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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
UNSTFD stands for unsubsidized Stafford loan. These types of student loans typically charge 2 - 3 percent more interest than subsidized Stafford loans.
What are the consequences of not making car payments?
If you do not make car payments you will default on your loan or lease. It will ruin your credit and end up with a repossession.
What is the height above sea level for Sudbury Ontario?
The City of Greater Sudbury, Ontario, Canada is located 347 meters or 1138.45 feet above level.
yes as long as there are no locked gates
How soon after a car is repossessed can it be sold to someone else without your consent?
when your car is repossed they will send you a letter in the mail stating how much you back owe I believe that it also states how much the car currently is worth. The letter gives you a chance to re-buy the car however I can't remember if it gives you the amount of time you have to re-buy it. The letter is also to inform you what they can sell the car for alot of times if they sell the car for less than what it is worth they can come after you for the remainder. This could also differ according to the state you live in and according to the agreement you have with the loan company. My car was repossed and I ended up having to pay the back charges. Sometimes they will cut you a deal for that. For me they took half off what I owed and I payed the remainder so that it would no longer be on my credit report. But I waited for them to find me. Pretty much right away .
No, because you have your own separate credit report.
How can they repossess a car if I have moved?
Companies use different types of software and databases to locate someone. It's called skip tracing. They use credit reports, telephone listings, refrences (that you have likely listed on the application), and find family members using the software. It is highly likely that they will locate you (maybe not the car). If they are unable to find the car, they have the option of swearing a warrant for concealment of property for security interest. This is dangerous because you would still have tobe arrested to relase the warrant even if they retrieve the car and plan to drop the charges.
Is your concealed weapons permit valid if you were convicted of a DUI in Texas?
It depends, but the basic answer is, the permit is valid unless it has been revoked by the state that issued it. In some states such as Tennessee, you can still keep a permit if you have a DUI, as long as it wasn't a felony DUI.
Can you file your car in bankruptcy after a bankruptcy discharge?
You probably have to!
You were supposed to include everything you owe and everything you own...you swore and signed legal documents saying you did. You don't pick and chose what you have to be included....it all is. Some things are exempt for actions against by law...but that is their class, not that they aren't included in the filing.
If you forgot something, you should probably advise the court and correct the clerical error you made.
What are the laws in Kentucky?
In most cases reasonable and accepted, as the Law of the Land. They are generally built around a model that could be recognized by Law enforcement in other states or jurisdictictions. At the local level things can get dicey mostly because of oversight.
No. The balance is an unsecured debt and is discharged. Sometimes people do not do the paperwork correctly, which can cause problems.
Do affidavit need to be hand delivered?
I assume you mean a summons? a affidavit is created after the summons has been served, the affidavit is what goes to the courts after you have been served. There are three ways a person can be served papers. One is (personal hand delivery) two is (suitable age) which means anyone of or over the age of 15 in your household. and last is (taping to the door) after three attempts to serve you papers these are all reasonable means of being served atleast in my State.
How do you make laws in Missouri?
The same was as in every other state. A state representative introduces a bill in the legislature - it is debated - it is passed - it is sent to the Governor - who either signs it or vetoes it. If he signs it, it becomes law.
What are rights as a leinholder on an automobile?
Varying laws in the various states. You need to research this, regarding several things; Are you the primary lienholder, or one of several lienholders? Is there a legally enforceable contract for loan and repayment? Have you given the debtor sufficient notice to repay the debt? Etc.
What is the law on a repossession of a home?
Laws vary from state to state. However, if you haven't made your mortgage payments for several months, the bank is likely to repossess your home. Generally the time period is up to the lender, but once the paperwork goes through--you will receive notices if your mailing address is up to date-- you should expect short notice that you are being evicted. Evading receipt of the paperwork does not change matters. Long story short, the best thing to do if you cannot make payments is to have a serious discussion with the right person at the lender--the servicing company is not necessarily the place for real help. See related link for definitions of terms.
What are your rights in dealing with a collection agency?
According to the "Fair Debt Collection Practices Act", a collection agency must submit to you in writing who the original creditor was, the original creditors contact information (if account was sold who owns the account now), and the amount owed. After you request this information, they must send the information to you via letter. You also have rights that state the collection agency must not threaten you in any way. If they do, you can prosecute.
Additional Iformation
You have rights, but you are still responsible for your debts. If you refuse to pay the debt, whether you think you have a valid reason or not, the collection agency has a right to get a judgment and garnish your wages or bank accounts. Having had something repossessed does not mean that it was "taken care of." It was your responsibility to make sure your name was cleared rather than just assuming that it was. If the furniture had decreased in value from normal wear and tear, it is very likely that you owed more on it than it was worth at the time it was repossessed.
