Repossession

YES, you were in DEFAULT by NOT having your own coverage. READ the contract. YOU agreed to maintain your OWN comp. coverage tonprotect the collateral. You didnt. This is a common misconception that lender placed ins. is the same as comprehensive coverage by the debtor. Yes but that was a lousy way to do it. Did you honestly expect the lender to let you ride around in the collateral with NO ins.?? If you are sooo broke that you cant afford the ins., you surely cant afford the ticket for NOT HAVING IT. Or can you? Read the question he was already paying for the increase!!!

IF the co-signor is listed on the title as co-owner, s/he has the right of possession. If NOT, just keep paying the payments. Talk to the lender about REMOVING the signor from the loan and giving you the car. Normal procedure.

The bank/lending company are the ones who repo your car the repo chimps are just their agents.Your bank should tell you.

In a word yes.Just because you voluntary returned the car doesn't mean anything to the lender they still want the balance of their loan.You need to find a few things out to help yourself.First find out what the dealer did with the car did he auction it or resell it?Most importantly how much did they get for your former car?The difference between your original loan amount(including all the interest)less your total payments and less what the dealer got for your former car should equal the remaining balance BUT CHECK The NUMBERS !!!!!!!!!!!!!!!!!!! IT is a good idea to conduct all correspondence with the lender/collector in writing only and read what they you send very carefully!!!!!!!!!!!!!!! GOOD LUCK

1)get the Vin # the vehicle identification number 2)call the police and ask them to run the Vin they should be able to tell you if it is stolen or not and what to do next

Yes and they will.

Because they lie just like the repo people they employ.You need to get everything in writing...... just because they say it, don't make it so.

you should contact the lien holder and advise them of your situation. you might be able to get an extension for a few months and maybe during this time you have remedied your situation. if you simplycant affordthe car, we recommend you call and let them know. its always best to be in contant with them and voluntarily give up the car than to wait and them take it.

Basically both the plaintiff and the defendant will have the opportunity to make statements pertaining to the case and present supporting evidence. The judge will then rule on which one proved their case. If the plaintiff wins they will receive a writ of judgment and can execute it against nonexempt property belonging to the defendant. The usual choice is wage garnishment or bank account levy.In some states the winning party can also collect legal fees and/or court costs that were incurred.

IF your loan was discharged, you are NO longer the owner of the car. You can call a local wrecker company to come get it as a towaway. You cant get title to it.

Call the lender, and make some kind of arrangements. Do not let your car get repossessed. You will be responsible for the balance on the loan. no

It hurts you credit tremondously. It will stay on your credit report for 7 years, and there is nothing you can do about it. Do not allow your car to be repossed. Voluntary repossession on not any better. Contact the lender and work something out.

As I learned last week, yes they can. If you do a search through this website or Google, you'll find better verification. From my own searching, there doesn't seem to be any regulation on how much they charge. I was raped for $25/day car storage fee and $10/day per bag (2 bags) personal item fee. They took my car on a Thursday night, the bank couldn't give me any info. on Friday and the repo lot was closed over the weekend. Picking it up on Tuesday cost me $225 just for the storage and personal items. if all your stuff was there and your car wasn't damaged you did just fine my friend some places charge alot more and usually all your good stuff is gone... consider yourself lucky ....very,very lucky!!!!!!! They are not entitled to possess your personal property therefore they have no right to charge you for it...now that does not mean they won't try it is up to you whether you pay it or enforce your rights. Well, it looks to me that they are required by law in CA. to inventory your precious personal property AND to CHARGE you to do so. Might I be wrong??? http://www.leginfo.ca.gov/cgi-bin/displaycode?section=bpc&group=07001-08000&file=7507-7507.13 (f) A disclosure of the charges payable by the debtor to the repossession agency for the storage of the collateral and personal effects from the date of repossession until release of the property from storage. The notice may be given by regular mail addressed to the last known address of the debtor or by personal service at the option of the repossession agency. Yes storage not to retrieve !!!!!!!!!!!!!!!!!!!!!!!!!! Read the question!!!!!!!!!!!!!!!!!!!!!!!!! That law you cite means you have to remove log and store personal property you know actually get up and do something.But it also means if you don't log and store the p.p. i don't have to pay you for it because you didn't do it right?Besides that is only in CA.there are 49 other states in case you didn't know! Most lenders don't want to be responsible for items left in a repo'd auto so it is up to the repoman to retrieve belongings out of the car, which now means that the repo co. is responsible WELL, with responsiblity comes an inventory fee. $75.00 inventory fee plus $25.00 per day storage. The repossession company CAN charge you for their time and their efforts to inventory and store your personals. Charging you for your personals themselves constitutes conversion. Some states have specific law regarding this, so the best way to know for sure is to google it in your state. Unfortunately, calling a lawyer or legal agency won't get you the best answer. Lawyers will say what you want to hear and then tell you to hire them to sue when there may not be a legal leg to stand on, meanwhile, you pay thousands to find out what you could have found out for free on the net. Most legal agencies just plain don't know. As I said, each state is different from another.

Where ever the car is principally garaged.

Repossessions are regulated by Colorado Revised Statute 5-5-111. You can refer to the statute by going to the State of Colorado's Web site, selecting the link "Legislature", and then "Colorado Revised Statutes". Vehicle Repossessions If a person is in default of a vehicle loan the lender may repossess the vehicle. The lender must notify a law enforcement agency verbally or in writing that repossession will take place. The lender must provide the law enforcement agency the name of the owner, the name of the repossessor, and the name of the loan holder. Vehicle Sales by Dealers The Motor Vehicle Dealer's Administration handles most complaints against vehicle sales from a dealer. The Dealer's Board will handle complaints alleging there was misrepresentation, improper paperwork, title delays, etc. Please note: you do not have a three-day right to cancel on vehicle purchases, unless the DEALER sells the vehicle at a place other than the regular selling location (example, at a stock or trade show). If you signed the contract you have purchased vehicle unless the dealer agrees to find you financing and is unable to complete the contract. Complaints against a new or used vehicle dealer should be brought to the attention of: Colorado Department of Revenue Motor Vehicle Division 1881 Pierce Street Suite 142 Lakewood, CO 80214 303-205-5744 Sue the lender in court they clearly failed to give notice of any kind.

NO. IF the co-signor is also listed on the TITLE as co-owner, they can take possession. If not listed on the title they would need to bring a civil suit and bring enough evidence to convince the court to render a judgment transferring the title to the co-signer. Crucial evidence would be proof the co-singer paid the loan.

I would not think so, but, your lender does require that you carry collision insurance on the car, which is the lender's collateral. It depends on what the note you signed says about this. Read it.

If you signed the wage garnishment yes

They will then sell the car and you will be responsible for the difference in what the car sells for and the balance on the note. Don't let it happen. Contact the lender and work something out.

The insurance company will pay the lender to the policy limits. This payment will only be made if you have theft coverage and not just minimum coverage. I believe you still have to make the payments, although I am not sure.

Some lenders might consider someone who is at least 18, most prefer 21 or older. Some contributing factors are the credit history of the co-signer, if the person has acceptable income to debt ratio, gainful employment history, etc.

It will cause the credit score to decline and will remain on the credit report for seven years, perhaps creating problems for the person to obtain future credit/loans.

A co-signer does not have rights to the property without having used due process of law to be granted said rights. The distribution of property when it pertains to the dissolution of a marriage is generally at the descretion of the presiding judge when those involved cannot reach an equitable agreement.