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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

Can the tow yard put a hold on your license if you don't come and get the car and pay fees?

No. They can, however, put a mechanic's lien on your vehicle, which could ultimately give them possession of and the right to sell your vehicle.

Does having a remortgage help to avoid repossession?

Yes. If you don't remortgage, you can almost be assured that your property will be auctioned off to the highest bidder. The goal is to delay the repossession as long as possible so you will be allowed to prepare for reminders about payments, solicitors, and--when the time comes--upcoming court dates.

Why would a bank sell someone's car?

Because the bank owns the car. The person that financed the car did not pay the bank.

Can a car dealership make you increase your payments per month due to a bank only allowing you to get a loan for 75 instead of 84 months?

The dealership is not the one increasing your payment. They are a messenger for the bank. Apparently the bank is reducing the term for any number of reason which could be anything from your credit worthiness to the type of car. They are doing you a favor and would do you an even bigger one if they would cut it to 60 months. To finance a car for 75 or 84 months is insane. In a few years when you are tired of the car keep in mind it will cost you a fortune to get rid of it due to the length of the loan you will be upside down (owe more than it's worth) for probable 4 years or more.

How can you take off your husband name from your car?

Change of registration at DMV with his signature relinquishing his ownership.

What will happen if your car is repossessed in NC?

Either you'll get your payments current plus repossession fees, or your vehicle will be auctioned off, and you'll still be liable for the remaining balance after the auction.

Can a co-owner refinance a property without telling the other co-owner?

No. A prudent lender will require that all owners sign the mortgage so that it can take the property by foreclosure if the borrower defaults. If only one signed the mortgage the lender can only take possession of a half interest in the property.

No. A prudent lender will require that all owners sign the mortgage so that it can take the property by foreclosure if the borrower defaults. If only one signed the mortgage the lender can only take possession of a half interest in the property.

No. A prudent lender will require that all owners sign the mortgage so that it can take the property by foreclosure if the borrower defaults. If only one signed the mortgage the lender can only take possession of a half interest in the property.

No. A prudent lender will require that all owners sign the mortgage so that it can take the property by foreclosure if the borrower defaults. If only one signed the mortgage the lender can only take possession of a half interest in the property.

Who should you immediately report lost or stolen Government Furnished Equipment?

It is important to immediately report the stolen or lost government furnished equipment so that proactive steps can be taken to recover them. This is very important as it is an act of patriotism.

Can people be charged with a crime for taking back a repossessed car?

Yeah - you'll be charged with theft of some form. If the vehicle has a high enough value, it could amount to Grand Theft. When there is a lien on your vehicle, you don't actually own it - the lienholder does. If you fail to make your payments, the lienholder has a right to repossess what is already their property. You try taking it back, you're committing theft. You've lost any and all rights to that vehicle, and it is no longer yours in any sense of the word once a repossession agent takes possession of that vehicle.

Repossession of kitchen cabinets?

There are some companies that will repossess kitchen cabinets if they are not paid for. If the cabinets are not paid for then the company can either repossess or take the owner to court.

Is it legal to take your car back from title loan company after repo?

You're talking about trying to repossess it from the repossessor? Short answer, no. You're committing theft - possibly grand theft, depending on the vehicle's value. But the repo agent coming to repossess your car isn't commiting theft. Double standard? No.

The thing of it is, it is NOT your car - the lienholder is the sole rightful and legitimate owner of the vehicle. The repo man isn't taking your car away - he's reclaiming the lienholder's property after you failed to meet the terms of the finance arrangement.

How Do you find out for free if your repossessed vehicle a month ago has been sold and for how much?

You really don't. Bt you can make an estimate. Take the amount owed on your loan at the time of repossession. Once the car is sold, the lien holder will contact you. See, they're not likely to get the full amount owed by you at the auction, so there'll be a remaining balance. They're going to expect you to pay that back still. They'll tell you what that amount is. So you subtract that amount + repossession and storage fees from the balance you had prior to the repossession, and you'll get a rough idea of what it was sold for at auction.

What is one way to stop repossessions?

One way to stop a repossession on anything is to make sure your bank actually has the proper paperwork filled out, and if not, file for a legal injunction to stop or delay the repossession.

Can you get your medication from a repod vehicle?

Yes, you are allowed to remove your personnel property from any vehicle that has been repossessed. Take proof of ownership to the lot where the vehicle is stored and ask for your property. If they refused call the lender.

Can you cosign for a car while in chapter 13 bankruptcy?

No. You would not be a good credit risk nor a sensible guarantor if you are in bankruptcy yourself.

No. You would not be a good credit risk nor a sensible guarantor if you are in bankruptcy yourself.

No. You would not be a good credit risk nor a sensible guarantor if you are in bankruptcy yourself.

No. You would not be a good credit risk nor a sensible guarantor if you are in bankruptcy yourself.

Can a bank automatically take a payment out of a co signers acct if loan is late?

Yes, if that is what they agreed to when they co-signed the loan. Remember, when you co-sign a loan you are fully responsible for paying it if the primary borrower fails to pay. The co-signer should review all the documents they signed when the loan was granted.

Yes, if that is what they agreed to when they co-signed the loan. Remember, when you co-sign a loan you are fully responsible for paying it if the primary borrower fails to pay. The co-signer should review all the documents they signed when the loan was granted.

Yes, if that is what they agreed to when they co-signed the loan. Remember, when you co-sign a loan you are fully responsible for paying it if the primary borrower fails to pay. The co-signer should review all the documents they signed when the loan was granted.

Yes, if that is what they agreed to when they co-signed the loan. Remember, when you co-sign a loan you are fully responsible for paying it if the primary borrower fails to pay. The co-signer should review all the documents they signed when the loan was granted.

When would a house be in danger of repossession?

Typically, a house can be repossessed after 90 days of non payment by the mortgage holder. However, it is not illegal for repossession to begin after a missed payment, though this is extremely rare.

Can you file Chapter 7 and keep your house and car?

Whether you can keep your house and car depend on how much equity is in your house and car and the available bankruptcy exemptions within your state. If the bankruptcy exemptions allow you to protect the equity in these assets then you should be able to keep them in bankruptcy.

Who owns the air above private property?

In many jurisdictions, airspace above private property is generally considered to be owned by the property owner to a certain extent, typically extending up to a height necessary for the reasonable use of the land. However, this ownership is subject to regulations and limitations imposed by government authorities, including air traffic control and zoning laws. Additionally, in some cases, property owners may not have rights to the airspace at higher altitudes where commercial air traffic operates. Therefore, while property owners have rights to the airspace above their land, these rights are not absolute.

Is a warrant or court needed to repossess a vehicle in the state of Tennessee?

No. The lienholder is the rightful owner of the vehicle, and can reclaim their property as needed.

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