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Repossession
Seizure of property bought on credit for which loan payments are not being received. Please note that when asking a car repossession question, it is often useful to include the state that you live in. This will enable people to give you better answers.
11,694 Questions
Do they have cars and other vehicles in Japan?
yes they do, just like in all modern industrialized countries.
What are the repossession laws in Florida?
The "rules" are what you agreed to when YOU SIGNED the contract.READ your contract again where it mentions DEFAULT. Rule prolly says that when you are in DEFAULT of the contract that your car can be repoed. That would be ONE DAY LATE. BUT most lenders dont want the car, they want the MONEY sooo they give you all the slack they can before they repo.Sorri, but you are on THIN ice now and its melting FAST. It will be a good idea to get your personal property out nOW before it gets repoed and COSTS you to get it back.
Can unpaid bank loan in Kuwait get you arrested in Dubai?
Absolutely! And they will cut off your head and send it home to your dog.
Yo Dawg whats happenin'
And also Werdd, Buggin, Shaggz,Ima Beast, That's OD
Werd is agreeing with someone. Buggin is like an upgraded word for trippen'. Shaggz means like yea right. Ima Beast means that...I really don't know how to describe that. And OD means Overily Dramatic, or Over Dose
Mad= (very, refer to as alot) I'm mad hungry , It's mad hot outside
Set= (house) Imma be in my set all day
Macking= (To relax or to hangout) I'm macking on 156 street
40= (to go crazy , or be wild) She just went 40 on her man
Jawn= (a female) These jawns are boring
Def= (Definately) Im def going to that party tonight
breeze= (to run away quickly) When I saw my ex, I breezed
the boys= (The police) The boys been scoping us all day
haaaaan= (a sound to show excitment) I got stacks haaaaan !
cuffin= (to date or to be a boyfriend/girlfriend) I'm cuffin with Brianna
I'm from the Bronx so this is some of the slang we use.
Where is the best place to stay in Thailand?
There are many good places to stay in Thailand upon the city that you want to stay (Bangkok, Phuket, Chiangmai, Pattaya, or etc.).
Alternative stays off the beaten tourist track may also be arranged in Thailand, and have the advantage of offering you greater interaction with the locals - as well as accommodation that can be much more attractive and interesting than a standard hotel room.
I would suggest this web sitehttp://www.baiyokehotel.comthis is for a middle bracket fellowsbut if you guys are on very tight budget,
try looking for some guest houses in the area called "Khao San Road"
What are the repossession laws for Texas?
As soon as you see its gone, you have been notified. There is NO notice of repo in TX. Sorri, good try I own a cabinet shop and recently built and installed new kitchen cabinets for a man. He paid half of the money before the cabinets were built, now I have them installed, he keeps finding little things he doesn't like about them. I have done all I can for this man, he just doesn't want to pay what he owes on the cabinets. What are my options as far as repossessing the cabinets if he will not pay me?
Where to get application for oap bus pass in Boston lincolnshire?
Colchester Council, Angel Court, High Street, Colchester
Can they come on private property and repossess your motorcycle?
More Information:
In South Carolina, a self-help reposession is considered "legalized stealking" under the law SIMPLY because someone has a business license. That's ALL that keeps them out of jail. The few laws governing self-help reposessions are willyfully flaunted however.
1)A title loan company must send you a copy of the right to cure letter certified mail and give you 20 days to pay up. They argue that the copy of a right-to-cure at the time of loan closure is sufficient. Alot of law enforcement are ignorant of the law and do not intervene. HOWEVER, most magistrates, if contacted in time, will declare it an improper and illegal action WITHOUT a return receipt from a certified letter. It quite frankly ticks the judge off becaue the lender was too trifling to spend the 5 bux or less to have a certified letter delivered.
2)As far as coming on your property. They can BUT MUST call local law enforcement first to let the authorities know the repo man is "working the area". If they don't, then if caught, they can be arrested for Grand Theft Auto.
