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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
Can I renew my plates if it's out for repo?
Yes, if you have all the necessary documentation required (proof of insurance, personal property tax receipt, et al) to renew rather than apply for a new registration the financial problems that may be existing are not relevant.
How far behind on payments can you be before santander US can repossess your car?
Typically when it comes to car repossession, a customer has to worry about their car being taken when they have missed three payments. Sometimes repossession can be held off by just contacting the company and reassuring them they will get their money.
Virtually 100%. When/how long? That's the question. Usually within 2-3 months, but not always. The state in which you reside has laws (statute of limitation) dictating how long the term can be, and whether or not you make efforts toward repayment.
I live in NC an my debt is in the amount of 12000 and MRS Associates is trying to settle for 6900. Should i settle? Not sure what to do.
Can a car dealership repo your car if you already have a lender for the vehicle?
The DEALERSHIP won't repossess the car, but the lender might if you don't make the monthly payments as scheduled.
How can you get possession of car in Texas as cosigner?
If you're not on the title then you only agreed to pay the loan if the person buying it doesn't. This doesn't give you any right to the car.
However, you can sue the primary borrower in civil court if they defaulted on the loan and you made the payments. The judge may order the primary to sign the title over to you.
Is a car insured when it is the repair shop?
Standard auto insurance covers what happens while you are driving unless you add on other protections (and pay more money.)
If something happens to it in the repair shop, the shop should be responsible. Make sure they have insurance to cover you.
If the cosigner can prove they made all the payments and paid off the loan can they take the car?
No. The co-signer would need to take all that evidence and sue in court to get title to the car transferred unless the owner is willing to sing over the title.
What do you do when you buy a car off the street?
I suggest not to buy cars off the streets go to a place where you can get some sort of warranty.
Do you have to return a leased car to the same state and same dealer?
That would depend on what it says in your lease agreement.
Is there a time limit in which a car can be repossessed?
As long as there is a lien on the vehicle the lienholder has the right to repossess the property
How do you get back an impounded car in California?
That depends on why it was impounded.
At minimum, you'll have to go to the impound lot and pay the impound fee. There's probably a towing fee as well.
There may in some circumstances be a police hold on the vehicle, meaning you'll have to bring proof that you've cleared up whatever that is.
The first step would be to call the impound lot and ask them what you, personally, specifically need to do to get your specific car back, and then do whatever they tell you.
Can a 16yr. old lease a car with a co signer?
Currently no one under 25 can lease a car anywhere in the united states.
Can a repo man move other cars parked around it the repo car to get it?
No. A repo agent is only permitted to move and enter the vehicle which they have an order for repossession on.
Who makes the determination that a payment event has been successfully completed?
The procurement contracting officer
What happens when you lie on your car loan paper work?
Most lenders will verify the majority of the information on the credit application and pull a credit report on you. As far as finding out, after the loan is done, that you lied on the credit application, there really is nothing that will be done unless you fail to make the payments.
What are the odds of a bank coming after you in a deficiency judgment?
99.9% unless you are in prison or otherwise known to be completely incapable of paying.
Then they just report you to the credit bureau
Can a repo man call the police to get the car out of your garage?
No they can't at first, but you have to clear up this matter ASAP or eventually you will be court ordered!
Can the towing company charge you a fee to get your belongings out of the vehicle?
yes, depends on how long it sits in your car
Yes and No.
By "they", I'm guessing you mean whoever technically owns the car that you are making payments on, and is most often a bank/credit union. If you owe the dealership for a repair bill or something, it is separate from your car payment, and would most likely have no impact on your lease, therefore not be repossessed.
On the other hand, if you owe money because you didn't pay your insurance (in a State where insurance on a financed vehicle is required by law), then the lender will furnish insurance from a company they choose and add the cost of each month's insurance payment you missed, plus any months adding up to 6-months to a year right to your loan including interest and all. So while you could go a couple months paying the same amount you've been for the car, not paying the extra $100-$200 a month on the same bill will quickly get them to send the repo guy.
How do you apply for letter of clearance for car loan after completed payment?
simply write a letter to Bank he will do
