Repossession

If the contract states that getting arrested is a breach, yes. Or if getting arrested prevents the arrested party from performing its contractual obligations the inability to perform may be a breach. Or if you consider an employment contract, the arrest of an employee for a position of trust may be an implied breach, but it may be unfair to terminate (as opposed to suspend) unless the arrest actually led to a conviction.

There are only 5 states that require an agent to be be licensed. Look at the link on the right.

Well, the repo company takes the repossessed vehicle to a storage lot or auction house, where it's stored for a period of time. Under state law, the repossessed vehicle must be sold in a "commercially reasonable" manner. You must be given reasonable notice of the date, time and place of the sale, which has been interpreted to mean no fewer than 10 days after the date you were given notice of the sale, at the last known address the lienholder had for you. Now, they only have to mail the letter, not see that you get it. So, for this purpose you would always want to pick up your mail, it's usually sent certified mail, so that you know what's going on. The notice is good if mailed, whether or not you pick it up from the post office. The lienholder is also supposed to give notice to anyone else who signed on the contract, such as a co-signer.

Now, this notice of the sale is intended to give you an opportunity to "redeem" the vehicle, that is raise the money to get it back. Almost without exception, a bank or finance company, whoever has repo'd your vehicle,will insist upon you paying the full amount of the debt, plus all expenses of repossessing and storing the car, to get it back. Depending upon your circumstances, you may want to try to borrow the money from a friend or relative to redeem it, have the friend or relative co-sign a new loan for the vehicle for you to get the car back, or find another way to come up with the money. The repossession can be reported on your credit report for 7 years. If you redeem the vehicle, that fact also shows on your credit, and I would think make it look somewhat better.

If you can't (or won't) redeem the vehicle, and you do nothing else, such as file bankruptcy, then the vehicle will be sold, typically at auction, and the proceeds applied to the balance due on the loan, and you still owe the difference between what you owed on the loan, and what the vehicle was auctioned for, and this often is not anywhere near what you could sell it for. Also, the lender tacks on all the costs of repossession, storage and sale fees, etc., etc.

YES! Remove your license plates and place something on the dash to cover the VIN #. They can't take your car without verifying the vehicles VIN. However this is only going to buy you a little time. They WILL get the car. Your best bet is to make sure your insurance is paid up, torch the car and report it stolen, otherwise you'll get stuck paying for a car you don't even have. That's right, the bank is relentless and they WILL come after their money, even to the point of garnishing your wages. Legally they may only come on the loanee's property but they may not enter any structures on the property.Anyone elses private property is off limits but that doesn't mean they won't try. If MS subscribes to the UCC, then yes.

Yes

yes it was when they brought the bell the hammer cracked the bell.

Can a lender repo your car if you have a clear title with "0" lienholder? YES, its called a "Perfected Security Interest".Can a lender put themselves on a title as lienholder without your knowledge?":Not likely, I've never heard of a lender trying it. How would they know your VIN on your car unless you borrowed MONEY against it? Do you think they just pick a random number and decide to put a lien on it?? NOT. No candy for you today. Merry Christmas

Roosta, I like reading your replies. Shows you have a good sense of humor. this, if you have clear title, no lienholders, how can they repo the vehicle and sell it without the title.Now I was told the title is legal possession and no one can put themselves on as leinholder without any paperwork from the owner.Now the lender stated this was an unsecured loan and it needs to be secured by going to DMV, paying $40.00 and list them as lienholder. This was not done. My contract with the dealer states I paid cash for the vehicle. I have not been late for 2 years and could well afford the car when I bought it. I have a chronic illness, and lost my job. I have no income and was living off my savings. Still waiting for SS which takes forever. I asked the lender for an extention on the loan for just a few months and they refused. They want the car. The repo man has been around but the car is in a locked storage building. I plan to file bankruptcy when the money comes in. I have always paid my bills and was responsible with my credit. I bought my own house which I am also 5 months behind, but are willing to work with me as I have owned the house for 11 years and not once was I late on any payments. Two lawyers cannot even answer the question. How can they repo the vehicle and sell it without the title or them listed as a lienholder?

