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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 sell a car while it is impounded and have the new owner get it?
Technically, yes, as long as the new owner is aware of this fact and agrees to it. It could potentially make reclaiming it from impound more difficult, though, so the new owner might insist that you accompany him/her.
Can an employer in Michigan charge a fee to administer garnished wages?
No.. Employer receive from the Plaintiff the court approved fee of $6.00, to fill in the paperwork for the duration of the garnishment period
Does the repo man have to leave if you tell him to?
Before I begin, please realize that repossession agents understand that we all get into difficult situations. The job that repo agents do is not easy. They have families, and they have seen your situation so many times, it is not difficult for them to put themselves in your shoes. What ever led to the situation of you losing your vehicle, it was not the making of the repo agent. He is only there to do a job.
Now, it depends. If the agent is carrying a legitimate order for repossession (and they all will be), and the vehicle is present and in a towable position, then no. He as the agent of the lender has every right to be there to recover the property of the lender, especially considering you likely signed a recovery agreement with the lender when you bought the vehicle.
If the vehicle is not visible, or is not in a towable position, he has the right and obligation to act in the best interest of the lender to make contact and demand the vehicle be surrendered. Many will not do this on the first or even the second visit, preferring rather to "hook and book."
If however, he has discharged his obligations and you refuse to surrender the vehicle, requesting instead that he leave, then the property being private, he has to honor your wishes. For the moment.
Keep in mind though that this will not make the repo agent happy (I'll get back to this in a moment), now will it endear you with the lender.
The lender has several areas of recourse should a debtor refuse to surrender a vehicle on which they have defaulted. Chief among these is to obtain a replevin. A replevin is an order from the court to surrender the vehicle. The repo agent will return to once again demand the vehicle, only this time accompanied by law enforcement. You will either surrender the vehicle at that time or you will be arrested for contempt of court.
Should you have any other contracts with the same lender, even if they have not been degaulted, the lender can seek a conversion of collateral and take that property instead.
The lender can sue you for the balance and recovery fees (along with court costs and legal fees) and this opens up their latitude for recovery.
Now, keep in mind that the sole purpose of repossession agents is to locate and recover vehicles. This is what they do 8-16 hours a day, up to seven days a week. Many are on call 24/7. Most are very good at what they do. Many have people like me, who are exceptionally good at what they do, working for them who do nothing but locate vehicles and other assets.
Let me apply a metaphor to this situation: Say you are being chased by a group of people with hungry bloodhounds. You are running, trying to hide while at the same time carrying with you a bloody, raw steak. It is not a question of if the dogs will find you. It is a question of when and where you will be when they do.
That being said, most of the repossession agents I know have a favorite location for recovery of difficult vehicles. They will literally watch for you, and when they see you pull into the Winn Dixie or Walmart, they will wait for you to walk into the store, hook up to your vehicle, pull it to the side, and wait for you walk out with your kids and your ice cream melting and they drive away waving with your car on the back of the truck.
Additionally, they need not watch for you themselves. Many repo companies now employ camera cars. A camera car is usually a fuel efficient vehicle with six to ten cameras mounted on it that are driven by image recognition software. When they spot a vehicle that matches the description of one that is in the system for repossession, the computer sends out an alert. The camera car driver will verify the VIN and contact the alerting agency who will dispatch the repossession agent to that location to recover it. If the vehicle moves, the camera car will follow, maintaining visual custody and reporting the new location.
If you have defaulted on your loan contract, you can run, you can hide, but not forever, and time is on the side of repossession.
Do you need to pay for any fee to DMV if car repossessed?
It really depends on your state. I would check the dmv.gov extension for your state and search repossesion in the search field box to get a definite answer.
How long does consumer portfolio services allow you to miss payment before they repo?
I know that CPS bought my car loan from another lender, they are NOT the bank that I origionally signed with. However, less than a week ago my payment bounced. I am 4 years into my loan. I was not even aware of this until I recieved 12 phone calls while I was at work. When I tried to call the "manager" back on the number he provided he never answered or returned my calls. I called the main number and a man told me if I couldn't pay the payment today to clean out my car as it would be reposessed this weekend. (this happened on Friday) I told him I would call with the payment Monday morning and he said he couldn't stop the reposession order. I have had my car hidden for the weekend and will make the payment Monday morning, but this company is aweful.
Can the towing company force the owner to pick up the impounded car The owner abandoned it already?
