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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 do you do if a repo man is literally beating in your front door?

If he is beating on your door. and You have your vehicle on public street or in your driveway he may just drive away with it. If your vehicle is in your garage or on your private property He cannot legally break the entering to obtain the vehicle

Where is the car that was in the 1977 movie the car?

The car is a customized 1971 Lincoln Continental Mark III.

Can you finance a car for your son since he has bad credit?

you may finance a vehicle in your name. finance companies do not do gifts(the repayments need to come from your bank account not his). If you take out a loan for your son and he has bad credit, you have to understand that you are responsible for that loan and if he does not pay it back you are the one that is punished. make sure that you think long and hard about this and do not make the decision from the heart, make it fromt he head.

How can I find my car because it was towed and I don't know my license plate?

You might want to check your sticker receipt,or go to the licence office ask them.

How do you get storage fees for a car?

you would send a registered letter to the owner. Then if no response with in 7 days put a lean on the vehicle. You will need the plate and Bim number to do this with a copy of the registered letter.

What happemed to MAP this week he's disappeared?

He went to Atlanta GA. To get some smoothies and ride a computer

Are you allowed to walk around private property?

The owner of property has the option of either allowing people to walk on his (or her) property, or requiring people to keep out of it; as for walking around it, if by that you mean walking outside the property on its perimeter, that is normally allowed (although this is a hypothetical case; it would depend where that property was, since it might adjoin to other private property, or otherwise be inaccessible).

How do you know how old your car is?

Open the driver's side door. On the back edge of the door, where it latches to the frame, is a sticker that has a lot of information on it. One piece of information is that month and year the vehicle was manufactured. Stamped into the vehicle body is a 17 character alpha-numeric sequence called the VIN (Vehicle Identification Number) which is completed against international standards ISO 3799, ISO 4030, and ISO 8357, giving Manufacturer, country of origin, model, factory etc. There are a number of free decode sites on the internet. That said, the 10th character is the code for the year of manufacture. They run in sequence A - Y less I O Q U . Then 1 - 9 for the next years, then back to the letters. So, the last 21 years, J = 1988 through Y=2000. 1 = 2001 through 9 = 2009, then back to A for next year. However, the VIN indicates when the vehicle was manufactured, not when it was put on the road for the first time. Manufacturer/dealer stockpiling can easily introduce a discrepancy of 5 years between manufacture and first registration.

Why does a car get repossessed?

The person who bought the car didn't make payments so the bank takes it back.

What are the requirements of expropriation of private property?

My land is being expropriated though the survey they presented me and filed in court describing my land is not actually my land. Where do I stand with still owning my land?

What can you do if the bank denied the loan for a new car which a contract was signed?

you might be screwed . . . any decent dealer will tell you upfront that you signed is on the condition that the bank accepts evrything, when I've bought a car before my dealer even has a disclamer to sign saying they have told me that.

Can a repo man chase you while your driving the car?

No. Fair Debt Collection Act prohibits aggressive or abusive debt collection tactics and practices. Chasing somsone in a vehicle is a threat to safety. It may be civily and criminaly negligent.

Can a lender take your savings?

Yes and no. Most banks who also lend have a section in their account agreement that gives them the "right of offset" for certain loan types. In this scenario, if you owe your bank money, they can (according to the terms set in the agreement) take money in your checking or savings to offset the delinquency. This does not mean Bob's Auto Loans could find your Community Credit Union checking account and go take money out of it without a court order. In relation to Real Estate, it depends on the state and governing laws. In CA there is a one-action rule that states a lender may take one action to cure a defaulted home loan. That means if you stop paying your mortgage and your lender takes $500 from your checking because you bank with the same lender, they can not foreclose on the home. They took their one action.

Can wages be garnished prior to the judgment?

Wages should not be garnished prior to a court order. You should be able to argue before a judge that you do not owe a bill because a man did not complete the work. You are not bound to pay him until he finishes the job. If he did not fix your car, he should not garnish your wages for refusing to fix it.

When your Father passed away how bad will a car repossession affect a cosigners credit?

It depends on how your father's death, the repossession, and the cosigners credit are corelated.

Can a repossession agent come on private property to repossess a vehicle?

I am not 100% on this but I am almost certain that they can as if an item is inside the home they can come in to take those

You are financing a vehicle but you can no longer afford payments what can you do?

Talk to the lender, or you can file Chapter 13 Bankruptcy to lower the payments where you can afford them.

Proportion of loan balances to loan amounts is too high?

This specific reason does not necessarily means something negative on your credit report. For instance, you can have an active but not fully paid loan on your account. Even if you are nearly finished with your payments, the creditor may denied an application based on that information. Keep in mind that new credit approval are based on the borrower's ability to repay the dept. Therefore the financial institution will not approve new credit if your debt its already too high and they consider you would not be able to repay along with the existing debts. However there is still hope for those who are nearly finished paying off their loans. You can contact the financial institution and ask for reconsideration, there are phone numbers you can call to speak directly to a credit analyst. Explain your situation and how you're nearly finished with your debt or you can simply wait to pay off the loan and then give it another try. Also, some college student can get this reason for denial. Because they are currently taking loans or took loans while attending school. Again contact the financial institution and ask for reconsideration. Good Luck!

How do you get a repossed vehicle back?

If your car is repossessed and you want to get it back, you can contact the finance company and clear any outstanding payments. They may agree to return your vehicle to you if they have not already sold it but be warned that lenders try and sell repossessed vehicles as quickly as possible to try and recoup funds.

The finance companies often sell the repossessed vehicles at a car auction. Here they can be sold "as seen" and at a lower price than market value, thus they can be sold quickly. It is often possible to find out which auction your car is being sold at and you can get your repossessed vehicle back yourself by attending the car auction and bidding.

If a towing company mistakenly towed a car and charged the owner regardless their wrong procedure Can it be successfully sued?

Yes it happens all the time but you need to be sure you have all the facts and proof that it was there mistake and dig up history on the company to see how many times complaints have been filed on them before.

Do you get a check if you are financing the car when it was stolen?

You will still owe the money even if stolen. Your insurance carrier may give you a check for the difference of what you owe, minus the deductible and the fair market value. It never is equal to what the car was worth though. It is better to keep the car from being stolen.

If you have bought the car from a car dealer they will be reimburse you however seek advice from your local citizens advice bureau. If the car was bought privately you will still be liable for the repayments however you should seek legal advice.