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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
What are the repossession laws in NC?
A few basic guidelines:
- Repossession must be peaceful
- Repossessors may not enter any vehicle other than the one they're repossessing, even to move it out of the way in order to facilitate the repossession.
- Repossessors may not open locked gates or enter structures without permission.
- Repossessors must notify local authorities when they are repossessing a vehicle.
If you signed a promissory note and the person decided not to sell you the car, you do not have tobpaybthe down payment. The person has already voided the promissory note by not selling to you.
Can a safety deposit box in a bank be levied seized or opened for a court judgment debt?
Yes they can be ordered open, but it requires a different court order
Does someone have a sample letter for instituting storage fees?
A sample of what you can write in a letter for instituting storage fees is how much will be charged. You should also disclose when these fees will go into effect. It is important to give users time to remove their items if they choose not to stay and pay these fees.
What is default request affidavit and entry?
These are stating that you owe money that has not been paid off. Someone is suing you to get the money back.
The answer would depend entirely upon the exact wording of the loan and the security agreement, when read in context of local laws for lending and consumer protection.
Is it theft by deception for hiding a car in California?
Theft by deception = buying a car with a bogus check, or selling a car that had phony title and they were aware it was phony, Or If someone sold a Dog that was someone elses that they were watching or If someone was representing they owned an apartment that really they were renting and then sold it. This is theft by deception. P.S. Hiding a car that you purchased on a contact because you didnt or couldn't make the payments on, is not theft because you could be hiding it from thieves or your kids or? ask your attourney
Can a complex manager have your car towed if you don't have a parking pass?
Yes. You aren't parked there legally, and they have no obligation to let you leave your car there.
What are all the liens included in junior liens?
The types of liens that are common junior liens are mortgages filed after the first, Home equity lines of credit (HELOC), mechanic's liens, back child support payments, property taxes, past due HOA assessments, dues and fees, IRS, court judgments (if they are attached to your property by a judge).
If the first mortgagee successfully forecloses on a property, all liens attached are wiped out except for property taxes, IRS liens, and child support.
How do you file for bankruptcy in Tennessee?
In a FEDERAL Bankruptcy Court. Reasonable to say, with an attorney (like your creditors will have), as you didn't even realize that, and it gets...maybe 10,000 fold (literally) harder...with errors meaning things like jail time.
Yes. all of it should go toward repaying the loan. That is why they reposessed it...because of the delinquent loan.
A Lien is a legal document that is used to support the claim that an individual or a company has financial interest in property, whether it's real estate or personal property. If such a claim is valid, the proceeds of a sale must first go toward settling the claims of the lien before any other money is distributed.
== == Many companies that offer private behind the wheel training lessons rent out their vehicles for driving tests at the DMV. Use the internet or phone book to find driving education programs in your area that offer behind the wheel training and look into their policies and rates for renting out a car for your behind the wheel test at the DMV.
I think you're pretty much screwed. The DMV is not responsible for providing the car to you. You COULD (if you ABSOLUTELY have no one), try looking through some classifieds and searching for a used car. You could explain to the party attempting to sell your situation and if they will help you out with the test in exchange for buying the car. Try negotiating, offer a little more than what they're asking, or something similar. Make sure the car is road safe. Brakes, tires, hazards, blinkers, no broken glass, non-obstructive body damage, engine and transmission are at acceptable operating levels, etc. The handbook along with used car buying guides will tell you what you need to know. Hope this helps.
How can you get back the license plates of a repossessed vehicle to cancel your registration?
If you are trying to cancel your car registration and want to give your license plates back to the DMV all you need to do is go to DMV and fill out affidavit that your vehicle has been repossessed because you have the plates to surrender.
Otherwise, just call all the impound lots in your county see if they have your vehicle and ask them when can you retrieve your personal belongings and plates from your vehicle.
What is the Colorado repossession law?
Colorado Repossession Laws Quick Answers: Where do I refer to for Title or License Registration? For state Title and License Information, refer to: 1881 Pierce Street
Lakewood, Colorado
Phone: (303) 205-5607
Fax: (303) 205-5978
Hours of Operation:
8:00 a.m. to 5:00 p.m.
Mail Correspondence to:
Division of Motor Vehicles
Department of Revenue
Registration Section
Denver, Colorado 80261-0016 ---- For all other inquiries, the main office location of the Colorado Division of Motor Vehicles is
1881 Pierce St.
Lakewood, CO 80214
Hours of Operation:
Monday - Friday, 8:00 a.m. - 5:00 p.m. Telephone: (303) 205-5600
Security Interests: Shown on title held by lienholder. Recording Requirements: Must be recorded in the County Recorders office where buyer resides or where property is located. Uniform Commercial Code adopted July, 1966.