3) If you catch a repo man about ready to jerk your out of your yard, you tell him to stop., Inform them this will NOT be a peaceful repossession and call the sherriff/cops/highway patrol. Even if he/she has the car in the air, if it's still on your property, YOU CAN hold them at gun point until the authorities arrive. Be forewarned, most Repo Men/Women carry small 22 revolvers nickamed Repo Man Guns. If he/she gets to the street, it's too late. If you shoot into or even at the tow truck, it's a felony in about all states if in the street.
If and when the law arrives, he/she will inform the repo person (if still on your property) to leave your car alone and to leave the property under order of no trespass. However, law enforcements tells (refer to item two above) the repo rep that he/she COULD be legally SHOT by owner oif car under South Carolina law if law enforecement wasn't notified.
4)If you lock your vehicle behind a fence, they cannot break-and-enter. The lienholder must file for a legal repo with the local courts and have law enforcement serve and confiscate the vehicle.
5)They cannot disturb your property or move another vehicle to get the one in question. Unfortunatley, it's done all-the-time.
6)Reposessions are prohibited on most state property. At the local mental handicapped facility in Laurens, SC, some repo men have been caught by the state police and prosecuted BUT continue to flaunt the law
If your car gets repossed, RUN, don't walk to the local magistrate and have him/her issue a restraining order prohibiting the sale of property until a hearing. Make sure you can prove the certified letter was never sent
Bring all papers showing how much you've already paid vs the principle borrowed. Some magistrats, so PO'ed with the title loan sharks, are ordering the return of the vehicle/title by lienholder simply because the poor borrower has already paid double or triple the initial loan prior to reposession
Make sure you have a complete list ready of any AND ALL personal possessions in car. Lienholderrs are supposed to allow YOU, yourself to retrieve articles but some of the really crooked ones here in South Carolina are sending you a carepackaged of stuff THEY removed, often with valuables missing.
So the answer is, if more people, facing self-help reposessions would 1)Be aware of their rights 2)Took action to force their legislatures to BAN self-help repossessions outright, then noone need get "hurt" in the process. Until that time however, use what means "necessary" to force the lienholder to court including the proper exercise of the 2nd Amendment.
Does the state of Texas allow garnishment of wages for a repossessed vehicle?
What is the statute of limitations in pennsylvania?
There are no SOL's concerning the repossession of vehicles in any state. Vehicles are considered secured debt and the loan must be paid either in full, or the vehicle surrendered. If the vehicle is repossessed and sold the deficency between the sale and the loan amount and applicable fees are owed by the borrower. SOL's apply to the time in which a lender can file a lawsuit to recover money owed. Because of new bankruptcy laws and many new state laws being passed, many lenders are choosing not to recover vehicles but to sue for the full amount of the loan. If the lender wins the suit they can collect using wage or bank account garnishment or the forced sale of other property belonging to the borrower.
What are the lender laws in South Carolina for a repossesion?
If you finance or lease a vehicle, your creditor holds important rights on the vehicle until you've made the last loan payment or fully paid off your lease obligation. These rights are established by the signed contract and by state law. If your payments are late or you default on your contract in any way, your creditor may have the right to repossess your car.
Talking with Your Creditor
It is easier to try to prevent a vehicle repossession from taking place than to dispute it afterward. Contact your creditor when you realize you'll be late with a payment. Many creditors will work with you if they believe you'll be able to pay soon, even if slightly late.
Sometimes you may be able to negotiate a delay in your payment or a revised schedule of payments. If you reach an agreement to modify your original contract, get it in writing to avoid questions later. Still, your creditor may refuse to accept late payments or make other changes in your contract and may demand that you return the car. By voluntarily agreeing to a repossession, you may reduce your creditor's expenses, which you would be responsible for paying.
Remember that even if you return the car voluntarily, you're responsible for paying any deficiency on your credit or lease contract, and your creditor still may report the late payments and/or repossession on your credit report.
Seizing the Car
In many states, your creditor has legal authority to seize your vehicle as soon as you default on your loan or lease. Because state laws differ, read your contract to find out what constitutes a "default." In most states, failing to make a payment on time or to meet your other contractual responsibilities are considered defaults. In some states, creditors are allowed on your property to seize your car without letting you know in advance.
But creditors aren't usually allowed to "breach the peace" in connection with repossession. In some states, removing your car from a closed garage without your permission may constitute a breach of the peace.
