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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

Can a cosigner take possession of a car if the primary signer is not paying the payments?

Yes. I believe the loaner will contact you with a past due amount, or send you a bill. If this hasn't happened yet, contact the loaner and tell them you want possesion if the car is not being paid for by the buyer. * No. A cosigner has no legal right to a vehicle unless his or her name appears on the title. The cosigner will have to make the payments to keep the vehicle from being reposssesed or have the vehicle refinanced in his or her name with the primary borrower being released from the current agreement, this can only be done if the lender agrees.

When you marry someone who has filed bankruptcy do you also take on the bankruptcy?

There is no real problem here as bankruptcy has to do with individual debts between the debtor and the creditor so you should not be affected by your fiance's bankruptcy. Also, because you will only be gaining community (or shared property) after being married that will not be available for debtors to get nor will any of your individual funds/ assets.

If you file a joint return after marriage , you file as an " injured spouse ". That way if any debts are back child support or support increases or IRS liability , your income should not be considered in most states. Consult a real lawyer before you get married to be certain of all this info .

What are the laws concerning cohabitation in Florida?

http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=Ch0798/ch0798.htm

illegal. rarely prosecuted, but still illegal. It falls under either "Lewd and Lascivious" or "Open Adultery", which are 2nd degree misdemeanors, punishable by up to 60 days in jail or up to a $500 fine.

Florida is one of five states that as of 2009 still outlaws cohabitation. Generally, in states where it is illegal to cohabitate, it's tolerated as long as neither party is in legal trouble, ie probation, etc.

Reposession laws in Virginia?

2011 Code of Virginia

Title 6.2 FINANCIAL INSTITUTIONS AND SERVICES.

Chapter 22 Motor Vehicle Title Loans (6.2-2200 thru 6.2-2227)

6.2-2217 Limited recourse; repossession and sale of motor vehicle.

VA Code § 6.2-2217 (2001 through Reg Session)

6.2-2217. Limited recourse; repossession and sale of motor vehicle.

A. Except as otherwise provided in subsection E, a licensee taking a security interest in a motor vehicle pursuant to this chapter shall be limited, upon default by the borrower, to seeking repossession of, preparing for sale, and selling the motor vehicle in accordance with Title 8.9A. Unless (i) the licensee, at least 10 days prior to repossessing the motor vehicle securing a title loan, has sent to the borrower, by first class mail, written notice advising the borrower that his title loan is in default and stating that the motor vehicle may be repossessed unless the principal and interest owed under the loan agreement are paid and (ii) the borrower does not pay such principal and interest prior to the date the motor vehicle is repossessed by or at the direction of the licensee, then the licensee shall not collect or charge the costs of repossessing and selling the motor vehicle described in clause (ii) of subsection D of 6.2-2216. A licensee shall not repossess a motor vehicle securing a title loan prior to the date specified in the notice. Except as otherwise provided in subsection E, a licensee shall not seek or obtain a personal money judgment against a borrower for any amount owedunder a loan agreement or any deficiency resulting after the sale of a motor vehicle.

B. At least 15 days prior to the sale of a motor vehicle, a licensee shall (i) notify the borrower of the date and time after which the motor vehicle is subject to sale and (ii) provide the borrower with a written accounting of the principal amount due to the licensee, interest accrued through the date the licensee took possession of the motor vehicle, and any reasonable expenses incurred to date by the licensee in taking possession of, preparing for sale, and selling the motor vehicle. At any time prior to such sale, the licensee shall permit the borrower to redeem the motor vehicle by tendering cash or other good funds instrument for the principal amount due to the licensee, interest accrued through the date the licensee took possession, and any reasonable expenses incurred by the licensee in taking possession of, preparing for sale, and selling the motor vehicle.

C. Within 30 days of the licensee's receipt of funds from the sale of a motor vehicle, the borrower is entitled to receive all proceeds from such sale of the motor vehicle in excess of the principal amount due to the licensee, interest accrued through the date the licensee took possession, and the reasonable expenses incurred by the licensee in taking possession of, preparing for sale, and selling the motor vehicle.