Recovery Requirements: As per the UCC, repossession is allowed and permitted as long as it is peaceful, after 20 Day Right to Cure Letter from lienholder to debtor (except skips, leases, lack of insurance or third party possession). The Debtor must be sent a Consumer's Right to Cure allowing debtor 20 days to bring account current.
Redemption Requirements: No redemption after foreclosure.
Deficiency Requirements: Deficiencies are permitted and confession of judgment notes do not render the note illegal.
Special Motor Vehicle Provisions: Liens on motor vehicles, in order to be effective as to third parties, must appear on title. This is in lieu of general recording. Secretion or concealment of mortgaged property is a crime.
Documents Required to Transfer Ownership of Motor Vehicle: Repossession title in name of lienholder which is then signed off before release. Documents Required for Liquidation: Repossession title is issued to lien-holder only. Title and DR412 (Repossession Affidavit) and Application for New Title. Lien-holder may sell vehicle without first applying for new title. Plates: Remain with the owner / debtor. All recovery requirements and fees are current as of 2002.
What is a mechanics lien foreclosure action in NJ?
A mechanic's lien is often confused with a New Jersey construction lien. Foreclosure of a construction lien is an action brought in Superior Court by the lienor (the person or company who filed the lien). In the action, the lienor seeks to recover amounts owed for construction services or materials supplied to the owner (or contractor if the lienor is a subcontractor). The "foreclosure" part of the action is an action to foreclose on the property and, if the lienor is successful, forcing of a sale of the property, the funds from which are used to satisfy the lienor's amount due.
What Fees are to be paid for transferring a car to Texas?
From the TX-DMV website:
"n Texas, car registration is handled by the Texas Department of Transportation (TxDOT), while driver licensing is handled by the Department of Public Safety, Driver License Division. The paperwork and collection of fees for vehicle registration is usually handled by the County Tax Assessor-Collectors office in the area where you reside. Some processes in remote areas can be accomplished at county subcontractors―these can be in grocery stores, other offices, and almost anywhere. Most vehicle registration fees will run about $70, but these vary from county to county based on special assessments approved by local voters. You will also have the choice of selecting from many types of special license plates for an additional fee. In general, registering small trucks―even new ones―will cost less than registering even an older passenger-only vehicle. Texas is the land of pickup trucks, and passenger-only cars are considered, and taxed, as something of a luxury."
And here is the link for the Department of Transportation: http://www.dot.state.tx.us/services/vehicle_titles_and_registration/default.htm
How long does a lender have to sue you for the deficiency of an auto loan?
As long as it takes. 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.
Can a recorded lien be sold or assigned?
Yes. It can be sold and then an assignment of the lien must be recorded in the land records so that anyone checking the title to the property can contact the lien holder. If mortgages are not properly assigned as of "record" and the owner by an unrecorded assignment forecloses that foreclosure may be deemed defective.
Does Raleigh North Carolina have a concealment law?
Do You mean a 'concealed carry" law?
AnswerSince he posted in this category, I think he wants to know if it is illegal to hide a car from the repossession agent. I doubt if Raliegh has such a law, but I'd bet North Carolina does. AnswerMy crysatl ball is fogged up and I cant read the OPs mind, but if that's what you think they want to know. I searched Raleigh City Ordinace and did not find anything about "concealment". I DID find this:Sec. 13-2019. SAME--MASKED PUBLIC APPEARANCE PROHIBITED. It shall be unlawful for any person , while masked, to be or appear on or in any public place in the City . ( Code 1959 , �15-28) You might have been on the money.Are military wages exempt from GARNISHMENT?
No. Military wages can be garnished just like any other wage.
The question is not quite clear, however, I will try to provide an answer. I am assuming that you are the renter and you contracted with an unscrupulous contractor. Since the contract is between you and the contractor, you will not be able to lien the property to get your money back as the landlord was not part of the contract. There may be restrictions in your rental agreement that prevents any modifications to the property without the landlords consent. Provided that you have proof of payment and a formal written agreement, you may need to go to small claims court. In California, contractors are not allowed to take deposits over 10% or $1000 dollars, whichever is less. Depending upon how much you gave them as a down payment, there may be a legal violation that can be addressed also, depending upon the laws in your state.
What is a deficiency judgment?
A deficiency judgment is where the owner of a mortgage or deed of trust is awarded a judgment against the borrower in the amount of: the amount of money owed in the mortgage or deed of trust minus the amount of money the property sold for at foreclosure sale If the above amount is a positive number, some states allow the lender to get a judgment for that amount.
Can furniture be repossessed without a warrant?
Yes your furniture can be repossesed without a warrant, but those who are repossesing your furniture must have permission from a owner or guardian of the house to be in the house.