Creditors who breach the peace in seizing your car may have to pay you if they harm you or your property.
A creditor usually can't keep or sell any personal property found inside. State laws also may require your creditor to use reasonable care to prevent others from removing your property from the repossessed car. If you find that your creditor can't account for articles left in your car, talk to an attorney about whether your state offers a right to compensation.
Selling the Car
Once your creditor has repossessed your car, they may decide to sell it in either a public or private sale. In some states, your creditor must let you know what will happen to the car. For example, if a creditor chooses to sell the car at public auction, state law may require that the creditor tells you the date of the sale so that you can attend and participate in the bidding. If the vehicle is to be sold privately, you may have a right to know the date it will be sold.
In either of these circumstances, you may be entitled to buy back the vehicle by paying the full amount you owe, plus any expenses connected with its repossession (such as storage and preparation for sale).
In some states, the law allows you to reinstate your contract by paying the amount you owe, as well as repossession and related expenses (such as attorney fees). If you reclaim your car, you must make your payments on time and meet the terms of your reinstated or renegotiated contract to avoid another repossession.
The creditor must sell a repossessed car in a "commercially reasonable manner" - according to standard custom in a particular business or an established market. The sale price might not be the highest possible price - or even what you may consider a good price. But a sale price far below fair market value may indicate that the sale was not commercially reasonable.
Paying the Deficiency
A deficiency is any amount you still owe on your contract after your creditor sells the vehicle and applies the amount received to your unpaid obligation. For example, if you owe $2,500 on the car and your creditor sells the car for $1,500, the deficiency is $1,000 plus any other fees you owe under the contract, such as those related to the repossession and early termination of your lease or early payoff of your financing.
In most states, a creditor who has followed the proper procedures for repossession and sale is allowed to sue you for a deficiency judgment to collect the remaining amount owed on your credit or lease contract.
Depending on your state's law and other factors, if you are sued for a deficiency judgment, you should be notified of the date of the court hearing. This may be your only opportunity to present any legal defense.
If your creditor breached the peace when seizing the vehicle or failed to sell the car in a commercially reasonable manner, you may have a legal defense against a deficiency judgment. An attorney will be able to tell you whether you have grounds to contest a deficiency judgment.
What are the repossession laws in Oklahoma?
Oklahoma TITLE STATE: Yes SECURITY INTERESTS: Shown on title held by debtor. LICENSE REGISTRATION: Oklahoma Motor Vehicle Division, 2501 Lincoln Blvd., Oklahoma City, Oklahoma 73194. Tel.:(405)521-3221. RECOVERY REQUIREMENT: As per UCC, repossession allowed without committing a breach of the peace. DOCUMENTS REQUIRED FOR PLATES: Remain with the vehicle. lsb.state.ok
How many months can the bank reposession your car in New York?
It usually will take up to 2-3 months, they will call you with several options to see if there is anyway to figure a way for you to stay in the car.
The following information came from the NC Dept. of Labor website. Wage garnishments are legal in North Carolina if a North Carolina court or federal court issues a court ordered garnishment for specific items such as, but not limited to, taxes, student loans, child and spouse support, and payment of ambulance services in certain North Carolina counties. The North Carolina Wage and Hour Act (WHA) recognizes legal garnishment court orders in N.C.G.S. 95-25.8(1): "An employer may withhold or divert any portion of an employee's wages when: (1) The employer is required or empowered to do so by State or federal law, ..." Generally, wage garnishments by banks and loan institutes for car loans, credit card debt, and other personal debt items are not legal in North Carolina.
Can unpaid bank loan in Dubai get you arrested in the Europe?
as far as the law in the uae is concerned, their laws are not applicable in the Philippines. international bank in the uae are franchised therefore are not owned by the same company in the Philippines. loans in the uae are insured. and do not entertain these bill collectors because they do not turn over the collection to the bank that's purely harassment. we know it we've been there. and we've done that. just be ready to protect yourselves and prepare for the worst. don't forget that you can always carry a gun in the Philippines legally, and if somebody enters your house claiming to collect unpaid debts from any bank in the uae and become a threat to you or your property you can always shoot them facing you, no sweat. after all your gun is licensed within the perimeter of your residence.
