0
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
Who is responsible for a ticket for expired registration if you are driving an employers vehicle?
The employer would be responsible especially if you were driving for work purposes.
If you sell a car and you owe the creditor do you have to pay them the amount the car was sold for?
If you sell a car you owe a creditor a balance on, you pay the creditor the amount you owe him in order to get the title to the vehicle to turn over to your buyer.
Anything over the balance owed to the creditor is yours to keep, assuming you sold it for more than you owed on it.
If you sold it for less than you owe on it you will have to pay the additional amount out of your pocket to get the title.
A dealership will charge more (I work at one), but it will likely be done RIGHT. Especially if you take it to a Chevrolet dealer! We've been taking our truck to Bill Heard and they have no record, as of today, on repairs done last month and in the past. The same problems have been repaired there more than once. Something else always happens after we've taken it in to the Bill Heard Repair Center. The truck is Diesel and it's one year old. I don't think we should be having so many problems. Our present problem is the speedometer not working. Don't know where to take it for repairs. If the dealer can't take care of the problems, then who should you trust? Take it to a GMC DEALER that DOES NOT also sell PONTIACS. They usually are more aware of the problems with TRUCKS and only work on them. Before I take mine to the local Chevy parts changer, I give the local Pontiac guys a shot at mine. More often than not(better than 90%) They listen(always good), can/will READ my trouble shooting list, and will discuss problem/go for a test drive BEFORE putting it on the analyzer. If your dealer looks at you like you have 3 heads when you bring in a trouble shooting list, RUN don't walk out the door and go to another dealer/shop.
EX can assume the loan with the LENDERS permission ONLY. Son can "give" her the car in divorce but you and he are STILL RESPONSIBLE for the payment of the loan. If she wrecks the car while it is your and sons name, you and he will get sued also. Have the lender repo the car OR YOU assume the loan in your name only and get possession. TALK to the lender about this for better advice. ---- Make sure that it is mentioned in the divorce papers, and who makes the payments if it isn't paid off yet. ----
No. A vehicle cannot be sold without a clear title and the only way to obtain such a document is through the lien holder.
Does a car sold in Manitoba require a block heater?
Yes it does - especially if its being sold by Focus Hyundai!
If your car was repossessed seven years ago can the collection agency start coming after you now?
YES. Judgements are usually sold when the first SOL expires and a new CA starts all over.
NO THEY CANNOT come after you after 7 years UNLESS they began court action after about 6 years. Then they could take you to court but they must have begun litigation prior to the 7 year hold date.
All debts except for college loans, and criminal fines have a 7 year statute of limitations. College loans can be collected for the rest of the life of a person. Criminal fines I believe have a similar policy. All other debts and loans have a 7 year limit of being able to collect.
What does it take to become a repo man in California?
One good way to get into the repossession business is to go to a school. However BEWARE - most schools, classes, and courses you see advertised are actually Online or "Read-a-Book" type programs. I would suggest looking for a real repossession school taught in a real classroom by experienced repossession professionals. There are very few out there, but if you look hard enough you can find one. Try Midnight Express Recovery Agent School: They provide training in all aspects of repossession including preparation for the CARS (Certified Asset Recovery Specialist®) test and certification.
But first before you even think about becoming the repo man, you must have a valid cali license, no felonies, and be able to pass a back round check.
You can get your start by going online and doing a search for local repossession companies, and most of the times you will find phone numbers of these repo agencies. Call them up and ask if they are hiring
Or, next time that you see the repo man in his tow truck, ask him if their companies hiring, I have given my bosses number to many people that ask. You can tell the difference between a repo truck and a regular tow companies truck because repo trucks have no writing or phone numbers, or company logos painted on the truck.
The best way to get hired is of course knowing somebody in the industry. a few things to note about this profession. ......
#1 - It's not for the faint of heart, it is very dangerous work. Be prepared to deal with absolutely erratic, angry, hostile people. And their angry hostile pet dogs. Also it is a very real possibility that people will pull out guns or knives,and base ball bats and attempt to use them. It helps to know how to talk reasonably with people instead of insulting and degrading them , that is the difference between a repo man getting shot and a repo man staying alive
#2 - Be prepared to work crazy, late night hours
#3 - You get paid on each car you repossess, no steady pay
#4 - Having a knowledge of cars and transmissions is a plus, knowing how to tow different types of cars is very important.
