Repossession

Bobby, look at your contract. It likely covers what fees they can charge. The repoman charged the bank, the bank charged you. It all went on your account. The repoman had to get paid for coming to your house, right? We dont work for free.

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.

Yes. The lender can sue you also for fees, costs, and penalties incurred in the attempt to recover the debt.

18% is the highest rate that a car loan should be. I am pretty sure that that is a government regulation. I know that there are loop holes in any system. So yest 29 percent would be too high but in some cases you have to do what you have to do.

The lender will expect you to pay the deficiency which is the difference between the amount owed on the loan and the amount they get for selling the car.

Federal judgments are generally valid for ten years from the date they are docketed.

i had a faded paint job looked like the clear coat turned gray even after washing i got that nu car finish didnt help went back to gray even wax and a buffer didnt last long so i got an empty bottel sprayed some wd in it like 1/4 inch added charcol light and armorall and the nu finish shock it up rubed in with damp spounge let hase and rubbed off not to easy removal but really shines....i didnt even know i had silver flake in my paint been looking like new paint for a month all i use is rince for a month lol

Yes, at least for a short time. But you will have to pay what you missed and borrowed in order to keep it.

NO! Not without a court order granting them that action. Taking anything that was not covered in the contract would be conversion.

Only if you get caught you can.

Most states have no statue of limitations on this. Contact your state attorney general for advice.

You may file a voluntary petition and save a significant amount of attorney's fees. If your case is a bit more complex, make sure you seek the advice of an attorney. However, if you comprehensively complete all of your forms, which includes all of your schedules (forms may be found on district court websites). There is also some software options to assist you in filing your bankruptcy. I recommend using "Citizen Legal Source Bankruptcy Software" it's an easy to use software for filing both chapter 7 and 13. For Chapter 11's I would recommend sticking with an attorney. I've included the link below for easy filing for do it yourselfer's. With the software from the link below you can pay about $50 instead of like $3500 for an attorney. In fact, the software company has many guarantees so if you don't like it or your paperwork isn't accepted they will refund your money and your court costs. At which point you can than work with an attorney. Hope this helps. You can read their guarantees and software info on their site.

Chapter 7&13 Software for do it yourselfer's:

http://077b76nbvfgu5v6d32a69x0y51.hop.clickbank.net/

Check in with the licensing board of California to see what the restrictions may be. Just getting into school does not mean that you will be able to obtain a job afterwards. For that reason, check work availability before spending your training money and time on schooling.

Not enough info. Where is the car? Have you hidden it? Are you preventing the rightful owner from getting it back (repossessing it)? If so, you can be charged with auto theft.

I don't know what you mean by "caused" it, but if you signed the loan papers or signed as a co-signer, you most likely can not get it off. If it was not your debt and you didn't sign anything, you can write a letter to the credit bureau and tell them that you are disputing it and you want it taken off your credit report. If within 30(I think) days , the lender has no objections and does not respond to the credit bureau, they take it off.

Go to this website for more info:

http://www.ftc.gov/

Rigo, if YOU dont know where the car is, then it was STOLEN. Sooo, YOU need to file a stolen vehicle report with the cops. If you dont file the stolen vehicle report, them it is NOT stolen and YOU know where it is. Simple huh? Rigo, cars have not fallen off the face of the earth since 1492 when CC found the Americas. Oh yeah, to answer your question, YES, they can and will take you to court to get a JUDGEMENT for the unpaid balance. Then the fun begins. You will see the creative powers of lenders in action. good Luck.

In most states creditors do have legal recourse if the debtor attempts to conceal, alter or incumber mortgaged property. If they are required to pursue these actions it will add additional expenses that you will have to pay

Technically, you would need to get title to it before you could sell it. If the bank will grant you "salvage" title, perhaps for a cut of the profits (or a dollar), you can fix it, sell it, and split the proceeds with the bank.

Ummm.. i think by that sentence alone it pretty much answers itself.. Yes, if you have a case against this car, report it.. and if it ohkay after that.. Buy it!

But im 99.99% positive it IS illegal.

In effect, the car isn't paid off. If you check your documentation, you will find that they can do that. If the cheque bounced, the payments haven't been made.

For unpaid taxes and unpaid student loans, yes.

The doctor may prescribe antibiotics to reduce the risk of infection. If the patient can breathe without a ventilator, the room is humidified

In virtually every case pensions are not lost in a bankruptcy even if you go into a banrkruptcy with a pension or a 401K or an IRA. There was a US Supreme Court case from 1992 I believe (Patterson v. Shumate) that basically said that pensions funds are not part of the bankruptcy estate and therefore not subject to the trustee taking them to pay your debts.

I believe you would have to go to your local DMV