Repossession

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.

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.