Repossession

It wouldn't be a repossession, but if he has had to make the payments, he could sue the primary borrower and might get possession from the court.

A vehicle that is not paid for and has a clear title cannot be sold, traded or salvaged without the written permission of the lender. It is highly unlikely that any such permission would be granted until the loan contract has been paid in full as agreed, allowing the lien to be lifted and a clear title possible.

NO you cannot!!!!There are many dishonest repo people who try this scam to squeeze money out of already cash strapped people.They can charge you if they have removed ,inventoried and bagged your personal property........you know actually done something to warrant being paid.If they refuse to let you retrieve your personal property then contact the lender and ask for your PP back.If that fails contact the police and file a stolen property report and don't forget to include your lisc. plates. (if it applies in your state)

Unfortunately I think phishing scam artist have expanded from just the internet. I often receive letters from collection agencys. I've noticed that most contain some information that I can confirm it by reading the letter. However, recently I have noticed quite a few come through with little to no information about the debt with a phone number to call. Well since I am not in the financial position at this time to correct my past mistakes at this time I haven't bothered calling on these recent letters. I can't tell you how they would be handled, but I have a feeling I would have a similar experience. But I do know you have the right to ask that they prove the debt, and you can read more here http://credit.about.com/od/debtcollection/a/validation.htm Under the circumstances I would encourage everyone to validate every collection letter that one receives before sending any money, and circumstances happen to the best of us and even the worst of us, but if someone is trying to make it right, they don't deserved to be scammed. Then the next step would be to make sure that your credit reports are accurate, if these people can't tell you anything about the debt it shouldn't be on your credit report. If it is write to the credit reporting agency and ask how you can correct it. That's the best steps I can think of right now.

They can try and garnish your wages(if your working)or they will work out a payment plan with you for the remainder or a portion of the outstanding balance.One option you have is to declare bankruptcy to clear your debts.You cannot be thrown in jail if you cannot pay.

They can turn them in to the DMV, but do you want to take a chance on them doing that? Remember, the plates are yours and registered to you. If someone gets the plates and throws them on another vehcle and gets in an accident, say a hit and run and someone writes down the tag #, expect the police to come knocking on your door. To avoid a hassle, remove the plates from the vehicle. You have the right to since they belong to you, not the lender. If the car was taken before you could remove the plates, you have to get them back from the tow company. If your there when they are taking the car, the tow guy has to let you remove the plates. The plates do not stay with the vehicle and the tow co nor the lender has a right to keep them.

Depends on your finance agreement. Most say that after you miss a payment it can be repo'd. There really is no state mandated time limit before repossession can occur. Best thing to do is make your payments and that way you don't have to worry about it.

Ok here we go again,what kind of acromym is bhph regardless there asking you to return the collateral because they dont believe you and only you know if your being honest or not ok so if you are really going to bring your payments up to date and soon hide the collateral and do a good job because I may have the order and I never sleep,because if you take it in the can charge you all kinds of fees such as storage,etc. and they can demand that you pay the loan in full so unless youll have enough money to cover all these potential fees just hide it and make your payment post hast.Keep in mind that doesnt mean several weeks Im talking days be honest to yourself. bhph probably means Buy Here Pay Here. The lot isn't required to accept your payment depending on your state and finance agreement. It sounds as if they have made a demand for the vehicle. Call them and ask them if they want the payments to be caught up in cash or certified check and see what they say. If they pick one, then take that to them. If they say "We don't want it, bring the vehicle" well, then you have evidently pissed them off too bad at some point or another and you need to take them the vehicle.

just exactly what do you mean by terms is this present or past tense are we talking about conditions leading to repo. or are we discussing what it takes to get in this position ok here are a few ideas if we are talking obout what leads to a repo. that could be varied usually outlined in each individual contract.now if we are talking about how one goes about doing a repo that also varies depending on area and lending institution,and type of collection agency.It would help greatly if the question was more specific.I have never heard of anyone refer to terms I would have to believe that there suggestig to the process due to get in such a position and that is outlined in each individual contract and should be but most usually isn't made known to the debtor at the time of the commencement of the loan,its in the fine print the road/section least traveled/discussed by the salesman at the time the property is purchased.However it is a general rule that usually goes with out saying that if you miss one or more payments you breached the contract and defaulted on loan there for starting the due process that leads up to the repossession of said property I hope this is what the question was referring too.

