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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
Is it legal to have an uninsured car in your driveway?
It will differ from state to state, but some states it is illegal.
If it's your land, then there should be no problem. If your driveway is on rented land, meaning you don't own it, you need to get the permission of the landloard/landowner.
It would be advisable though to carry the barest minimum of insurance, just in case a hail storm damages the vehicle, or a tree branch hits it, or the neighborhood kid rams it with his bike or wagon.
How does a customer know when he or she has been defrauded?
When the customer has paid for a service or product and did not receive what was agreed to, received a much lesser product or service than what was agreed to, received a bogus product or service or received nothing whilst on the other hand the supplier has either disappeared, can not provide the product or service, or argues the compliance of their product or service without equitable justification with the intention of avoiding compensation.
Can someone lease a car and someone else make the payments?
Yes, all the bank cares about is that someone is making the payments.
Can you stop payment on check for used car?
Certainly, although to do so could place you in serious legal difficulties.
How much do clerical purchasing agents make?
I work for a school district and about $15 per hour here. We're paid lower then working for a private company though usually.
Is it legal to drive a car that is supposed to be repossessed?
No. Just know that you may stop somewhere to go shopping and find that you are walking home. Also, you should know that if you were to surrender it, there would be less in repo fees and you are more likely to keep any personal belongings that are in your vehicle.
Can you retrieve personal belongings from a repo car?
Yes you can retrieve personal belongings from your car if it gets repossessed. By law you are allowed 7 days after your car gets repossessed to retrieve your personal belongings.
If your car is stolen can but your car payments are behind can you file a claim?
Yes, you can.
If the insurance company does declare the vehicle to be a "total loss" after a short period, payment will be made by them for the value of the vehicle.
However, the insurance company considers your bank as the "legal owner" and you as the "registered owner" as you both are owners of the car.
Since you bank legally owns the car and has the title, they will insist on paying them first and if there's money left, they'll pay you.
That's where your missed payments might catch up with you.
What happens if the bank closes your acct down can you go to jail for that?
It depends on why the bank closed your account.
No If:
- The bank closed your account because you did not use the account for the past few months or
- The bank closed your account because you did not maintain minimum balance requirements or
Yes If:
a. The bank closed your account because the account was involved in suspicious activities like money laundering
b. The bank closed your account because links to known terrorists or drug dealers were found from your bank account
c. The bank closed your account because you issued checks to people without maintaining sufficient balance in your bank account
gone in sixty seconds
Can a repossession stay on your credit report for more than seven year if debt is not paid?
of course.
debt's just don't disappear.
How do I contact Toyota's main headquarters?
What i would like to know is why do the Toyota Tacoma 2011 model trucks have
a plastic front bumpers that have no protection at all. You would thing paying a
high price for a truck you could have done better. The truck is not worth what i
had to pay for it. 18,640.00 if you all can't make a medial front bumper for the
2011 Tacoma truck then you should be made to buy it back
The only way you could repossess the vehicle legally is if you maintained a lien on the title or if the title remained in your name--and in most states the title was perfected (registered with the state DMV).
Any attempt to take the vehicle back otherwise could result in criminal charges.
Additionally, specific laws must be followed in most states to repossess property. Failing to do so often results in a wrongful repossession and return of the property to the person from whom it was repossessed. Substantial fines and criminal charges can be placed against those who wrongfully repossess.
Does inflation favor lenders or borrowers?
Inflation generally favors those with debt, because the higher prices will drive wages higher and enable a fixed debt to be more quickly paid off.
This is also especially apparent where borrowers can borrow against a higher value of property (e.g. homes) and realize income from the inflated assessment.
Inflation harms lenders and savers because loans and savings do not directly appreciate from inflation.
Is it breach of peace to remove a vehicle from a closed garage?
In some places it is not permitted for a repo man to enter a closed garage. In California, for example, a repo person can come on to private property to locate and take a vehicle, but cannot enter a locked placed, can't go inside the house, can't threaten or bully. This is not universal. In some areas the repo man can break open locks, etc.
If the brother was the signer or co-signer of the loan, he is on the hook for the full amount of the loan until the car is fully paid for. If you default on the loan it goes against his credit rating.
If the brother did not sign the loan, but his name was used, that is identity theft and forgery and may seem petty ... but is a serious felony.
If the brother wants his name off the loan, he could force you to sell the car. Or you could find the money to pay off the car in full. There is almost no way the finance company will ever let a co-signer off of a loan.
Uhh $4530
How do you know if your business needs to be licensed and bonded in foreclosure cleanups?
All businesses need a business license for foreclosure cleanups. Generally you do not need to be bonded, but you will need the general liability insurance. Go down to your local city or county offices and apply for a business license, they are usually under $100 to get one. The banks also require this and general liability insurance to perform foreclosure cleanup services for them. There is a Foreclosure Cleanup Business Start up training guide that provides step by step foreclosure cleanup startup information, we got it when we started our Foreclosure Cleanup Business from the website above and was very helpful, it includes the hud guidelines, you will definitely need these to know how to price your foreclosure cleanup jobs accurately and a complete bank contact list of banks and reo asset management companies hiring foreclosure cleanup vendors so you can sign up directly with the banks to start getting foreclosure cleanup jobs. I would also recommend joining the Foreclosure Cleanup Network, there is alot of free information on there for the Foreclosure Cleanup Business and you can get work from the Reo agents on this site. And it's all free. Good luck.
Check with a lawyer and the local authorities.
You need to take the release form and the title to the DMV. They will issue you a new title without the finance company on it. They will NOT do this until / unless you have the signed title and a release from the finance company / legal owner. The process costs only a few dollars.
How many days before an abandoned vehicle is removed from road?
Depends where it is. If you hide it in a dark alleyway they'll probably take at least a day or less to find it. If you leave it at a parking lot or a 24 hour pay toll they'll probably tow it somewhere else.
