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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 you put a mechanic lien on your car to baffle the repo company for a while?
Sure, if you want to commit fraud.
Is the candle making business in Nashville TN profitable?
Yes, I have consulted many of these light manufacturing\ retail operations in the past. Research the competition in your home town, buy your products such as wicks and wax in bulk, and then manufacture your candles in the garage of your own home. Research marketing techniques and pricing for your product........ and that's all you need. Average unit yield in terms of profit is $10-12 dollars.
What is the maximum automobile repossession fee that can be charged in Texas?
Some states have set maximum amounts for repossession fees. The state of Texas,. however has not set a maximum amount on the fee that can be charged for a car repossession.
Which is better to file bankruptcy or voluntary repossession?
file bankruptcy that bay you wont loose your stuff
This may vary from state to state, and I don't know what you meant by "lost the lienholder", so I'm kind of guessing here.
Most of the time, the contract will say that the dealer will arrange for financing for you at a particular rate specified in the contract, and if they can't, they have some (short) window of time to notify you of the changes.
Dealers generally arrange financing right away and get a pretty firm commitment from the financing company, but once in a while things do go south later, especially on used cars, and the terms change.
When the dealer contacts you with the updated terms, you will need to either go back in and sign a new contract, or return the car to the dealer. You don't have a lot of wiggle room here if they did notify you.
If they didn't notify you, though... at 30 days, it's too late for them to change it. They MUST finance the car at the rate specified by the contract, even if the dealership has to do it themselves.
What will probably happen in practice is that they'll threaten to repossess the car if you don't come in and sign the new contract or return the car. And if you talk to a lawyer, you'll probably be told that a court will do exactly bupkis about this until the dealership actually does repossess the car, and then you'll have to sue them.
The bottom line is: talk to the dealership and try to work it out.
Can you still get evicted if you file chapter 13?
Temporarily. There are some ways to discharge past rent and stay in your apartment - consult an attorney.
Speak with an attorney about your specific situation. If you can not find an attorney, contact your local Bar association and they will refer you to one.
How much does a repossession damage your credit?
7-10 years and damage is bad. You will have to pay HIGHER interest on loans and BIGGER down payments.
Is it legal for you to shoot a repossession agent while he is repossessing your vehicle in Texas?
Is it legal for you to shoot the Seven Eleven clerk because they are doing their job. While I know Texas is a little bit different when it comes to protecting your property, as long as the Agent is acting in the scope of the law, then NO you can't shoot them.Just remember if you breach peace first, he may just breach it back. If that was me, you better kill me with the first shot, or I WILL shoot you back.
it is illeagle to shoot anyone anywhere unless you life is in imediate danger. Different states have different measuring sticks but someone stealing your car is not justification. If you saw someone taking your car and turn around and get a gun and shoot that person youd better kill them because this is America they can sue you.
Yes it is legal to shoot the repossessor. See Texas Penal Code 9.42."Sec. 9.42. DEADLY FORCE TO PROTECT PROPERTY. A person is justified in using deadly force against another to protect land or tangible, movable property:(1) if he would be justified in using force against the other under Section 9.41; and
(2) when and to the degree he reasonably believes the deadly force is immediately necessary:
(A) to prevent the other's imminent commission of arson, burglary, robbery, aggravated robbery, theft during the nighttime, or criminal mischief during the nighttime; or
(B) to prevent the other who is fleeing immediately after committing burglary, robbery, aggravated robbery, or theft during the nighttime from escaping with the property; and
(3) he reasonably believes that:
(A) the land or property cannot be protected or recovered by any other means; or
(B) the use of force other than deadly force to protect or recover the land or property would expose the actor or another to a substantial risk of death or serious bodily injury."
