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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
If separated and there are two cars can spouse take both cars?
It depends on whose names are on the title. If the title is in her name alone then she can take the car. If the title is in both names or in his name alone then she can't take the car. However, she should consult with her attorney before taking any such action especially if it deprives him of his ability to get to work.
What states have tenancy by the entirety property ownership?
States that allow legally married couples to own property as "tenants by the entirety," a type of joint ownership that offers protection from creditors:
Alaska
Arkansas
Delaware
District of Columbia
Florida
Hawaii
Maryland
Massachusetts
Mississippi
Missouri
New Jersey
Mississippi
Oklahoma
Pennsylvania
Rhode Island
Tennessee
Vermont
Virginia
Tennessee
Wyoming
States that allow tenancy by entirety for real estate only:
Illinois
Indiana
Kentucky
Michigan
New York
North Carolina
Oregon
Is it illegal to carry a concealed blank gun in Philadelphia?
If you have a concealed carry permit from the state of Pennsylvania, you may. However, without this permit, what you're suggesting would be a very ill-advised thing to do - even though it doesn't fire projectiles, a blank firing weapon is still potentially dangerous, as the gases emitted from the barrel can cause injury at up to 20 metres. Thus, it would still be considered a concealed weapon, whether or not the state of Pennsylvania considers it a proper firearm.
How do you find an owner of cell 912-660-2618?
Answering "How do you find an owner of cell 924-282-3739?"
Can you claim bankruptcy on the amount owed after a repossessed RV is sold at auction?
All debts or obligations and all assets must be included in BK. They are given priorites of payment by the court (a secured loan, as this was originally, has priority to receive the funds from the asset it is secured to before any others). Some debts may not be discharged and some assets may not be used. This would seem to be dischargeable.
But understand, you do not file BK on specific things...it includes everything.
How do you tow a car out of a parking garage?
Most likely using a wheel lift tow truck, most common right now since it has a yoke that closes on the tires and lift either the front or rear of the car without hitting the height of the garage.
The first step is to contact the leinholder. If they think it is worth repoing. they will pay the $2000 in "storage fees". Be sure and check your state laws for how many days you have to contact the leinholder AND how many days storage the leinholder has to pay AFTER you notify them. The first $1900 in "fees" is likely an investment you will have to eat(include at NO cost). Wouldnt it be great if you could "store" your friends car until the "storage fees" were higher than any lender would pay, them you magically get the TITLE?? Sorry, this ain't Kansas and you ain't the Tinman. It don't work that way. After you notify the lender , if they decide they don't want it, you are stuck with a car and NO TITLE.Each state has laws designed to handle this situation. Call the DMV in your state for more info. Or Google "abandoned vehicle + Your state".
Can a lien be put against a home for a vehicle repossession?
Yes. That means in the event you try and sell your home, any monies received from the home their portion is given to them first.
YES, IF the lender has a JUDGMENT against you.
It depends on the chapter. In either case, your remaining debt is now unsecured and a bankruptcy filing places the judgment on hold. If it is Chapter 13, file a claim and you may receive a percentage of the bankruptcy estate, but not usually until near the end of the bankruptcy term (3-5 years). If it's a Chapter 7, again, it's an unsecured debt and highly unlikely that the debtor will sign a reaffirmation to pay you back. If the bankruptcy gets dismissed (thrown out), your judgment is back in force, provided it has not expired.
Should Have Had Dad Along With You. You Have A Permit++ You Are Required To Have A Person With Drivers Liscense With You.
First of all, you cannot place an involuntary lien on the sellers house unless you have a court order (i.e. you filed a lawsuit and got a judgment). Laws vary by state and you should really talk to a local estate attorney. However, you probably signed an agreement that included escrow instruction. The escrow instructions probably have instructions on how terminate the escrow and retrieve you deposit or this topic might be covered in the sales agreement. Some contracts require mediation and/or arbitration. Legal action against the seller and the holder of the deposit money may be necessary, but I cannot emphasize enough the need to see a local attorney who knows the laws of your state.
Why is the IRS billing for a car that was repossessed?
What probably happened was this: When your car was repossessed, the bank took the car to an auction. As an example, if you still owed $10,000 on the car and they sold it at auction for $5,000 then you are still liable for the remaining $5,000 on the loan. The bank probably wrote this off as a bad debt, and reported it to you as Cancelled Debt (Form 1099-C). Under the Internal Revenue Code, cancelled debt is taxed as income unless you qualify for an exception (either being in bankruptcy or being insolvent at the time the debt was forgiven).
Can you be locked out of your gated community?
Generally, no. Generally, it would require a court order to prevent a person from accessing their privately owned property.
If you're car is towed can you let them keep it to avoid fees?
