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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
When buying a car if your a first time buyer do you have to put down a down payment?
Depends on the policy (rules) adopted by the seller. It's not a law in most places.
dear sir i am intrested in haldiram product can you advise me
how to get dealership in qatar or nepal please inform me if some body have already dealership there thankyou
What is the statute of limitations of charge off auto loans in Virginia?
If you defaulted on a car loan, most states have a statutes of limitation of 10 years. Even though the lender may have "charged off" the debt, the debt could and probably has been sold o a collection agency. You can protect yourself from the Collection Agency from harassing you by sending them , by registered , a letter requesting Validation Of The DEbt. The Collection Company has to stop calling you and the must provide proof of the original loan and a signed copy of the contract, a license showing that they CAN collect the debt, and proof that they, indeed , have purchased the loan from the original creditor and the necessary paperwork to prove it. Most collection companies cannot obtain that information so is that is the case, you can contact the credit bureau that has it listed as a bad debt and showing the proof that you did contact the collection agency and received no response, the have to remove it from your credit report. If , in fact the collection agency DID report this questionable loan as delinquent without any of the above proof, you can sue them for defamation of character.
What happens when car loan is paid off but late charges are due?
THEN THE LOAN IS NOT PAID OFF!
All late charges, penalties are added to the principle amount and then the payments continue until all owed monies are paid.
Penalties and repossession are still done at this point in the process
How do you make payments to ServiceMaster Acceptance Company?
The only way to pay SMAC at this time is to either mail them a check or call and do a payment over the phone. They charge $3 to take a phone payment. They do take payments online as of now.
Need to fine my car it got repo?
i havent made payments on my car since january 2012. how can i check if my car is going to be reposessed for non payment. without calling the company i bought it from. is thetre a ;list of cars by make and license plate numbers
Can you sue after your home is taken by the bank?
The answer is, yes, you can sue anyone for any reason. However, if you default on your home loan the bank forecloses, you will probably not win as long as the bank followed all the laws for wherever you are located.
Who can apply for car loan after bankruptcy filing?
Assuming the bankruptcy has gone to discharge, the debtor can apply for a car loan almost immediately, as long as the income is enough to qualify. You will pay a high interest rate, though, if you make the payments on time for a year or so, you may be able to refinance. Watch out for "we finance here" dealers. They are often not licensed as lenders and will have you sign a document with a lot of blank spaces. Don't do it.
Go to a credit union or a small local bank, if possible.
If the bankruptcy is still pending, you need permission from the court.
It would be the (REBATE) A+
Can you insure a car in a different state that is registered in a different state?
No. The Insurance Policy must reflect the garaging address in the very State in which the vehicle is licensed for road use. However, once insured in one State, for example, Arkansas, the vehicle is covered to drive any where in the United States of America. There are certain companies that will allow drivers to be listed on policies with out of State Drivers License.
What is the bank loan value of your car?
It's Depends on you earning and and documents you submitted for car loan.
transportaion/auto
What happens if you buy a vehicle privately by cash and the seller does not pay their loan?
Try to make him pay off his loan or you will have to pay it off cuz you cant register it. I know you can junk or sell a car with a loan on it. So i would take him to cort for fraud.
How is a Car born in the Movie Cars or Cars 2?
With CGI-animation, it's a cartoon seriously what the hell kind of question is that?
Can a car dealership sell a unregistered car?
I don't know about car dealerships in particular, and this answer may vary by state, but I've bought and sold a lot of cars so hopefully this will offer a bit of help.
You can own a car that's unregistered (or even untitled) but you can't drive it or park it on the road. Many project cars are sold in an non-running state and there's no reason to register a non-running car. However, when the state transfers the title, they will probably charge the new owner the fee for the registration at that point (because they can).
If the car is moving from one state to another, then the new owner simply takes it in to register in his/her state -- the previous registration (or lack there of) holds no bearing. They only care about the Title (and maybe an inspection -- depends on the state).
The Title is the key to car sales -- the registration is basically a fee to the state for use of the roads, it isn't part of the car's oownership at all. Most car dealerships have all of their cars covered under special "dealer plates" that negate the per-car registration system that the rest of us use... so they're under a different set of rules there.
So as far as I know the registration is moot for dealerships... they care about the title. The title is the actual ownership papers. When you buy a car with a car loan (ie 'under lien'), the car actually belongs to the bank, not you; they hold the title -- you get a special piece of paperwork that looks fancy with lots of writing and gives you the right to register it, but you do NOT hold the title...they'll mail it to you after you complete all your payments. So...anyhoo, if a car has been repossessed then the owner (the bank) can give anyone else the right to register it for them as they please, wherever they please, the registration holds no bearing on the ownership or sale of the vehicle.
If you are buying a car from a dealership, I believe that they usually include the first registration in the closing costs of the deal -- otherwise is isn't legal to drive the car home! It would be something to ask the dealer if you are buying a used car that has plates already, just to be sure.
It depends upon the laws of the state in which the vehicle is sold and/or to be titled.
Engaging in a self help solution (repossession of vehicle) may not be the best choice, as it could possibly legally complicate matters further. The best option if for the seller to contact the state DMV explain the situation and obtain factual information according to the current laws.
Is the cosigner responsible for tickets for the car?
Absolutely not, unless they were the driver. It is the driver's responsibility.
However, the co-signer may be realizing they are in a difficult position. The car may become impounded if the tickets are not paid. The impound fees will accumulate and the primary borrower is likely to abandon the car. Bang! Unless the co-signer pays all those expenses the loan will go into default and the co-signer's credit record will be ruined. Co-signing carries huge risks.
Can you get a repossed car back after wage garnishment is paid off?
it depends on the terms of the contracts. you just need to go through your paperwork and look through the fine print. or just call and ask, but its all dependent on your contract
How do you get the money you put into a repossession of a car back?
That is not possible to recover money that has been invested into a car that has been repossessed. Usually there is a 10 day grace period to recover personal possessions from within the vehicle. If you want to recover money invested into the auto, try to get the vehicle back from the bank. Good luck!
Does an auto co-signer have to put the car in their name?
In most circumstances, both names (the person who bought the car as well as the co-signer) will appear on the ownership papers, and/or on the loan for the car. With respect to co-signing a car loan, if one person fails to make the payments, the co-signer is considered liable. I enclose a link about this.
How do you repossess a vehicle if owner is deceased?
If the owner had a lean on the vehicle it can't legally be transferred from his name, so technically you should still be able (with rep papers of course) to collect the vehicle from the estate or a family member who may have it stored from his death.
Be very courteous however because they may become violent as you will upset them in remembering their deceased relative.
Can a repo man repossess a car on private property behind a locked fence?
This depends upon the local jurisdiction and the laws pertaining to this activity. The legal authority given to a repo man may well nullify normal civil protection.
Can your truck be repossessed if you are using it for income?
Yes, your truck can be repossessed even if you are using it to earn an income, however, you can tell your creditor that you are earning money with your truck, and that if the creditor does not repossess the truck you will use that income to make payments on your loan. Of course, if you are not making payments, and spending all of your income on other things, then the creditor has no motive to let you keep the truck.