Most collection agencies train their employees in collection laws and they know what they're doing. Nobody likes a bill collector, but we all know that they're necessary.
Clarification: Of course, only the original creditor or their assigned legal agent (a lawyer, NOT a collection agency) can get a judgement against you. A non-lawyer collection agency can NOT get a judgement against you because they cannot threaten to sue you. Read the Fair Debt Collection Practices Act which you can get from the Federal Website (see links below). If something was repossessed, and someone is still trying to collect on it, check with a lawyer. The circumstances vary too much to be answered here without getting bogged down and missing the point of the original question.
Remember, while collectors train their people in the law of collection, they also teach them how to skirt the laws that they think people are unfamiliar with.
Individual States
Each state has a statute of limitations (SOL) for debts incurred. If your debt is outside the SOL then you are not legally required to pay it. Period. A debt outside the SOL is an affirmative defense in a lawsuit.
Rights are retained in writing only. Do not settle for telephonic exchanges, decisions, or promises. Some states, particularly Ohio, have more severe rules regarding violations of the FDCPA.
Do not ignore the DC or the dunning letters. Some DCs follow the law, but your are responsible to ensure any contact with a DC is lawful. If they violate your rights, they sure won't sue themselves over it.
When dealing with collections agencies, make sure you are familiar with the Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA), at minimum.
What can you do if your car has been repossessed twice and they want you to pay the entire balance?
u have no choice now. What state?
Who sells repo business insurance in Wisconsin?
Contact a few agents in your area if they do not sell this product they will likely be able to refer you to an agent that does.
Should you be notified where your car will be sold after repossession in Georgia?
See OCGA § 10-1-36, which I've pasted below: O.C.G.A. § 10-1-36 (2007)
§ 10-1-36. Disposition of motor vehicle repossessed after default; right to recover deficiency
(a) When any motor vehicle has been repossessed after default in accordance with Part 6 of Article 9 of Title 11, the seller or holder shall not be entitled to recover a deficiency against the buyer unless within ten days after the repossession he or she forwards by registered or certified mail or statutory overnight delivery to the address of the buyer shown on the contract or later designated by the buyer a notice of the seller's or holder's intention to pursue a deficiency claim against the buyer. The notice shall also advise the buyer of his or her rights of redemption, as well as his or her right to demand a public sale of the repossessed motor vehicle. In the event the buyer exercises his or her right to demand a public sale of the goods, he or she shall in writing so advise the seller or holder of his or her election by registered or certified mail or statutory overnight delivery addressed to the seller or holder at the address from which the seller's or holder's notice emanated within ten days after the posting of the original seller's or holder's notice.
(b) In the event of election of such public sale by the buyer, the seller or holder shall dispose of said repossessed motor vehicle at a public sale as provided by law, to be held in the state and county where the original sale took place, or the state and county where the motor vehicle was repossessed, or the state and county of the buyer's residence, at the seller's election.
(c) This Code section is cumulative of Part 6 of Article 9 of Title 11 and provides cumulative additional rights and remedies which must be fulfilled before any deficiency claim will lie against a buyer, and nothing herein shall be deemed to repeal said part.
I don't know if the car is paid off, but if he is considered the owner, and they are considered the co-signer more than likely no. The co-signer's are really people that will pay the payments if he dosn't. If the payments are being paid on time then no.
Can a repoman drive a car that has been repossessed?
Drive it WHERE? They have to drive it to get to their storage lot. If you believe that they are driving it for personal usage, that is a question that isn't covered by criminal or statute law. The appropriateness of it will have to be determined by the lender that financed the car loan.
Given proper notice, a landlord can evict you for whatever reason. He could opt not to renew your lease if you have one, or otherwise terminate your residency with proper notice.
We are currently involved in a lawsuit against another person. This is what my attorney told me: the defendant can file bankrupcty against the judgement, BUT NOT against punitive damages awarded.
Not really. You could ask the court to dismiss the bankruptcy. You'd have to pay a fee. Considering the amount, it is highly unlikely, that would be granted. There are probably many creditors with much higher claims. One thing people who sue (and get sued) usually don't understand is how difficult it is to collect on a judgment. Over 90% of judgments are "no assets judgments. Meaning the person sued has no way to pay the debt, because the exemptions covered the assets. Therefore the creditor loses their money and court fees spent for the filings.
If you own a s corporation will you lose your house and car when filing chapter 7?
If it is the S corp going BK it does not effect your personal assets, except to the amount you own in the S corp or co-signed loans for it.
replenish OR repLEVIN law? Replevin means the court orders you to give up property that's not yours that you cant/wont pay for.
