Repossession

First, get all 3 of your credit reports (free for the first request in 1 year). Review each item. Look for accuracy-- and mistakes. If you find any mistakes, talk to the creditor -- the company to which you owed or paid the bill.

Second, make up a current budget that lists every monthly bill you now owe. Circle items that you can do without. For example, premium TV channels is one that people often discontinue in order to free up money. Determine, after paying every current bill, how much you have left to pay old debts.

Third, look back on the Credit Reports. List each bill you still, legally, owe -- including the car. Pick 2 of the smallest debts first -- or any number that adds up to a small reasonable amount of money. For those small debts, call the creditor -- the original place you owed the bill, not a credit company. Tell the original creditor that you want to pay off the entire (small) balance. Make sure you get a receipt marked paid in full. You can use that receipt to send to a credit company. Payment will not immediately remove a "bad mark" on your credit, BUT paying it will help because those paid entries will start to improve your credit picture.

Fourth, pick a credit card or item on your credit report with the highest balance - or for credit card, the one with the highest interest. From your budget apply as much money as you can to that debt every month. A place like Consumer Credit Counseling can possibly get the total reduced, IF you agree to pay through them at their agency.

Fifth, take a special look at the repossession. Consult a credit counselor about whether it is to your advantage to pay it off. An attorney can tell you if you are legally obligated to pay off the total that had been owed. You may find that, legally, that debt is still your responsibility.

Sixth, get a bank debit card-- it pays from money you HAVE and you cannot charge anything.

Seventh, make sure in your budget to SAVE. Even if ALL you can save is $3.00 to 10.00 a month, you'll have more in savings than you have today. Enroll in online banking and set up an automatic payment to a separate account or credit union account. Some people open a "Christmas Club Savings" -- however you choose, just start saving-- NOW. Make a strong deal with yourself-- "Under no circumstances will I touch that little bit of savings."

Eighth, do NOT use "Credit Repair" companies. Many of them promise everything but do nothing. YOU can begin to repair your credit yourself. But, it takes time and determined dedication!

It depends on your contract.

Usually if you miss two payments the finance company (not the company that sold you the car - they already have their money) will start taking actions to repossess your car.

In the UK, if you have made more than half the payments, you can (if you want) hand the keys over and owe the finance company nothing (assuming it was bought with a car loan or HP).

If you get into arrears with your car finance before you are half way through your term, chances are when your car is repossessed you will still owe the finance company more money, especially if you bought a new car or if you used a dealer who tricked you into reducing your monthly payments by leaving a lump sum to pay at the end of the finance term.

On a personal note, you should NEVER buy a car (or any other non essential item) on finance. If you can't afford a nice shiny new car with your own money, buy a cheap rusty one that will keep you on the road in the short term. Then put aside the payments (including interest) that you would have had to make for the car you wanted - open an e-savings account and set up a standing order from your current account to your savings account, treat it just like you were making payments to a finance company - and DON'T dip into it when you're short. If your cheap rusty car only lasts 12 months, then buy a better one when it dies (or fails its MOT) with the money you've saved and carry on saving the payments. If you were going to buy a little Ka or similar, you would probably be paying £200 a month for it for the next 4 years, with massive restrictions on the mileage you were allowed to do (usually 6000 miles a year before penalties) and at the end of the four years you would not own the car and would have paid nearly £10,000 for a car 'worth' about £6,000.

If you do what I suggest after 3 years you would be able to walk into the car showroom and buy the car with cash!

If you were unable to keep up the payments to yourself ( i.e. save the money on a regular basis) then you would probably have found yourself defaulting on payments made to a finance company and have lost your shiny new car anyhow.

It gets placed in the junkyard. In order to get the vehicle back you must you pay your bill, as well as pay your local junkyard company to get your car back.

Yes, it is very common, Whenever you move from one state to another you will need to pick up a new insurance policy unless your Insurance Company is a national insurer and then you can register your vehicle in your new state of residence.

There is no fee, just call the storage place and find out what day it is on and go.

The remaining payments are usually rolled into your new car loan. The dealership cannot transfer the title into their name without the vehicle loan being paid off.

A voluntary reposession, where you turn the car over to the repossessing agency (not necessarily the dealership), is almost always going to work out better for you than making them come after it. For one thing, you'll avoid having the cost of the repossession (probably several hundred dollars) added to what you owe on the car. You also get a bit more leverage to negotiate a time that's convenient for you ("I'll drop it off on Saturday"), instead of just coming out of work one day and finding that you have no way of getting home.

Take a loan from the bank...........

Yup!

If you are in a Chapter 13 plan, you have to get permission to pay off a vehicle or sell a vehicle that is included in your plan.

It would depend on the situation. In most cases, no, you won't go to jail.

If you are intoxicated, or in a stolen car, or driving without a license, yes, you could certainly go to jail. And you could certainly be fined and/or lose your license.

It depends how you where driving and if you meaning to cause the crash and there are many other legal issues.

you will go to jail if you are a drunk driver or if it was a hit and run or if you were drug taking or underage. You can also get arrested but only for a few hours until they uncover the story and then the other person can sue you or claim on you meaning you get fined. If you weren't the one that crashed the car then you have nothing to worry about and you can also claim expenses from the other driver.

yes!

This totally depends on the specific towing company.

yes

if the principal loanholder defaults you will be stuck with the payments.Miss them and your credit can go VERY BAD!

1 sec sorry 100000000000 years

No

As far as finance company is concerned the car came with wheels, it has wheels on it when repoed.

Done deal.

Nothing I believe they only repossess your car if your a month or more off on your payments

The question is a little confusing. If a vehicle has been repossessed then it would no longer be in the possession of the person(s) who made the purchase agreement or to whom the vehicle was registered.

If what is meant is can a vehicle subject to repossession be taken out of the state to avoid such action, then the answer would be yes. But it is unlikely that would happen unless the lien holder decided to file it as a stolen vehicle. Which in some states would be perfectly legal and that would mean the person moving the vehicle to another state would encounter some serious legal problems.

You could call the police and report it stolen.

If the dealer ship financed the vehicle, or represents the financing party, such Ford Finance, or GMAC, then yes they can.

Morning or afternoon at any time will be great to open my doors to you pch members staff pch , you very welcome

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

vw karmann ghia

If you have a bad credit report from a loan in default a lender wouldn't want your guaranty that the primary borrower's loan will be paid by you if they default.

If you have a bad credit report from a loan in default a lender wouldn't want your guaranty that the primary borrower's loan will be paid by you if they default.

If you have a bad credit report from a loan in default a lender wouldn't want your guaranty that the primary borrower's loan will be paid by you if they default.

If you have a bad credit report from a loan in default a lender wouldn't want your guaranty that the primary borrower's loan will be paid by you if they default.

Generally, you cannot take anyone's ownership rights away from them. That must be done by them voluntarily or by a court order.

Generally, you cannot take anyone's ownership rights away from them. That must be done by them voluntarily or by a court order.

Generally, you cannot take anyone's ownership rights away from them. That must be done by them voluntarily or by a court order.

Generally, you cannot take anyone's ownership rights away from them. That must be done by them voluntarily or by a court order.