A creditor can repossess a vehicle at any time after a default(late payment, lack of insurance, etc.) occurs on the contract.

Yes, they will repossess if you have only one payment left.

Grow up. Yes, give them the keys back. If they need them they will ask.....just make sure you get ALL of your personal possesions back before you give them the keys. Well, no. You don't have to give them back. If you choose not to, be prepared to have to pay up to $250.00 for the bank to have a new one made. Cheaper to give them back. Most repo companies won't give personals back until they have the keys. A repo "company" cannot hold your personal property hostage.

Yes, you are responsible for the balance not recovered through an auction, certains fees the lender charges which include the tow. If bankruptcy if filed with the amount of the debt owed, then the debt is discharged and you are not responsible for any money owed. Since bankruptcy is Federal, it applies to All states.

You may be able to declare that you are common law married and as long as both of you are listed as named insureds on the policy you can insure vehicles just as if you had said your I do's for real.

As long as you continue to make the payments, they would have no reason the instigate a repossession. When a vehicle is financed or leased, the creditor has an interest in the vehicle and rights under the contract you signed. If you are in default of the contract either by default in payment or otherwise (failure to insure or other terms) the vehicle can be repossessed.

yes you can, chapter 7. as long as it wasn't a large amount recently.. within 3 or 4 months.. otherwise you have to wait

Its a secret but dont you worry I will find you and hopefully while your shopping for ice cream.... Everyone leaves an electronic trail of where they live. If you pay bills then we have your address. If you shop online we have that information too. Do your kids go to school? How about the hospital, ever been there? Do you pay insurance? How about your employer, do they report your information to the IRS? There are to many ways to list but no one is impossible and hiding only gives the bank cause to not allow you to remain in the loan once we have repossessed the vehicle. Best to not hide but if you do, we'll find ya.

not sure what you mean by format. the repo man can pick it up at your house,work ,shopping center, or were ever they find it "parked". they can not take it when your driving.{i mean,they can't pull you over or any thing like that}

There is a legal process that has to be followed and it depends on the state you live in. Most local laws require the bank to allow you 10 days to come up with the back payments and any new fees. If that time period has pasted then more than likely the sale was legal.

Whatever you do, do not allow this car to be repossess. Find someone who will take over the payments, even if you are upside-down on the loan and have to pay them something to do so. Defaulting on the loan will ruin your credit 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 loan, plus repossession fees. A very, very bad thing for you. Do whatever it takes to avoid it being repossess.

NO they can tell you to pay the back payments and fees (for the impound) YES. At this point it is pretty much whatever the lender wants and they usually want ALL of their money NOW. Are they suggesting that you refinance with them or go elsewhere for a new loan? If you didn't make the payments on the old loan, it is unlikely that they want to give you another and you will have a hard time finding another lender who will give you a loan when you write "pay off repossession" as the proposed use of the funds.

You need to contact your lender to see if they will work with you on getting caught up on your back payments. Some state laws allow the lender to require you to pay the vehicle off in full and some state laws require the lender to return the vehicle to you if you can catch up on the amount you are behind. You need to check your state law and contact your lender.

Do they need to tell you that you have missed payments or let the insurance expire? You should already know. It varies by state, but several require that you be sent a Notice of Right to Cure Default the FIRST time you are 45 days late and you have another 20 days to make up ALL the payments. If you haven't paid the delinquent amount by then, they can come for the car at any time. In some of these states, a statement at the bottom of the notice says if you DO catch up the payments but later become delinquent (even one day) again, they do not need to send another notice before repossession or other legal action is initiated.

Contact your homeowner's insurance company immediately and notify them of your situation.

Absolutely. There are other reasons other than a late payment for a bank to repossess your car. Cancelled insurance or a big drop in your FICO score. If you seem like a credit risk to your bank all they have to do is wait for you to become delinquent once and they have the legal right to default the loan and get the asset back. At that point they can refuse payment and keep the vehicle in most states. The only way is to pay off the full amount of the loan within 10 days.