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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
How do you change registration of a vehicle when the owner dies?
executor of estate or proven in probate court next of kin (with appointment documents) must take a death certificate to DMV or Sec of State etc. and ask for a change to their name.
How would you use 'repose' in a sentence?
Repose means "to lie at rest"
After an exciting day of play, the children would repose on the sofa.
My dog would often repose on the window and dream of chasing cats.
Can your bank take money from your account without your consent?
Yes that is why they pay intrest on your money they use
Are car loan write off taxable income for the debtor?
Yes. The lender must send a 1099-C to you and the IRS, so its a matter of record. A loan isn't, but at the time the debt is forgiven or cancelled, it is the same as if you were simply given money . (Or even closer to if you stole money, which is also income..you effectively got income by not paying what you were supposed to). Or looking at it another way, the lender would have taxable income of that amount more, had you done what you promised, (which in fact they probably already reported as income from a sale and just had an account receivable for the amount yet to come), and will now be able to take a bad debt deduction for the amount they didn't receive ( and recover the income tax they essentially overpaid). It is called Cancellation of Indebtedness, or COID for short,
Where in chino do they take car that get repossessed?
my friend owed my $3,000 so he gave me his 2004 pickup truck as callateral last night the truck was taken from my driveway by ? my friend said it must be stolen because he is current on the payment 0f $465 a month!!? the tags are two months expired and the insurance is also expired. my gut feeling is repo or police impound but i,m so confussed also my wife who told me so !!!! said because my so called friend is abit shady that he has got somebody to steal it and is hiding it .
What should I do to find truck? I have only searched my nieghborhood hoping it was just a joy ride by kids please please tell me what to do! my stomach is in knots and my wife is driving me insane.
Dave
e-mail me @ davrav45@yahoo.com
If you were found out, I would say a lot of trouble, but depending if they take it to court or not. I would say you would still have to pay the tow fee, and probably then some depending on the company.
Is a meriden b company item L32 collectible item?
i have silver sugar bowl made by the meriden b company, item # L 32 made in the usa, i woyld like to know its value it is in mint condition
What are IRS tax implications on repossessed property?
That would depend on many factors. My answer will assume that the property is a personal residence. If it was repossessed, it is logical to assume that the debt you owed on the property exceeded the value of the home on today's market. The only potential tax consequence would be based on the amount of debt forgiven. This amount wold be the amount you owed less the amount the bank nets from the sale of the property. Generally, people who lose property in the manner are insolvent, that is, their total indebtedness exceeds the total fair market value of everything they own. The tax code specifies that if a taxpayer is insolvent both before and after a certain amount of his debt is forgiven, the forgiveness of debt does not create taxable income. If the taxpayer is solvent before and after the event that triggered the foregiveness of debt, the amount of debt forgiven would be ordinary income to the taxpayer in the year of repossession. If the amount of debt forgiveness creates solvency, the amount that is included in taxable income is the lesser of the debt forgiveness or the amount of the solvency. For example. If before the repossession, your debts exceeds your assets by $100,000, and after repossession and related debt foregiveness your assets exceed your debts by $50,000, your taxable income for that year would increase by the lesser of the amount of debt foregiveness or $50,000. Note: this post may or may not consider recent tax legislation and tax court decisions. Please consult a local CPA.
How do you find out if your car has been towed?
So call The Police immediately. And also call your dealership cause you might of gotten it repoed. Behind on your payments?
You cosigned to a car loan with an ex and now he's not making payments and he's out of the state?
The finance company will be coming to you for payments...even if he has the car. They will send repo men after the vehicle as well. Good luck. Never EVER co-sign for anyone.
There's no rule. It may not be worth it for the lender to repo or take the vehicle. To be safe, you may want to send the lender a letter, certified return receipt, giving a time, date and place to pick the vehicle up. If the lender does not, be sure to keep the letter and green card to prove the lender abandoned it. Then you will want to get the title. You may have to sue the lender for it.
How many payments in the state of Texas can you be behind for repo?
Legally if you miss 1 payment you are delinquent and they can start repossession proceedings on their vehicle.
What are the features of promissory note?
written
unconditional
promise
debtor is maker
certain sum
payee is a certain person
time
copies
order of payee
parties
stamps
payment after delivery
Are you still responsible for a volunteer repo?
Yes, you signed a contract that no matter what, you'll pay your debt to whom ever gave you the loan. If you don't pay it, they will make your life miserable.
How many years did the pilgrims have to work to pay back the money they owed for their voyage?
7 years
What is an unrehabilitated insolvent?
A person who has insufficient amounts to pay their debts and can neva get a cent from anyone
You owe money to a bankrupt company do you still have to pay the debt?
Absolutely.
Their bankruptcy only means they may get relief from paying their debts. It doesn't change your obligations at all. (If anything, it means it's harder for you to avoid them, because now, others - includinf the Court) are interested in making sure they get what you owe).
In fact, all that companys assets, (and your account receivable is one), will be used to pay what they owe...and the court will make sure all of those assets that can be collected are, and are used for that purpose.
What are the rights of tenants in private mobile home park?
Your butt is huge!!!!!!! Your butt is huge!!!!!!!
These types of Bonds are generally written by insurance Cos and available through insurance agents...contact yours and others to see if they will consider providing one and what their individual requirements are.
The difference is that if he doesn't want you to have anyone else, it could easily get out of hand to be an abusive relationship. This would mean that he kinda would isolate you from your friends and family so he could have you all to hiself. That would be bad. But possessive as in he still loves you can be quite the opposite because if he still loves you then he just doesn't want you to get in another relationship because everybody deserves a second chance, and he still cares.
When you make your household electric payment at the end of the month which are you paying for?
energy!
Bk can mean a variety of things but, in slang terms it mean Blood Killers but it can also mean burger king or below the knee but, it depends on the situation. In gaming communities it can mean "bad kid."
BK, in financial terms, stands for bankruptcy.
STOMP A SLOB ALL DAY BK
