Repossession

You need to contact your Attorney General about this one. You will get the correct answer based on NY law. Read your contract it should state if there is any "linkage" between the loans.

Yes, but the court may not allow the bankruptcy to be used to release the co-signer from the financial obligation.

No, what will happen is this: the finance company will pay off the mechanics lien (usually) and tack that on your loan balance, it would be considered a repo fee.

yes, u can surrender a car back to the bank at any time, at this time it is up to the bank on weather it is worth picking up or not. then they will decide if it will go to auction or not.i hope i helped some. just call the bank and see what they want u to do. but it will take alot of pushing for them to pick it up, they usually would rather you pay for it....good luck Why bother???Keep making the payments if you can.The "voluntary repo/surrender" does not help you at all in this situation.

How do you write a car repossession letter?

Some lenders will allow more than one deferred payment as long as it has been at least twelve months since you last deferred. There is a little more flexibility if your car is financed through your bank and not a "shotgun" company from the dealership. It would be best to call them and explain your situation and ask for suggestions. They might consider refinancing your car or letting you pay a little extra on your next few payments to make up for the one missed.

Ususally that just means that the dealer has the resources to arrange the financing on the spot; you don't have to go somewhere else for a loan. They won't always be the best loan terms, but the're convenient. And if your credit is poor, they may be your only option.

Not sure of your question. Do you mean do you still owe after the car is repossessed? Or do you mean do you have to pay off a loan to buy a repossessed vehicle? It depends on the state you are in, contact the lender.

NO, they can "attach" the house so that IF you ever sell it, they will be paid FIRST out of the sale proceeds. READ your contract to see what you agreed to when you borrowed the money.

Your credit is severely damaged. Stays on your credit report for 7 years. Don't let this happen. Contact the lender and work something out.

It depends on the laws in your state. What state are you in?? The previous answer was right on the money. It all depends on the state. For instance, in AZ, there is a 10 day cure period. If you don't get right with the lender in those 10 days, they can sell the vehicle. It also may depend on your contract that you signed. The state may have no cure period but your contract may say that there is a 15 day period. Check your state laws and your finance agreement.

A person's wages can only be garnished after due process of law. A lawsuit won by the creditor will result in a judgment award which may possibly be used as a wage garnishment. Four states do not allow the garnishment of wages for creditor debt, they are Texas, PA., S.C. and N.C.

Call a local attorney for state/case specific advice.

Contact the credit reporting agency

Yes if they are trying to collect what the Upside down difference was from Repo-ing it and auction off price. It should only read that it's a Debt being collected from previous car....

Collection agencies cannot garnish wages or seize property. They can refer the deliquent account to a collection attorney who can file a lawsuit. The attorney must be licensed in the debtor's state and the lawsuit must be filed there. If the lawsuit is won, a writ of judgment can be issued. The writ can be executed in the form of wage garnishment, bank account levy and seizure of nonexempt property. There are collection firms such as Mann Bracken who are also collection attorneys, they handle accounts from large banks such as Bank One/Chase. MB has been authorized to act as an arbitration collector, which differs somewhat from traditional lawsuit action. ("Macky" macky83@juno.com)

Only if they actually took the charge off.

You are absolutely kerrect. They cant get blood out of a tur-nip or a cat-nip... * Wage garnishment is not the only option that a creditor has to enforce a judgment. In the majority of states judgments can be executed against bank accounts, all non exempt property belonging to the debtor (in most cases,even that which is jointly held) and liens against real property. Property that is not protected by the state's exemption laws can be seized and sold by the judgment creditor to repay the debt owed. Social Security and pension benefits are not subject to creditor attachment, but the majority of states do allow unemployment benefits to be garnished.

They reported what happened (a repo). Yes!!!! You should have never let it get this far. Take care of your business. Unlike the repo guys who are perfect and never make a mistake we mere humans are mortal and do err from time to time so please bear with us ...painful as it is for you(of course most repo morons couldn't make it as auto wreckers so what does that tell you). Yes lenders will put a repo on your credit regardless of what they may tell you and it stays on.You can write a letter to the credit reporting agency and dispute it.

http://www.repocanada.com/usrepo.htm check this link

Yes or the middle of the day or while you are in the store. CONTACT your lender and try to make some type of arrangements to pay. Some lenders will defer a payment to the end of the contract if you can convince them that you will be paying shortly. If they have repoed it its too late to roll payments.Let me see if I get your thinking.... he hasn't made any payments in 45 days so they repo his car.Now the guy not only has to pay the back payments but also he pays your fees for towing,storing the vehicle and lets not forget about my personal favorite the storing of personal property which oddly enough is still in the car except for the stuff that the driver helps himself too.So we are looking at another what about another$600-$700 depending on how long the car sits.The lender ain't likely to roll payments at this point besides you boys want certified checks.

Renegotiate the loan with the lender. Sell the car to someone else or have them take over the payments. The very last thing you want to do is default on the loan.

Answers: There is no guarantee for removal but since chexsystems is a CRA, everyone has the right to dispute their report with both the banks and chexsystems. The idea is to catch them in an error.

Unless the info was reported in error, you can't. You can write them and ask, but if they verify the information with the bank, you will remain on their list for five years, making opening a new bank account difficult. If you pay off the bank that reported you, this info will be reported, and there will be a "paid" status on your record, but you'll still be on there for the full five years

YES

No, wages can not be garnished in Tx except for the IRS, Student Loans, & Child Support.....They can however garnish a bank account if they get a judgment against you in court.

YES, it will be called a "voluntary" repo, but its still a repo. Is there any way you can SELL it?? Why would you return it to the dealership? They have nothing to do with this. The bank holds the note and as such partially own the car until it is payed off. Talk to the bank and work this out. Your credit will be damaged if you return the car and default on the loan. Just too add the bank actually holds the title so any private sale would have to be approved by them.I would not let the lender know you cannot afford the car just yet.Try to sell it on your own.If you turn the car in you are not really helping yourself.The bank will still charge you to store the car and the auction and prep fees.The bank auction is private and your car will go below wholesale sometimes way below and the banks don't care because you pay the difference.Do you have insurance?

IF they get a JUDGEMENT, they can. The amount of the repo is small compared with the remainder of the car loan but they generally sue for everything.You can fight it and counter sue to reduce the amount you owe.

NOT unless it was stolen. Stolen cars are reported stolen. Cars securing a loan in DEFAULT are reported as DELINQUENT to the credit bureau. If you choose to report the car stolen, go ahead. I would not reccommend it though. Filing a false police report is illegal in most jurisdictions.