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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 make payments even though your car is up for a repossession?
Yes you can. The main interest of the financial institution or or owner of the property is to have the property paid for.
Can a dealership repo a car for not paying all downpayment?
A "car dealership" CAN NOT legally repossess a car for any reason unless the are operating as a financial institution (bank/ Lien holder). And they had better be license as a bank if they are. (New York).
Will i have to pay for a faulty repair to my car?
As long as the mechanic who preformed the faulty repair admits to it, and is willing to re-repair it, then no you will not have to pay. If the mechanic does not claim responsibility and refuses to fix the faulty repair, take it to small claims court and make sure to bring your invoice, receipt, and proof or pictures of the damage.
How ever long
it takes you to get the title & registra to betion. And I assume you would want the car to be paid off.
Can you trade in a vehicle that has been charged off?
You can trade it in but the dealer will have to pay it off before consumating any deal he has with you. Charging it off does not relieve you of the debt nor does it erase the lien on the title.
What if you are in jail and cant retrieve property from your vehicle that was impounded?
You have a legal question. If you are in jail in the United States you should have seen a judge and been assigned a lawyer. In this state such questions should have been answered already. What you mean by impounded can vary.
If you were drunk and in a brawl and they threw you in the drunk tank until you sobered up, your car will be impounded until you pay storage and towing. In that case, the stuff in your car will stay there until you come up with the money.
If you are in jail waiting trial and they have not told you the procedure, ask your lawyer. (In this state there is a normal procedure that takes care of such a situation in this state. You use an inmate request form to get information about it.)
Can your car be repossessed due to lack of insurance?
No, but it can be impounded by the police. Lack of insurance is a crime, generally a misdemeanor, but if the degree is severe enough the police can impound it as evidence in a criminal case. To get your car back, you would need to provide proof of insurance, a valid driver's license for the owner of the car and the insurance, and pay the fine for the crime as well as the storage fees for the car while it was in the impound lot.
Repossession is done when you have failed to pay on the car loan. In essence, a car loan is a secured loan - if you don't pay the money, the loaning institution can take the car and sell it to pay off the loan.
What should you do if your car is paid off and dealer hasn't given the title?
Contact the dealer or finance company, whoever has the title, and ask them to send it to you. If they refuse, you may have to contact an attorney.
How do you get the car if you are the cosigner and making the payments?
As the cosigner on the contract, you are an equal owner of the vehicle. You cannot steal your own property. But, if you choose to simply go and pick up the vehicle, contact local law enforcement to let them know your intent and the reason so that when the party who currently has possession of the vehicle comes out to their empty driveway, LEOs know the vehicle was not stolen.
You might be required to get a notice or order from your local court, possibly a writ of repossession. Contact the clerk's office of your local jurisdiction and ask; they will likely be happy to help you with this info.
Your other option, if you do not want the vehicle, is to contact the finance company and discuss possible voluntary repossession. You may need to seek legal assistance to have your name removed from the contract, and be prepared to show/prove you made the payments and the other party did not.
Can a finance company charge off an auto loan collect past due balance and still repo it?
If they have collected the entire amount owing (all principal and interest on the original loan) they have no legal right to repo the auto. If they have only collected the past due amount and there's still a sum due, then they can repo the auto. It doesn't matter one bit if they've charged it off. That's just for their tax purposes.
REPOMAN IN TEXAS: YES, THEY CAN WRITE IT OFF (CHARGE-OFF) AFTER A CERTAIN TIME WHEN THE PREVIOUS REPO COMPANY CAN'T FIND IT. LATER THEY HIRE A BETTER RECOVERY COMPANY TO FIND IT AND RECOVER IT.
What reasons can you give to defer a car loan?
You can defer a car payment for many reasons such as:
- Recent job lay off
- Payroll change date
- income change
Most lenders will allow 2-3 car payment deferments per year after you have made a minimum of 12 payments. Car payment help is available.
Hope this helps
What can occur when a person owes more money than he or she can earn or pay to creditors?
A person can lose everything he or she owns when creditors move in to collect what they are owed. A person might have to go through bankruptcy.
Can repossession companies find out where your car is registered?
Of course. They have the VIN and are the legal owners until you pay it off.
What happens if you cant make a final payment to your lawyer before your trial?
That is up to the lawyer
If the cosigner is on the title can they take vehicle if person is not making the payments?
Yes..... I did
There are two bits of info you left out. Even though you sold the car 4 years ago is it possible you had it towed before you sold it? Check your dates of the tow and the sale. Go to your local DMV to make your name is still not on it.
Do you still have to pay car payment to the car dealership if your car was a write off?
It depends. Normally, if you car was repossessed, the finance company will "write off" the balance, but that does not mean you don't have to pay it. The company normally sells the car at an auction and you owe any deficiency balance. In other words, if you owe $10,000 on the car and it only sells for $6000, you will owe the $4000 difference.
Can a repo company come onto private property to obtain vehicle in the state of TN?
Yes as long as he does not go into a garage or cuts a lock to enter through a fence
Can wages be garnished for a repossession in NJ?
Yes, wages can be garnished for a repossession in New Jersey, but only under certain conditions. If a creditor obtains a court judgment against you for the unpaid debt related to the repossession, they can seek a wage garnishment. However, New Jersey has specific limits on how much can be garnished from your wages, typically up to 10% of your gross income. It's advisable to seek legal counsel to understand your rights and options in such situations.
What repo company are in texarkana?
In Texarkana, several repossession companies operate, including local branches of national firms like Recovery Specialists and local businesses such as Texarkana Recovery Services. These companies specialize in recovering vehicles and other collateral for lenders. Additionally, you may find smaller, independent repossession agencies serving the area. It's advisable to check local listings for the most accurate and updated information.