D. Except in the case of fraud or a voluntary surrender of the motor vehicle, a licensee shall not take possession of a motor vehicle until such time as a borrower is in default under the loan agreement. Except as otherwise provided in this chapter, the repossession and sale of a motor vehicle shall be subject to the provisions of Title 8.9A.

E. Notwithstanding any provision to the contrary, upon default by a borrower, a licensee may seek a personal money judgment against the borrower for any amounts owedunder a loan agreement if the borrower impairs the licensee's security interest by (i) intentionally damaging or destroying the motor vehicle, (ii) intentionally concealing the motor vehicle, (iii) giving the licensee a lien in a motor vehicle that is already encumbered by an undisclosed prior lien, or (iv) subsequently giving a security interest in, or selling, a motor vehicle that secures a title loan to a third party, without the licensee's written consent.

(2010, c. 477, 6.1-497.)

How do you remove lien from vehicles?

Pay the bill to bring the account up to date, including any penalty or advance collection and fee indicated in the default notice. The creditor will then be responsible for releasing the lien once the debt has been paid.

Can a cosigner take the primary borrower to court to get possession of the car that the primary has not made all the payments?

Both the finance company such as G.M.A.C. or Ford Motor Credit keep record of the key codes in a folder on the sale. Contact the finance company, get the key codes, go to the selling dealership where the service department can cut the keys for about $5.00. If the vehicle is in default, the finance company should repo it and you could redeem it from them. There are laws that differ from state to state on repossessions and law enforcement officials must be notified prior to repossession so the vehicle will not be reported as a theft. I suggest you get current advice from the finance company first, because the primary could bring the account current without your knowledge and if you repo it when it's not in default or break any state laws, you could get sued.

What happens when you are unemployed and the bank wants to repossess your car?

They send a collection co. out who picks up your vehicle. Not sure if the point of this question is to find out if it is fair for them to take you car while you are in a financially bad position. The fact of the matter is everyone will run into situations at times that will not allow them to make payments on loans they have promised to pay. Most loan officers have programs in place to assist in these "short term" times of need. Ask your bank to defer a payment or two. There is often other things like making half payments for a period of time. Running and hiding and not returning their calls is what causes me to come to your house and take you car. It's a human reaction that people need to be educated against. Sorry to hear your out of work. Another job will come along and in time you will get back on your feet. Just stay in constant contact with all your bill collectors. Let them know your situation and ask them to work with you. If they refuse then I would suggest as soon as you can refi with someone else with half a brain.

Do you need a license to title a car in your name?

Technically, no. But, this will vary from state to state. Most states do require a driver's license to register a car, but not to transfer title. Transfer of title is typically required within 10 to 20 days of receipt, so they cannot prevent you from titling as well, in most cases - but they can prevent you from registering.

How do you change the executor of a will?

The individual has his or her will amended to show the new named executor or executrix. The amending will need to be witnessed and notarized (preferably) in the same manner as the original document, but not neccessarily by the original witnesses.

An executor or executrix who has been appointed by the probate court or was named by the testator (testrix) must be relieved of the responsibility through the court.

How can you file a bankruptcy and not lose any money in the bank?

Why are you filing bankruptcy if you have money in the bank? You are entitled to exemptions, which may include some money in a bank account. The amount you may exempt will depend on whether your state has its own exemptions or allows you to use the federal exemptions.

How long should you wait after you get your lawsuit to file bankruptcy?

Winning a lawsuit will have no impact on your ability to file for Chapter 7 bankruptcy. If you are a judgment creditor, the judgment might become an asset of the bankruptcy estate and the bankruptcy trust might choose to sell the judgment or enforce the judgment for the benefit of your creditors..

if someone files bankruptcy on as credit card does that a third party has charged on and the debt is cleared dose the third party continue paying for a debt that is no longer there

How politely refuse gift?