The laws of towing and impounding vary from state to state. In Washington state, the towing company can not force anyone to redeem a vehicle from the impound lot. But after 21 days they can auction the vehicle to the highest bidder. The price that the vehicle sells for at the auction is deducted from the amount owed to the towing company. The balance DOES have to be paid by the registered owner, or it will be turned over to collections. Also according to RCW 46.55 the last registered owner of record is responsible for the fees of towing and storage of an abandoned vehicle. Failure to pay will result in a traffic infraction (failure to redeem) under 46.63. A lean will be placed against the registered owners license and any attempt to renew his or her license will denied until the deficiency and all penalties (collection fees) have been satisfied under RCW 46.63 and RCW 46.55.140. Once again these are Washington State laws, but most other states are similar to this. The other method used by some states is that the towing company is not required to auction the abandoned vehicle and after a certain amount of time, it is awarded to them as payment. These states usually to not permit the tow company to turn the balance over to collections and that would be the end of it. Once again you would need to check the towing and impounding laws of your particular state to find out for certain what their policy is.
The same thing you do about anyone else stealing it. You would have to file a police report and prosecute him.
Can you take bankruptcy on joint car loan?
Yes, but the bankrupcty applies only to the person filing. The other party would still owe the debt.
You have no rights to recover the car. Once it has been repossessed the lien holder has every right to sale the car any way they wish to settle the loan.
Can a cosigner for a car loan change their mind?
They certainly can. Right up to the time they must sign their name to the loan documents.
They certainly can. Right up to the time they must sign their name to the loan documents.
They certainly can. Right up to the time they must sign their name to the loan documents.
They certainly can. Right up to the time they must sign their name to the loan documents.
What is the over turning of vehicle in circular track?
Over turning of a vehicle in circular path is that the vehicle seeks towards the center(turning towards center) instead of its original path. The condition for overturning is given by
v^2 > g*a*R/h
where v is the vehicle speed,g is the acc. due to gravity, a is the distance between the CG and the front axle, R is the radius of the circular path(road,track), h is the height of CG from the road level.
If the condition is true then overturning occurs.
Can a car be repossessed if the owner dies before the first payment is due?
The car can be repossessed. The estate is responsible to return the vehicle and resolve the lease or loan.
Yes, you may take them to Civil court. However, having a written agreement would hold up better.
It depends on state law and the policy of the car lot. If state law does not require the auto dealer to take returns, then they probably won't do it. Most car lots don't.
Can a car company take payment then repossess?
Basically... probably yes. You should check the terms of your loan contract closely, but most likely it says, prettied up in lawyer-talk, "If you are even one day late with the payment, we can take the car back, sell it, and charge you for the expense of doing so plus the difference between what we sell it for and what you still owe. Also, if we accept a late or partial payment once, it doesn't change the terms of the contract or obligate us to do so again, and we can still repossess the car if you're not current on your payments."
How do you get your car back legally from the people who bought it?
It depends on what you mean. Do you mean from someone (a third party) who purchased your car from the finance company after the finance company repossessed it from you? If so, there's not really too much you can do other than find the person and make them and offer.
Can wages be garnished over a repossession in Oklahoma?
If they have followed the laws and have a court order, yes.
What is the procedure for repossessing a vehicle on private property in Florida?
You need not notify the vehicle owner.
It can be repossessed from a private driveway or yard. You cannot break into a garage nor threaten the owner with violence.
The person doing the repossession must be licensed by the State.
Within five days, you must send written notification to the owner, telling him to come get his personal belongings that were in the vehicle.
Can your vehicle be removed from a locked garage in Texas?
Not without a replevin order from the court of jurisdicition.
Can a vehicle be repossessed from a locked garage in Texas?
The car can only be repossessed from a locked garage if the car is spotted in the garage from a window or a crack, but the repo company cannot enter the garage if the car was not visibly spotted.
What are Michigans laws on auto concealment?
FNFNC, if it is lawful to carry openly in the state of Michigan without CCW, what, in your opinion, is the advantage of obtaining CCW? The law, from what I can tell, says unloaded in the trunk while driving.e
Can an auto repair shop hold my vehicle if i don't pay the full bill?
Yes. They can put what's called a mechanic's lien on the vehicle.
If you have bad credit what kind of interest will you pay with car loans?
It really depends on your credit score, and where you are getting the loan from. Anything below 640 is sub-optimal and if you are below 500, you can be refused. There are lenders that will lend to people with less than perfect credit, but I've heard the interest rate can be around %20!