Most towing companies will let you do this. You will need to bring them your car title and sign it over to them.
Do Pennsylvania repossession agents have to notify you that they have your vehicle?
Those who have had a vehicle must be notified, typically within 24 hours, but that may be done by the repossesion company, the actual agents, or the original lender. All are acceptable.
What qualifications and licensing are required to become a vehicle repossession agent?
This depends on where you live.
- In Florida and California, you have to be certified by the state. State permit etc. Other states, mostly wide open. It's NOT a very regulated industry yet.
- In California you must be employed by an agency that is already licensed by the state. You must then be registered as a repossessor employee for at least two years before you can qualify to take the state test to become a qualified manager. All agencies must have a qualified manager for each office.
- In Pennsylvania, you contact the Pennsylvania Department of Banking for an application for Licensure Collector-Repossessor. License is required under Title 69 section 601. You have to file an application with a bond of $5,000, a $350 license fee, and fingerprints for a criminal history check. The annual renewal fee $250. The license is issued under the Motor Vehicle Sales Finance Act. Records are required to be maintain on business of collecting payments or installment sale contracts or repossessing motor vehicles. More details are in the Motor Vehicle Sales Finance Act.
- In Maryland contact Maryland Motor Vehicle Administration, 6601 Ritchie Hwy. N.E., Glen Burnie, Maryland 21062. Tel:(410)768-7000.
- In Alabama, Tennessee, Georgia, and Miss., all you need to do is notify the police after the repo has taken place, you do not want Bubba runing you down. You need to treat the people with the same respect that would yourslf, BS and finesse run the course when you are skipping someone. As for a truck you dont need it. I used the uHaul to pick up front wheel cars. Keep in mind you need to get a locksmith fast because the lender is paying for it.
- In Washington State you do not have to be certified. (Surprising, considering how over regulated everything else here is.) The best advice I've heard is: DO NOT GET CAUGHT BEING UNDER-INSURED. These people are usually hot! And they will try and nail you any way possible, you will certainly find yourself defending your actions in front of a judge sooner or later. Know the law and cover your #$%!
IMHO, it should be REQUIRED reading for anyone with the desire to be a repoman.
Here are a few laws you might want to get familiar with if you wanna be a REAL recovery agent, in Oklahoma: http://www.lsb.state.ok.us/
Title 13. Common Carriers (179KB)
Title 14A. Consumer Credit Code (805KB)
Title 15. Contracts (777KB)
Title 12A. Commercial Code (2095KB)
Title 24. Debtor and Creditor (153KB)
Title 28. Fees (179KB)
Title 40. Labor (1200KB)
Title 42. Liens (269KB)
Title 47. Motor Vehicles (3472KB)
Title 59. Professions and Occupations (3332KB)
Title 60. Property (1225KB)
Title 72. Soldiers and Sailors (315KB)
AnswerThe smartest way to get in the business is starting to work for another company. There are many laws and regulations that very from state to state, and if you are getting into it with no experience, chances are good you won�t last. Work a few years for a local repo company as a driver, and as you learn what you need to do, it will be a lot easier to start your own company. Everyone on here that is wanting to repo cars, yea you can go get your license, get your bond, but the big question is, where are you going to get the finance companies that will give you accounts? You need to know what you are doing before you get into this business. AnswerI would have to agree with the previous answer. There are many ways to get into the repo industry. Yet, once you get there, how do you succeed? Go work for another company. Find one in your area, get a truck, get a boom, and learn how to get into cars. Learn how to go without sleep and how to work for 14-18 hours straight. The job is a fun one at times, while at others you want to shoot yourself for getting involved. It's not a job that you can do half way... it's one that is all or nothing. TLC and other shows have made it look fun and somewhat glamorous with titles like "Stealing for a Living". I have never stolen anything in my life. I recover what others are stealing from lien holders and financial lenders. Rethink your decision and if you are serious, contact a local repo agency and see if any of their agents need drivers and go from there. AnswerI AGREE WITH THE PREVIOUS STATEMENT I AM 22 YEARS OLD AND HAVE BEEN WORKING THE COLLATERAL RECOVERY INDUSTRY SINCE I WAS 16. IN THAT TIME I HAVE SEEN MORE THAN 100 AGENTS COME AND GO FROM THE TWO COMPANYS I HAVE WORKED FOR....THE REPOSSESSION INDUSTRY TAKES A CERTAIN BREED TO SUCEED NOT JUST ANYBODY CAN DO IT.! AnswerAll those answers are..for the most part correct! I am a female repossessor living in Valencia. I have been doing this for over 7 years and am now thinking about starting a repo business of my own. But from experience, i KNOW that most people who think they can start a repo business FAIL. Because they don't do it ....first hand....before they try and start the company. You need people you can trust to recover collateral and most of all, you need to have referrals from the lienholders. I myself, am lucky in that sense because many finance companies know who I am and know I am a great skip tracer, which results in reoovery! So if you're gonna try this, be a repo agent first! It's not as easy as you might except, especially if you're in California, as I am...where the consumer laws are much more strict that other states! AnswerMy answer...................DON'T DO IT. Now that I have your attention, i will get right to the facts. Anyone can start a repo company. I am on my 3rd one now.It takes trust in at least one other person. The kind of trust that comes from knowing someone a while. Then it takes trusting yourself. Are you the kind of person that can go for hours while watching a home and waiting for someone who may or may not show up? Long hours in a thankless job. Know yourself and your partners before you start. Anyone can drive a wrecker and operate a boom. But make sure you have what it takes to be a real repo man (or woman) before you sink your time and money into it. Like i said, until you are sure, DON'T DO IT..... AnswerThe previous answer is pretty much how it is. I went on vacation recently and just so happened had info that one of the cars that I was looking for might be in my vacation spot, so it ended up being a working vacation with a family that was very upset with me...but I did find the car. :-) AnswerI think the best step would be to apply for the job.Where can you find an address when you need to repossess a car and what are skiptracers?
