Repossession

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.

No

No.

Yes as long as he does not go into a garage or cuts a lock to enter through a fence

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.

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.

Here is how this works. A dealer agrees to sell you a car at $15,000 you negotiated him down from 19,000. You're getting a good deal.

You ask the bank for money, they tell you no. So you can't buy the car. The bank isn't forced to do anything and if you don't understand this, you really aren't in a situation to buy a car if you really don't know how these things work.

Learn about life, then buy a car. Btw, i'm 21, i own a car that i paid cash for because its hard to get credit with a high debt to income ratio, meaning i have college loans, and a part-time job.

They won't give you money if they think you can't afford it, even if you think/think you know you can.

Friends, family, or possible negotiation with lender. The note is your and the cosigners responsibility. Perhaps the best option might be to sell the car, pay off the loan and buy something within your budget.

legal/administrative

Leasee

You are guilty of grand theft auto.

You and your insurance company are responsible.

Although I am not a professional of any sort when it comes to financial issues I can say that when you purchase a large ticket item such as a car you are usually given a monthly payment if the car is financed through a bank or any other lending option. When you sign all your paperwork they explain to the buyer what the interest rate will be on the loan amount at the time of purchase. I am not sure I have heard of a car buying option where the payment for the principal balance of the loan is made separate from the interest but if that is the case I think they have every legal right to take the car back if you are not holding up your end of the bargain. Although you did make all of your contractual payments, interest is indeed part of the contract you signed when purchasing the car. Banks do not usually give loans for free. They are offering you a service when they lend you a large amount of money to purchase a car or a home and in return you are required by law to pay the pre agreed fees. Until the loan is paid in full including interest the car is not legally yours and they will not release the pink slip until it is paid in full.

There is nothing that says they must stop after a specific number of attempts, in fact they may never stop until they get the vehicle. Some lenders may stop sending the recovery agent after several months and just get a court order to have the local sheriff pick it up. In some states this action is called a replevin action, in others it may be a right of sequestrian or writ of detinue.

Yes it is a crime! In NC depending on what the automobile cost it could even be considered a felony. It's called "secreting property", thats when the property has had several attempts to collect on it and its nowhere to be found. Then a criminal charge of "secreting property is taken out against the borrower. The borrower is then arrested.

Generally not. A signed contract is generally binding and requires both parties agree to terminate the contract and create a new one.

A family's finance deployability checklist will prompt you to make arrangements for car payments.

Call your finance company.

Yes they can.

No, but depending on which state you live in your division of motor vehicles (or equivalent) can fine you hundreds of dollars for not having insurance.

What state

repesession

Yes, and you should report to protect yourself if that gun is used in the commission of a crime.

no