting from this in some way? IF you wont give the car to the repoman, TAKE it back to the DEBTOR and tell them to handle their problems themselves. ANSWER; in some states YES. CA in particular frowns on it.

MY ANSWER; In Arizona we drove our vehicle everywhere, we just had to hide it from the ford repo. guys. Its beenover five years and ford no longer wants the vehicle. The X still has to pay for it..I have it in Washington state now and have had a protection order through the courts to prevent the X from taking it. In Arizona and Wash. I have been pulled over by police and never had a problem, just a few tickets.

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A civil action can be taken against you in a court. In Georgia, O.C.G.A. 16-9-51 "Hiding, encumbering or endangering property subject to security interest........" is a Misdemeanor charge that I have employed multiple times to "squeeze" the necessary whereabouts of a specific vehicle, piano, diamond ring from a debtor. If the warrant does not "squeeze" the way I want, then there is an outstanding warrant for your arrest on the books. The next time the person is pulled over.....In the slammer and only a judge can let them out! So consult the Law books in your state abnd find out if this type of action applies. If it does not then the only thing you have to worry about is the debt on your credit.

Y-THINK-Y

IF they did not break into the garage(ie; someone let them in)

They take out the personal belongings. This includes the tags. Check with the repo company or lender for that stuff back.

By phone at the last number you had for them?? Look them up in the book or on the computer? then call them???

check this site

Trick question, huh? What is your idea of 'secured' gate? Why would they want to make "contact"? The lender has been trying to "make contact" for how long? No responce to "make contact". Repomen get paid to pull iron, NOT make contact. No candy for you. Sorri

YES, they can/did. You had paid NO money on the car so it WASNT yours. Do you think it makes you look like a GOOD credit risk when you stop payment on the DP??

Each one starts from date of report to CB. Its NOT the repo report that will hurt. The JUDGEMENT will stay there longer and has more teeth.

2nd yr of 6-yr loan, b/k 2yrs ago,???? You just cant quit can ya?? Buy something you can PAY CASH for and leave the credit alone.

The limit is in the contract you signed. It likely says that when you are in default the lender can repossess. That means anytime you are behind at all... even one day, although most places wouldn't do that. They would rather get the payment rather than go to the trouble to repossess.

There are none. As long as you remain delinquent on payments, or until other arrangments can be made with the seller, the vehicle is still theirs. And they can come and get it anytime they want.

For all practical purposes, YES.

The Lender may or may not want to repo a wreck. Bankruptcy, same deal. Call the lender, tell them what the car looks like, and let them decide.

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File bankruptcy if you are buried in unsecured debt, not to save the car. Especially a wrecked car.

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"Repossession" looks slightly better (not MUCH better) on a credit report than a Chapter 7. Let it get repossessed.

If the sibling has the car with permission, you CANT report it stolen. If you are listed on the TITLE as owner or co-owner, go get the car. If you are listed as leinholder, have some type of proof that sibling is in DEFAULT of a loan using the car as collateral, go get it or hire a repo agency to get it.

IF the TITLE is in YOUR name as owner or co-owner, go get it. If you LOANED it to them, you might send a registered letter demanding they return the car and give "X" days to do so. Then you can report it stolen. They cant steal it as long as they have your permission to use it. Check with a local attorney or your DA for state specific advice.

As a rule, YES. It is up to the lender to post a repo on your CR and most do it automatically.

I recommend discussing it with the LENDER. Ask for "help" in "locating" the car. If that doesnt work, contact a FL repo company for advice. NOTE. Is the TITLE in your name(owner OR co-owner)? If you are simply on the LOAN contract, you are in a mess.

""co-owner of a vehicle"" means you are listed on the TITLE and just that. ""collateral for a loan by one of the parties and also had a co-signer"" IF you are not on the loan, then you are not responsible for paying it. The signor and co-signor will have to pay the loan. However, IF you want/need the car, you may wind up paying the loan just to get the car. Otherwise, you lost your car if it gets repoed.

Lets try this; Co.A sells your loan to Co.B for "cash". Now Co.A wants to repo your car? IS that the question? If so, how Co.A got paid is immaterial to you. They could have been paid in widgets as long as Co. A and Co. B were happy. Id Co. A sold with RECOURSE to Co.B and you DEFAULT on the loan, then Co. B will tell Co. A"its back to you now, GO REPO IT". If i understand your question right, the answer is YES.

You answered your own question. CROSS COLLATERALIZATION.

YES it hurts for about 7 years.