The car is not being driven as I had to drop the ins. on it as I could not pay that either. I wouldn't take a chance like that, but I have to protect the vehicle since there is no ins.I am between a rock and a hard place. I am not a deadbeat, just trying to hang onto what I've work so hard for. The money will be coming in, just not as soon as I would like it. I live in the NE and also doing without heat. I've always worked for what I had and don't expect handouts.I hate to see people calling others deadbeats when certain situations are unforseen. We never know what the future holds.So you repo guys out there, have a heart and just be nice when you have to pick up a car. You shouldn't get a thrill out of someone else's heartache.

The State of NY does not regulate the licensing of title insurance producers. Therefore you can set up as a title insurance agent by creating your company structure (Corp, LLC, etc.) and speaking with a Title Insurance Underwriter to sign an agency agreement with them. Once that is arranged, you would move forward as in any business: * Identify your business location

Hire Key Staff for title examination and policy work

Set up your searchers

Purchase or Lease Title Production Software

Purchase your Errors and Ommissions Insurance

Market your services, etc.

In order to become a Notary in the State of NY, which will be required if you will be closing loans directly, needing acknowledgments and notarizations, you do need to take the NY Notary course and pass it to obtain your NY Notary Commission.

Legal aspects of file sharing

Jan 8, 2009: From http://www.marylandmva.com/VehicleServ/REG/NewtoMd.htm As a new resident of Maryland you must register your vehicle within 60 days of moving to Maryland.

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For the source and detailed information concerning this subject, click on the related links section indicated below.

Yes if they call the cops on you because you are on their property you can and will go to jail because it is called Trespassing.

Just want to know what is a replevin bond in relation to an insurance policy.

Not without going to small claims court, and then going back to court after a time, and maybe again, etc. After all that they probably will have moved it sold it, whatever. Might be better just to demand that it be removed from your property, then, at least you won't have to look at it. They sound like squirrels (sp?) and they may just abandon it anyway.

You would call the court that issues such "replevins" and ask them. What does it matter if a court order has been issued?? You will return the car ASAP, wont you?

no just asking it sound like u are for the repo man

unlawful concealment is having something such as a gun or drugs hidden in your car without having a lincense for it

You can call her to come pick it up in a certain amount of time or you will have it towed away. Towing a car (even if it's family) that is parked there without permission can be legally towed.

I am in the business and havent heard of it yet

No. That would be illegal, unless you give the lien holder permission to do so. Which is never, ever in your contract. The only way they can track you through some kind of device would be to give it to you someway, like through the mail, and have you accept it, then carry it with you. They would never go through that trouble though, they would just wait for you to leave. If your car was going to be repossessed, but it was in your garage where they can't legally enter, they would just wait for you to leave, then take it.

They also don't even have the technology to triangulate your cell phone, and for a lot of reasons, like legality, and expenses. They could try working with Law Enforcement, but they probably wouldn't get much help from the Police... If they can't get to it legally, they have to take you to court and sue you. That's the only way.

NO, a repossession is a repossession, voluntary or not. And what you are contemplating is a voluntary repossession. It will stay on your credit report for 7 years. Very bad idea! When 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.

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READ your contract. It should deal with that issue. If you meet the conditions set forth by the contract, YES, they can refuse.

Yes. Your question does not make any sense, but yes. A warrant for your arrest can be signed at any time with sufficient cause. A better question is why do you think your getting a warrant and how is it related to this vehicle. You filed under repossession, and to my knowledge you cannot get a warrant for hiding something from being repo'd. They are separate schools of law, the repossession being under a breach of contract between you and the loaning institution (contract law I think its called), and a warrant would be regarding criminal law.