What are the laws on auto concealment in Texas?
Under Texas law if you meet the "requirements", then you can carry it "on or about his or her person".
This means on your person or near enough to you that is is within easy reach. If you do not meet the "requirements" then you can not carry it on or about your person. Ie. in the trunk. Glove box would be considered on or about.
The requirements mentioned above to be able to carry a handgun on or about your person in your vehicle without a license are:
1 it must be your vehicle or a vehicle under your control
2 it must be concealed
3 legally able to possess the handgun
4 not committing any crime other than class c traffic
5 not a member of a street gang
What are the California laws on car repossession?
See related links for more information.
CHAPTER 11. REPOSSESSORS Article 1. General Provisions ............................... 7500-7500.3 Article 2. Administration ................................... 7501-7501.8 Article 3. Application of Chapter ........................... 7502-7502.6 Article 4. Licenses ........................................ 7503-7503.14 Article 5. Examination ...................................... 7504-7504.7 Article 6. Offices .......................................... 7505-7505.5 Article 7. Registration .................................... 7506-7506.14 Article 8. Conduct of Business ............................. 7507-7507.13 Article 9. Prohibited Acts and Citations .................... 7508-7508.6 Article 10. Disciplinary Proceedings ........................ 7510-7510.4 Article 11. Revenue .............................................. 7511
Texas
TITLE STATE: Yes SECURITY INTERESTS: Shown on title held by lien holder. LICENSE REGISTRATION: Texas State Department of Transportation, RECOVERY REQUIREMENT: As per UCC, repossession allowed without committing a breach of the peace. DOCUMENTS REQUIRED FOR LIQUIDATION: Repossession affidavit (D12-264) if Texas title; out of state repossession affidavits accepted. PLATES: Remain with the vehicle.
Below is an excellent FAQ page detailing repossession laws. It mentions a repo man does not need a license to operate in Texas, but does in Florida. I imagine California requires licensing as well. The first thing to do if your car is repossessed is call your local police department and ask if your car was repossessed, they will have a listing of what cars were repossessed and if yours is on it, the police department will tell you who repossessed it (the dealer, bank, finance company, or private repossesser) and a phone number for contact.
For example, my car was repossessed this morning, I called the local police, and they confirmed the dealer had taken it. I am only a week and a half behind, but that's all it takes.
www.pimall.com/nais/n.repo.htm
What are the requirements in the state of Arkansas to get emancipated?
you must beable to show in most states that you have a legal source of income, and a stable place to live, along with your parents permission(but im trying to find ways because parents can be awesomely stubbon saying there is no reason, and that "we" are the problem)and that it would be in our best intrest.
Can you get a repossessed car back?
As you likely know by now, the lender has the right to accelerate the balance due when the car is repoed. Usually this is upon the 2nd repo or after X number of times in DEFAULT (late payments). It is at the lenders option. Read your contract again. It should be found where it says DEFAULT.
How many people own a car in Mexico?
Literally, thousands. Mexico has reached an economy of scale for the automobile industry, whereas large corporations (Honda, Nissan, GM, Volkswagen) purchase vehicle parts to local OEMs and assemble everything themselves to deliver a full vehicle.
How do you get a piercing license in California?
Well first you need to have training in the art of body piercing, this isn't some over the Internet course, it needs to be verifiable training that can be confirmed and it should be under the supervision of a licensed and experienced professional body piercer. Once you have the required experience and actual hands on practice doing piercing, you need to apply for a business license through your city hall business licensing department.
They will provide you with a list of requirements that need to be met in order to be able to apply for a license (this application will also include an application for a health inspection ). If you complete the application and meet the requirements you will then need to pass the health inspection (this is the most difficult part of the license process and the inspector will test you on various aspects of your profession so you better really know your stuff).
If you pass his/her inspection the city will issue you a business license. Now you need to know that you will need to have a location to work from (most city business licenses for body piercing can not be issued to work from your home). The location must pass building code requirements, zoning requirements and health inspection requirements. There is much more to body piercing that just poking holes. You may (most place now require it) be required to have first aid certification and CPR level C as well as Blood Borne pathogens training as well as your vaccinations for Tetanus and Hepatitis.