DMV, Officer "Friendly" at the local SO, neighbors, family, PHONE BOOK, etc. What is a skiptracers? This is the process of LOCATING the debtor. It should be done by the LENDER. A repossession is going to ONE address and picking up the collateral. After that it is skiptracing the debtor. You will find few, if any, lenders who will agree with this definition.
What is the law for repossession in WI?
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.
How do you find out where your repossessed car is being held?
The local police or the lender can tell you who has the car.
If you file bankruptcy do you have to liquidate all your investments?
Yes, unless you were smart enough to put some of these investments in your spouse's name or someone else's name. * In the US property and assets that are subject to seizure and liquidation by the bankruptcy court is determined by the type of bankruptcy that is filed and whether it is a federal or state filing.
What are antitrust laws and how do they protect consumers?
First, a definition of "trust" is in order: a trust is when a group of competing businesses decide that competition isn't all it's cracked up to be, frankly, and cooperate with one another instead to set prices and availablity of their products. This is called "collusion," and it drives up costs and drives down quality. In a "free market," people who see such actions could come in, undercut the trust on price, and win major market share. Unfortunately for free marketeers, the trust members, who are colluding to control prices, remember, slash their prices wherever their new competitor tries to sell his stuff. As a result, the trust loses money on each sale, but, being much larger than the small fry trying to break in, are easily able to absorb the losses by either eating the losses outright, or, more likely, hiking prices elsewhere to cover the difference. Antitrust legislation prevents such behavior, as long as the government is willing to enforce it. Basically, consumers benefit through: * Lower prices * Higher quality * Greater availablity * More innovation Two great online resources for you to check out... http://www.usdoj.gov/atr/public/div_stats/1638.htm The US Department of Justice's Antitrust FAQ is one of the clearest explanations I've ever seen. (Really!) http://www.antitrustinstitute.org/links/misc.cfm The American Antitrust Institute's webpage of links to all sorts of additional information.
I mean, you did plan on paying the car lease people, just like you promised the other people you would make payments to, didn't you? But now your not paying them. I wonder if they had plans for what to do with the money you were to pay? I guess your bankruptcy will make them change those.
Is it possible that the money you could have paid them with, instead was used to pay for the car you wanted (and plan to keep). Could almost sound like a preferential payment, don't you think?
I guess, the way you are trying to see it, the only things you may need to reveal and involve, is the ones you want to get away without paying - but not anything you don't want to lose. So, forget about any savings accounts too....especially if you were diligent at maintaining them and you have plans for it. And those payments were important to you and needed to be made before many others. Also, bankruptcy certainly shouldn't interrupt your plans.
Can rent a center file criminal charges in NJ?
Neither individuals nor businesses can "file charges." Only the prosecutor's office can 'file' criminal charges. Anyone else can only file a criminal complaint or report a crime to law enforcement. An investigation is conducted and if probable cause is found an arrest is made or a warrant is applied for. A business can file a criminal complaint against someone.
How do retrieve personal items from apartment of deceased relative?
Be very careful. You must ask to have the items returned to you, or seek permission to enter the premises (from the executor), and you may be asked to produce some proof that the items actually belong to you.
The executor will presume that anything in the premises belongs to the estate of the deceased until proven otherwise, as it is the executor's duty to gather and protect all of the decedent's property from people who wander in making informal claims.
If the executor makes a mistake and gives you something that later turns out to have been the property of the decedent, you can be forced (in court) to give it back or pay to replace it if you have disposed of it.