It depends. If someone goes out of their way to buy you something, especially for you, and tries giving it to you, you should take the gift and thank them. If you were to say no to them and tell them to go get their money back, that's kind of humiliating on their part. But if they try giving you something such as money, then yes, it is okay to tell them politely that you do not wish to take their hard earned money.

Are you allowed to retrieve personal property from a repossessed vehicle in North Carolina?

Yes, the business where the vehicle is located must allow the retrieval of personal items from the impounded vehicle, and is required to keep those items secured until they have been returned to the legal owner or the court rules otherwise.

If someone owes you money can you put a lien on their car?

Yes you can! There are certain steps you can take, just make sure to follow the laws and regulations of your state.

1. Locate the signed work order of the customer.

2. The customer has a "reasonable" time to pay. You have to wait for the period to expire before you file your claim.

3. Get the proper form which can be located at your state government's website.

4. Send the customer a certified letter stating that repayment couldn't be arrange.

5. If there's no response file the lien where in the county where the car's located. The county clerk can help you with filing.

If the customer doesn't response to the affidavit the court will set a hearing date. If the customer doesn't respond to the court, a lien will be issued.

Best of luck to you.

A lien can be filed without the necessity of a lawsuit judgment only if it pertains to work done on the debtor's property, such as improvement of a structure or repairs on a vehicle. Such liens are referred to as Mechanic Liens.

The party wishing to partake in such action can file in his or her own county and if the lien is found to be valid it will be attached to the property designated even if that property is not located in the same jurisdiction. Such action is known as a "foreign judgment/lien".

Although court clerks can supply the necessary forms and other general information relating to how to file the complaint they cannot assist the person in any other manner. They cannot offer advice or opinion on the matter in question.

How long to have to register for new plates?

at the end of the month shown on the sticker on your license plates

What does it mean for a bankruptcy to be dismissed?

"Case dismissed" means the same as any other time you hear it. Dismissed means that the case has no merit or means to go forward and that charges (in this case, the charge of bankruptcy) can not be proven or declared. The bankruptcy was not granted.

How much do repossesion agents make?

Based on the ones I know,$45-65 K per year. that will vary by region and other factors.

Its really not that much actually anywhere from $125.00 to $325.00 depending on how much time you have to spend looking for the car.Most of the time its the gas running around trying to find the car and find where its hidden.A lot of upfront cost out of your pocket.

When can you sue for breach of promise?

In most states you can not sue for breach of promise to marry. In the states that breach of promise to marry is covered under tort law and breach of contract, you can sue for financial damages.

Do you still pay rent if you file for bankruptcy?

Yes, you still pay rent, because being bankrupt does not entitle you to free housing.

Does a finance co have the right to repo your vehicle if impounded by police?

Absolutely. Here's the thing of it - as long as they hold a lien on it, it is not YOUR vehicle - the finance company is the sole legitimate owner of it until you pay off that lien.

When a vehicle gets impounded, there's a limited window in which it can be reclaimed before they auction it off - the priority of the state collecting on a debt outweighs those of private institutions, and they can sell the car with the purchaser being free and clear the moment they buy it and effectively break the finance company's lien on the vehicle. The finance company isn't going to be keen to let this happen, and will take steps to ensure that it doesn't, including repossessing a vehicle they fear will be lost in impound.

Can you legally tow a car with your vehicle?

Depends on the state. Hawaii? Yes! Aloha. Answer 2 Varies from state to state. Typically you can tow anything that your license class will allow. Higher license classes allow for more towing capability obviously. Also, you are required to "properly secure" all connections prior to departure and not tow anything that exceeds what your own car can handle. Also, you are not to tow anything so heavy that it can interfere with the handling of the car that is doing the towing.

Can an employer terminate an employee after they file bankruptcy?

In at will employment states, yes. In these state, an employer can fire an employee who has tuna for lunch instead of ham. They need no reason to fire you. In all states, if you are employed in a position where you handle money, accounts, or are required to maintain a certain level of responsibility, then yes. The bankruptcy demonstrates for the employer that you have a certain level of irresponsibility in your life, and can terminate your employment, especially those employers who obtain a credit report on you prior to your initial higher.

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