Repossession

you snapped the little pin in the trany. big money

This might depend on the requirements of your particular insurance company. Keep in mind that PIP only covers injuries and Liability only covers damage that you do to someone else or their property. The damage to your car can only be covered if you have Uninsured Motorist Property Damage coverage or Collision coverage.

No one has the right to enter your property to repo a vehicle. I your vehicle is out in the street, then its fair game. If you see the repo man coming but has not hooked up to your vehicle, you legally still have possession of the vehicle. Once the vehicle has made contact with the truck the vehicle belongs to him.

You are combining two unrelated items.The bank doesn't care if your car is running or the problems with it they want their money.A voluntary repo is the same as a non voluntary repo you will still owe the balance of the loan after the car is sold and the amount deducted from your outstanding loan.

Im not from ny but in tn.,ohio and mich.they will for sure you see there collateral is in jeppordy and they have to pertect their interest. Yes you must have insurance in NYS.The rates have skyrocketed so in alot of cases it costs more for ins. than your car payments.You can in NYS have a friend register the car in their name to get lower rates and pay the ins. for him.

Yes

Could you be give us a little more info?? Whose car is it??who is making the payments???

You will lose big on the deal......they will take the car and auction it for whatever they can get usually far below market value and they will come after you for the balance.

It is done in time not money i.e. days late.Generally 30-45 days late triggers a repo but they can repo after one day late.

YES! They will get the proper permission they need, because what they are doing is perfectly legal. Contact the lender and work something out. They will get the car sooner or later and you will pay dearly.

yes they are yours.You may have to pay a reasonable fee if and this is a big IF ....the repo co. has cataloged and stored your personal property.

• Generally speaking no. However permission can be implied in many cases. If this person who was driving the car without permission has driven the car in the past with permission you could have a problem. Also anyone living in the household may be deemed as having implied permission to use the car. If the car was truly stolen then the police would need to have been notified.
• In the UK and across the EU - European Union tries to protect the injured party as best is possible and this may mean tracing a claim back to a policy of motor insurance. Thus, even though the owner of the car is not strictly speaking liable - the owner's insurer might have to pay out if the driver does not have the means to pay the claim. See the related link entitled "accident car insurance" to see more about the motor policies which will pay third party compensation in the UK.

No but that does not mean they won't do either. A repo man cannot legally move another vehicle out of the way, but if he can get the car just by driving across the grass, then legally he can and probably will do so.

No one can answer this question. It depends on many factors. Here is a thought. Call the lender and ask them.

Yes, the term is used to indicate a debt being written off as uncollectible by the original creditor. The debt however remains valid and subject to collection by a collection agency working for the original creditor or a third party that buys the account.

Yes but it is costly and time consuming.Why don't you just give it back?

It is not clear whether the bank can or will request the parts that were stripped from a car. However, the condition of the car will affect the resale value. If the bank elects to recover the amount that you owe on the car, it must resell the car at fair-market value, which is often based upon the Kelley Blue Book. If the bank sells your car for more than your loan balance and the costs for the resale, then you would get the difference. If the bank sells your car for less than your loan balance, you would owe the difference plus costs. For instance, if you owe $15,000 and the stripped car only sells for $7,000, then you would owe $8,000 plus costs. This is called a deficiency judgment and is likely in most situations.1

Normally both these vehicles would be on the same inscuance policy. If this is the case, usually the Insurance Company will only have one deductible. With any accident there is a chance that there can be an increase. This would be considered At Fault.

It is also possible that your policy has a clause which EXCLUDES a collision between two vehicles on the same policy.

The person who was driving will be considered at fault for the damage to both vehicles. The collision deductible on the car that was moving would apply to the damage on that vehicle and there would not be a deductible for the damage to the parked vehicle. Rate increases will depend on many variables and will be determined by your individual insurance company's policy.

yes it has a 10 year limit

You are very close to repo time call the lender and explain the situation as to why you are late they usually will work with you.You usually don't get notification of a repo but it depends on your state.

NO. As the cosigner, you are only guaranteeing the loan.