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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 typical for the bank not to notify you of repossession?

They would normally send you statements reminding you that your balance is past due, and the vehicle could be repossessed if the matter isn't settled. The creditor normally won't inform you of when the order for repossession actually is sent out, and you won't normally be informed that your vehicle is being repossessed until the repo man shows up to claim it.

How do you reach Sabic SMO buyer for Industrial Services?

If you want to reached SABIC SMO contact the buyers their.

Can a friend stop a repo man from taking a car from their private property?

Repossession laws vary from state to state. Typically, if the vehicle is behind (or in) a locked enclosure, they cannot enter and take it.

Can you still owe money after your car is repossessed and you are bankrupt?

You still owe the balance after the insurance money is paid, if there is a balance. You can only get rid of it, along with your other unsecured debts, by filing bankruptcy.

Can the police impound your car if you are present?

Yes, if the offence has been committed, and it calls for a tow and impound, even if you are in the car and it is illegally parked, say good by

How do you claim centrelink payments?

To claim Centrelink payments in Australia, you need to complete the relevant application process for the specific payment you're seeking, such as JobSeeker or Youth Allowance. This can typically be done online through your Centrelink online account or the MyGov website. You'll need to provide personal details, income information, and any required documentation. After submitting your claim, Centrelink will assess your eligibility and notify you of the outcome.

How much is a mersades car payment per month?

Depends on what car. My dad works selling Mercedes and he has one that's cheaper than his old Honda Pilot. That is a very small C class though.

When can your credit report be reviewed by a lender or other entity?

when you ask said lender for a loan, you will sign a release that allows them to obtain your credit report and show it to you.
If you are applying for credit, you may give permission for a credit review. Otherwise, your credit cannot be reviewed without your permission.

Can you get car insurance on a friends car?

Insurance for a Friends car.Yes you can so long as you also schedule the owner as an insured. State Law requires that all Operators of motor vehicles on public roads carry proof of Financial Responsibility. That creates an Automatic legal Liability Interest and requirement in you and the vehicle your driving. The owner and any permitted operator have an interest in the insured status of the car.

If You have permissive use from the owner of a vehicle, then obviously you have an insurable interest. However, Only the Legal owner of the Property or the designated agent of the owner can receive compensation for the property in the event of a covered property loss.

Avoid any problems with legalities, the insuring contract or vehicle registration and inspection renewals, address owners and drivers. you should list both yourself and the proper owner and any lien holders as insureds on the application. Insurance Company underwriting guidelines require it.

We have Customers regularly buy insurance for vehicles of relatives and friends. Just honestly disclose your situation up front. Don't misrepresent, honestly disclose all risks and insure all the interested parties. You may have to make 2 or 3 calls before you find an Insurance Agent who knows how to appropriately address the risk but you should have no problems obtaining the appropriate coverage.

Failure to properly disclose all interested parties can void your insurance coverage.

AnswerNo. The owner of the car is the only one with insurable interest so they have to have insurance on it. Also, the local DMV requires the title/registration name to match the name on the insurance policy.

If you make a parshall payment on your loan can the loan company still come after your car?

YES they can. A partial payment is not the full amount owed, so they can repo the car. If they say they won't if you do this--get it in writing, or re-finance the car.

If a dealership assigns a car to a finance company and the finance company says you don't owe them can the dealer repossess?

If the finance company has been paid in full, then why would the dealership (or the finance company) want to repossess your car?

If the loan hasn't been repaid and is long overdue, then the dealer and finance company will probably decide who actually repossesses the car. Either way, it's up to them, not you.

Best thing to do is check the fine print in your loan agreement (which you signed when you bought the car) and see what it says about overdue payments, repossession, etc. If you've lost it, call your dealer and ask for a copy.

How do you get rid of a Writ of Attachment?

what dose wrt of attachment mean

A "Writ. of Attachment" is a type of warrant for arrest". You get rid of one by being arrested and taking care of whatever obligation you should have done before.

How long does the dealership have to reclaim the vehicle once you drive off with car?

It can reclaim (or reposes) the car Anytime if the owner does not pay off the money due on the car. Most of the time, the owner pays what is owned and the dealership can't reclaim the car. However, if the owner can't pay for the car, even if it's years later, the dealer can reposes the car.

You cosigned a used car for your sister-in-law and the title came under your name now you want to get off from the cosign and you have no idea how?

You are stuck on the loan until it is payed off. You can talk to the loan company to try and get your name off of it however this will fail 99% of the time. Why would a loan company want to have only 1 person to go after for the debt when they have 2. Also if she defaults on the loan they will come after you first. Whoever has the best job/credit is who they go after for the money.

Does tinting the window of your car bring down the value of the car?

It depends on a few variables; first and foremost,the quality of the installation.if done by yourself,or even a professional,a neat and "factory looking" tint,(no wrinkles,missing areas,etc)is the number one consideration.after this,the color and shade of it must be within regulations;very dark shades,and even some colors,may be against regulations.these are not the same for all states,and even vary county by county in some states.if you go for really dark tints,you may not get away with the same shade for the driver's window.law enforcement likes to be able to see you with your windows up.so,if you tint really dark,you may have to do a lighter shade on that window,and therefore,for the sake of symmetry,do the same lighter shade on the other front window,and leave the darker hues on all the other windows.finally,a word of advice:never tint the back window.do not use reds or blues or any other ridiculous color.blacks, greys,smoke,or certain shades of green,if done correctly,will add value.

Who is responsible for the car loan if they are on the top of the loan?

typically the first name on the loan is the person responsible for the payment of that account. if the first named person cant make the payments, the loan company will turn to the co-signer ( 2nd name ). if neither party makes payments the loan will go into default in which both parties will have reports on there credit history.

Does a cosigner have rights to the car even when its paid off?

No, the cosigner will not have rights to the car after its paid off because the purpose of a cosigner is to pay off the notice if you fail to do so. Being a cosigner does not give them to any rights to the car.

If a WV car dealer replaces a car transmission and the car owner takes the car and stops payment on the check is it legal for the car dealer to repossess the car for non payment of services rendered?

Not sure how the laws of WV differ from here in NC, but I can tell you that a mechanic can legally keep your vehicle until you pay for the repairs this is referred to as a mechanics lien. You have a certain amount of time to pay for the repairs plus storage if they choose to charge for storage. If after the time limit is up the vehicle owner still has not made the required payment the shop can legally sell the vehicle at auction to cover the amount of the repair/storage bill. Since you are in physical possession of the vehicle the shop will probably have to go through small claims proceedings in court (sue you) to recover the amount that you owe.

Vehicle you recovered and the owner has given it back to the finance company are they responsible for storage and recovery costs?

Depending on your contract with the lender or repossession forwarding company, they could be responsible for the storage fees and recovery costs. Ultimately the car's owner is responsible. If the fees have not been paid and you feel they will not be, and you have not released the vehicle yet, do not release it. The vehicle is the only security you have against payment.

May you get your car back for voluntary repossesion?

When you voluntarily surrendered your vehicle for repossession, you signed a voluntary release form. The probability of you redeeming your vehicle is extremely remote now. It is possible that if you attend the auction where it is being sold, you may be able to repurchase it though.

Can a repo company charge you for retrieving your personal property and property that belongs to someone else in the state of Kentucky?

Yes. Any property left in the vehicle when it was repossessed is additional property, not part of the repossession. As private property, the repossession company is liable to inventory the porperty and store it so that it may be recovered. State laws vary a bit, but the standard storage limit is thirty days. During this time they may assess a storage fee. You, the property owner must pay this fee to recover your property. Property that is not recovered in the time alloted by law may be discarded as the company sees fit.

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