Good luck , just know that the repo man works his butt off, and everybody hates you, but there are benefits to this type of work. After doing repossession, there is no other job that will seem too hard or impossible to do. If you thought that you have seen it all, your in for a surprise. Be aware of your surroundings , be moral, and use common sense.
Can you take over a car payment without going through the bank?
You must have approval from the lender in order to take over the payments on a loan.
Can you get your car out of the impound lot without paying.?
No. Tow charges and all applicable fees must be paid before the vehicle will be released. If the matter is not resolved in the time specified, the state's law may provide for the vehicle to be auctioned by the state or repossessed/sold by the lender and the borrower remaining responsible for all outstanding debt incurred including the loan agreement.
How can i sell a car to someone and have them take over my current payments?
they h ave to get a loan to pay off your loan and free up the title and then it will be in their name.
It is paid to the estate of that person and is used to pay his unpaid debts or given to his heirs.
Bought a car two days ago but today i found a dent in it what can i do?
If you did not do a walk around visual inspection of the vehicle then it's probably your problem. Once the vehicle leaves the car lot or sellers possesion it's your responsibility. There's no way to prove the dent occurred before you took ownership.
You need a lawyer. Try a Public Defender. Sorry about the judge, man.
Are right to Cure letters required to be sent via certified mail?
I would say, YES, just so the lender will have proof, they sent them. There is no guarantee the debtor will get them, just that they were sent.
Can someone become a repo agent if they have a felony conviction?
Not impossible, but difficult. Most states dont regulate background checks, BUT, insurance cos. DO. Liability for the ins. co.
If you car is finance, there is a lien against it by the bank or loan company. This Lien will have to be removed, which means that the balance owed on the vehicle has to be paid in full in order to get a clear title to sell the car.
You are "upside-down" on your car loan ... where you owe more than it is worth or can be sold for. You need the permission of the loan company to sell the car ... you can't sell it without the title, and the company that holds the title (aka pink slip) also holds the note for the loan that you are paying back monthly. You will need to pay the balance of the loan regardless of what price you could sell it for. In this case, you will be handing over a large sum of money just to sell the car ... best thing to do is just keep it.
How much would you have to owe in medical bills before you are sued?
From my recent expierence of being sued by the collection agency of the hospital we owed money to, there are a few answers to this question. The following are two things I learned from our expierence.
1) They will go after you for any amount over $500.00, but I would not put it past them to go after you for any amount owed. I would guess this depends on the court they want to take you to and if the court requires a minimum amount such as in small claims court, and if the collection agency has lawers on staff. Ours did and they went after us, despite the fact that we made faithful payments and could not afford to pay the full amount ($760.00) in the time that they demanded.
2) If you own a house, have any sort of income, and can not prove financial hardship they will go after you. I thought that owning a house was the American dream, but if you have assetts, they will go after you and turn your life into the American nightmare. The collection agency will do an analysis of your situation and determine if you have assets they can salvage for their client. They can't take your home, but if they sue you and they can have your wages garnished, or put a lien on your home.
3) My best answer to this question is to seek legal advice from a lawyer who is familiar with the laws in your area. If possible try to negotiate with the hospital on your bills. If they allow you to have a payment plan, stick to it and do not make any late payments. Your one late payment could send you to collections.
If bothe names are on the title then no. If its just your name then yes. If the bank has the title then call them about it. In my experience its a huge pain in the ass to sell a car with a lien on it. Trust me.
If it is a title and the other person signs off on it then yes. If you are trying to sell the car without the other named person whether it is a title or registration then no.
If you trade a car and change your mind do they have to give it back?
not really
coz u already traded it and they might NOT hav changed their mind
anway gud luck
:D
How do you become a repossion agent in west Virginia?
In order to become a West Virginia Repossession agent, training is required at an accredited school. Some states require licensing, so a test may be required, and experience working in a related field of real estate may be required to test. After a surety bond and state licensure, a tow truck operator CDL license are also required.
