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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 can you do if you know where your stolen property is?
Go and get those possessions from wherever they might be.
the cat that appears on ray william johnson. and me
your mom gets the car!
dont be editing on my answer home skillet.
How does westlake financial services in California repo automobiles in Illinois?
Usually with a tow truck.
How long does it from a solicitors letter to repossession?
It can take some time but depends on the firm and the pursuer. There are further steps required before a repossession (of a property) can take place. A court order has to be granted. The solicitors letter is the first step in the process for recovering a residential property, as it's slightly different for a commercial (business) property. See discussion area attached.
Will a car dealer sell a car if there is no title on the trade in car?
They will not take the no title car on trade.
What happens if you hid your car to prevent repossession?
Have never really experienced this myself, but I cant try and guess.
It could mean they dont get their moneys worth and they will surely soon come for something worth more
What happens if you stop paying on a laptop you were renting?
The laptop will be repossessed and the amount you owe will be increased by late fees, costs and penalties. The default will be reported to your credit record where it will do considerable damage.
The laptop will be repossessed and the amount you owe will be increased by late fees, costs and penalties. The default will be reported to your credit record where it will do considerable damage.
The laptop will be repossessed and the amount you owe will be increased by late fees, costs and penalties. The default will be reported to your credit record where it will do considerable damage.
The laptop will be repossessed and the amount you owe will be increased by late fees, costs and penalties. The default will be reported to your credit record where it will do considerable damage.
Can the finance company file criminal charges on a charged off car loan if the car is not turned in?
Yes. They can file criminal charges since they are the direct owner of the vehicle since you have defaulted on the loan. When you are in repossession status, you really need to not run from them because they have the power to add your VIN number to the police and report as stolen. You do not want to runaway from the lien holder if you are in default. This can lead to Auto Theft or Grand Theft Auto depending on how much the car is worth
Both are at least Class C and B Offenses in most states. So I suggest you return the car ASAP to avoid of getting charged.
Will the total wages of a cosigner be garnished?
This is not likely. Garnishment will occur, but some states put a cap on the amount that can legally be taken by an order of garnishment, and some work child support and other court ordered payments into that percentage. For instance, if you make $1,000.00 per week net, and you pay $200 in child support that is taken from your pay directly, and the state caps the percentage of allowable garnishment at 25%, the most anyone will get from an order of garnishment is $50.
If you are asking where to advertise your car there are three places you need to consider.
Craigslist is free and very active. It is an excellent car shopping site. But because it is free there are a lot of scammers and con artists lurking on Craigslist so you need to be aware of their games and learn how to recognize them and ignore them if approached. Read the FRAUD WARNINGS on the Craigslist site. They have done a very good job of documenting the scammers methods.
AutoTrader is the largest and most widely used automotive classified site on the Internet. But it isn't cheap. But it does produce results and the cost keeps the scammers out. So there is a benefit to spending a few bucks.
Local newspapers. Yes the local newspaper classified ad section is still around and they do produce results. If you have a large local paper you'll probably get some online coverage too.
eBay is a terrible place for an individual to sell a car. What are you going to do if you ahve to deal with a buyer who is 2300 miles away? eBay is also very expensive.
Repokar.com is a new place where you can sell/buy cars very cheap...It is new and I think they don.t make scams, I tried to buy a car from there and I can say it is very safe and easy....
Keep your focus local, make sure your buyers are local and make sure you deal face to face with any potential buyer.
Can a car be repossessed one day after a payment was made?
Sure it can, if that payment was not enough to fufill your end of the contract. A car wont be repossessed if it is only a month behind. If you are five months behind, and make one payment, you are still behind... even the next day, when you are only four months behind. One payment may not catch you up.
When you purchased the car, the deal was, likely, that you get to drive the sellers car, (seller still owns it till the final payment is made), and the seller gets money from you at stated time intervals, likely once per month. If you broke your end of the deal, you no longer have a right to drive the car owned by someone else.
Make those payments on time, then you need never worry about the repo man.
Who owns the car after it is repossessed?
It would go to a car auction and sold on to a new owner and may be sold for a price much less than it is worth
Does having a car in repo effect filing for bankruptcy?
No - having had a car that was re-possessed will not affect the filing of a Bankruptcy.
Can a dealer collect on repo unpaid balance?
Yes - if the car loan was with the dealer, the dealer can sue the debtor for the balance of the car loan after the car is sold to someone else.
How do you get in the car auction?
Car auctions are usually posted in the internet. There are car auctions that specifically allow car dealers only while others are open to the public.
Can you insure a car that has been totaled?
Not while still "totaled". Since everything is tracked by the VIN# you won't be able to insure a totaled vehicle until such time that it's made roadworthy and has a reconstructed title.
How soon can a car be repoed after filing chapter 7 bankruptcy?
Because of the "automatic stay", which goes into affect as soon as a Bankruptcy is filed, your car cannot be re-possessed while the Bankruptcy is in progress (unless the creditor files a motion with the court asking for relief from the automatic stay). However, as soon as the Bankruptcy is discharged or closed - which occurs approximately 6 months after it is filed - the car can be re-possessed.
What happens when you have a car loan and you cant pay it?
It gets repossessed. You can contact the lender and see if they will do a voluntary repossession where you give them the car or they will at some point do an involuntary where the repo man shows up and takes the car.
Answer
Wash the car and show up at the dealership. Get a ride home.
Can they repo if payment is less than 30 days late?
Yes, they can repo your vehicle if it is even one day late. Check your contract, though. It might tell you how long exactly you have. If it gives you a time period of, say, two months and they repo it after one month, then you may be able to get your car back because they breached the contract. However, if there is no guaranteed grace period, that probably means they can repo it anytime you default on your loan.
Can the bank repossess your fathers car after his death?
You need to ask an attorney. In general, for a secured loan (title of the car is the security) if the loan is not paid, the leinholder (the bank) takes back the property they have not been paid for.
Can repo men come in your garage?
Yes
In most places hiding the car from the repo man is illegal.
If he is sure the car is in there he can enter a storage place and reposes the car.
But he is not allowed to intimidate or do violence to the person or property damage to make the repossession.
What price must a company typically pay to buy another company?
the price will include some premium over the current market value of the target's equity.
Can you repo a car you co signed for?
Only if you took the necessary steps to make that possible in the case of a default. If you didn't you may need to sue the primary borrower in court. In any case, you are fully responsible for paying the loan.
Only if you took the necessary steps to make that possible in the case of a default. If you didn't you may need to sue the primary borrower in court. In any case, you are fully responsible for paying the loan.
Only if you took the necessary steps to make that possible in the case of a default. If you didn't you may need to sue the primary borrower in court. In any case, you are fully responsible for paying the loan.
Only if you took the necessary steps to make that possible in the case of a default. If you didn't you may need to sue the primary borrower in court. In any case, you are fully responsible for paying the loan.