How many days I havent located yet. I dont know of any state that requires of more than 30 days waiting time before the lender can dispose of the repoed collateral. STORAGE??? FROM DAY ONE. http://www.moga.state.mo.us/statutes/C400-499/4080000554.HTM Notice of default, contents, form, delivery. 408.554. 1. After a borrower has been in default for ten days for failure to make a required payment and has not voluntarily surrendered possession of the collateral, a lender may give the borrower and all cosigners on the credit transaction the notice described in this section. A lender gives notice to the borrower and cosigners under this section when he delivers the notice to the borrower or cosigner or mails the notice to him at his last known address. 5. In the case of a second default on the same loan made pursuant to section 408.100 or on the same retail time transaction as defined in section 408.250 or in the case of a third default on the same second mortgage loan as defined in section 408.231, the notice described in subsection 2 of this section shall indicate that in the case of further default, the borrower will have no right to cure.
Can a vehicle be repossessed if the payment is 21 days late in New York State?
READ your CONTRACT. IF the contract is in DEFAULT, the collateral CAN be repossessed.
IF the loan is in DEFAULT that has the car as collateral AND the LENDER issues a repo order, YES, the repo man can take the car from a 3rd party in possession.
What insurance is required for the auto repo business and what is the normal cost of this insurance?
MOST FINANCIAL INSTITUTIONS REQUIRE YOU TO HAVE AT LEAST A MILLIoN DOLLaR LIABILiTY COVERAGE POLICY. SOME ALSO REQUIRE YOU TO BE BONDED. YOU CAN GET ANSWERS TO A LOT OF THESE QUESTIONS BY GOING TO REPOMAN.COM. THE COST IS, OF COURSE GOING TO VARY FROM COMPANY TO COMPANY AND THERE ARE VERY FEW THAT ACTUALLY PROVIDE THE NECESSARY INSURANCE TO DO REPOSsESSIONS. I'VE SEEN COSTS AVERAGE BETWEEN $800 - $1000 A MONTH FOR A POLICY. ALSO, SOME INSURANCE COMPANIES THAT PROVIDE THIS INSURANCE HAVE A REQUIREMENT THAT YOU BE IN BUSINESS ANYWHERE FROM 2-3 YRS BEFORE THEY WILL EVEN WRITE YOU A POLICY. GO CHECK OUT THE WEBSITE MENTIONED ABOVE WHERE THERE IS QUITE A BIT OF INFORMATION THAT IS EXTREMeLY HELPFUL.
It is up to the creditor to file a motion for relief from stay in order to take back the car. Your ability to buy another car will only be limited by your ability to find a willing seller and a willing lender.
If the surviving spouse was not a joint borrower on the vehicle loan the repossession affect/appear on their credit report.
A car that is leased is registered in the name of the leasing company. I would talk to the dealer and see if it is not to late to change the contract from lease to retail. You may be out of luck though if it has been to long.
can law enforcement go into a business and tell them not to buy from a local citzen when that citizen has never been in trouble
In the state of New York criminal law system, ACOD stands for adjournment in contemplation of dismissal. Wherein a criminal matter can be adjourned (postponed) for a period of time, usually 6 to 12 months, with the stipulation that the defendant conform to the certain conditions of the court, usually not getting rearrested for the same charge or any other charges during that time period. If at the end of such period the defendant has conformed to the conditions of the adjournment the charges in question are dismissed. The real question here is, what are the ramifications of accepting an ACOD?
It is possible to place a lien on unclaimed property, however more than a certified letter will be necessary. You should begin with the letter to notify the mobile home owner of your intentions, and if the home goes unmoved, you may file for a lien with the local courts. This will require further contact to serve the home owner.
Will a repo man come to your PO box to reposses my car?
If that's where you park your car, that's where he will go to pick it up. ---- They may also monitor your post office box until someone shows up to pick up your mail, then follow them to you. Most will wait for an opportunity when nobody is in the vehicle before attempting repossession for their own safety.
Does insurance follows car in Pennsylvania?
I recommend you this site where you can compare quotes from different comapnies: INSURANCE-QUOTES-FREE.INFO
Bankruptcy must be filed in the state in which you reside for the majority of the year.
How much does it cost to get your car out the impound in Illinois?
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$...some dollars...^^
Call a LOCAL attorney for state specific advice. Check at your local courthouse for the judgments records.
How can you get a copy of your repossession paper when the company will not help?
If it was a wrongful repossession, get an attorney and they will get a copy of it. Otherwise, what could you possibly do with it?
