Repossession

== == Yes. A debt can be negotiated, and a discount agreed upon between the two parties. Better to get something than nothing, is the idea for those who are owed the debt.

This is simple contact your lending institution the one that gave you the loan and consiquantly repoed your ride and they will forward you to the collection company that picked it up and you can make arrangements between these to places to make payment and the return of your property you will have to go and get it after your squared away with the bank the repo. company will not bring it to you. This is the wrong place to ask that question. The place you need to ask it is the lender's ear. The lender stipulates what needs to be done to get it back. After you have met their stipulations, they will contact the repo company and release the vehicle. You then call the repo company and arrange to pick it up. Most repo companies I know will deliver it back to you for a fee, above the fees already paid and payable to them, not the lender. For that matter you may find an established reputable asset recovery agency such as ours that delivers the vehicle to a mutual destination that is local for both us and you for FREE. What can we say, we appreciate the business and know that one day we may be meeting up with you again.

When you go into business/personal bankruptcy that means you have to give up everything. However, before claiming bankruptcy many people hide things or sell off vehicles to a trusted family member or friend. This way you can actually buy the car back at a later date. People who own companies often put their home, properties, etc., in their wife or husband's name and thus, the courts can't touch these items. Believe it or not, in business (not personal bankruptcy) you can start all over again under other partners or under a different company name. Sad, but true. Personal bankruptcy is much less lenient.

When you cosign you are taking on all responsibilities of paying that debt. If this person you loaned the money to is bankrupt then it's like getting blood out of a turnip. Going bankrupt means you don't have any assets or money. To be honest, most people (if in business) do have spare cash stashed away and also assets, so if this is the case please seek legal counsel. Good luck Marcy

You will have to sue the lender/bank get several estimates to fix the damage file a police report, take pictures.You can sue in either small claims or regular court either way you can represent yourself.

I believe you can get your down-payment back if you do not have the car. But, if the dealer is doing that to sell the car after you have made a downpayment (depending on what the contract/receipt states) then you mave have legal options against the dealer. Some lawyers have free consults. I would contact a lawyer for free consultation before getting my down-payment back because the dealer may have breached a prior agreement/contract, whether verbally or written. State laws may differ.

Only if the married couple resided in a community property state. In community property states all assets and debts belong to both spouses equally regardless of whose name appears on the documents. Texas and Wisconsin treat debts that are usually chargeable to the surviving spouse differently than the other CP states.

YES The bank can file suit, receive a writ of judgment and execute the judgment pursuant to state garnishment laws to recover any deficiency or other monies owed relating to the repossession. However, if the debtor has an account at the same bank where the loan is held, the bank probably has the legal right to remove whatever amount is necessary from a savings or checking account w/o the regular lawsuit process. The majority of loans procured through a bank will have a "set off" clause in the contract which allows them to take this action.

Usually the insurance policy of the owner of the car is primary and then if the driver of the car has a policy of their own then it is secondary.

Work out some sort of agreement very quickly with the other party. If you can't do that then perhaps your only option is to file bankruptcy very quickly. Filing bankruptcy legally puts a stop of wage garnishments. Filing bankruptcy stops all of your creditors' collection activities which is why it is often used as a weapon to avoid judgments.

A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.

No, he MUST do what the company he works for tells him to do.

Depends on the contract you signed and the state that you live in. Some states require a 15 or 20 day Right to Cure letter be sent to the debtor prior to repossession and some states allow the vehicle to be repossessed the day after you miss your payment.

You cannot just "give" the vehicle back to them. If you cannot continue paying for the vehicle they will continue to threaten you trying to get their money back from you. When they see that it is hopeless they will repossess the vehicle and auction it off. I haven't read your contract, but probably you will be liable for the difference in what they get for the car and what was owed on it, which can be a substantial amount. If they cannot get you to pay this amount they will probably take you to court and get a judgment for the amount plus attorney fees and court costs. If you can't pay this they will garnish your wages, freeze your checking accounts, savings accounts, and generally tie up any monies they find out that you have. It can turn into a messy situation. I would suggest that you read up on consumer protection laws in your state and the federal statutes. This will tell you how they have to deal with you and what you can do to protect yourself.

I have file for Chapter 7 twice and it has had no effect on my car insurance.

You might talk to a lawyer and settle it in small claims court.

Only if you intend to get it back.

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Probably. Contact your lender while the loan payments are still current, and they'll be much friendlier and more cooperative. Don't wait until you're behind. Remember, they don't want to take your car, they want their money. Probably. Contact your lender while the loan payments are still current, and they'll be much friendlier and more cooperative. Don't wait until you're behind. Remember, they don't want to take your car, they want their money.

Depends on your bank and what the history is with the loan. They have the option to make you pay the entire amount of the loan. They can also allow you to just bring the loan current along with any other fees to get it back.

Is your gate locked. Why not take care of this. If you are behind on the payments and don't correct this, they will eventually get the car. Call the lender and work something out. I can assure you the lender does not want to repo the car. They would much rather work this out with you. They just want the money back they loaned you to purchase the car. Let this car be repoed and your credit will be ruined for 7 years, and you will still have to pay the difference in what the lender sells the car for and the balance on the note, plus repo fees. A bad deal for the bank and for you. Sit down with them and work something out.

A creditor would have no authority regarding a tax refund. But they can file suit and if they win, receive a writ of judgment. They could then use the judgment as a wage garnishment according to the laws of the state where the debtor lives. Texas, South Carolina, North Carolina and Pennsylvania do not allow wage garnishment by creditors. All other states have established their own garnishment statutes, most follow the federal wage garnishment guidelines.

And that is three more screws than are necessary to consider it "attached". In fact, if it were just laying on the floorboard with wires to the stereo and speakers it would be attached.

NO! He is only guaranteeing the loan. He has no legal right to take the car.

yes, as co-signer you only guarantee the loan in case the primary defaults, they own the car.