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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 a repossession agent call the police?

Thay can, and in many jurisdictions it is required before repossession is performed. In others it is only necessary to notify police within 24 hours of recovery.

Pay off a repossession does it get removed from your credit report?

Paying off a repossession will not generally get it removed from your credit report. If you have a good faith basis for disputing the deficiency on your credit report, you should do that. Many consumers have very good arguments as to why they do not owe the deficiency they are being charged by lenders. In addition to disputing the deficiency on your credit report, you want to be sure to defend any deficiency action brought against you by a creditor. Do not default on these lawsuits. When faced with a competent defense, most creditors, debt buyers in particular, cannot prove their case against you. Winning the case is court certainly goes a long ways toward providing you with a sound basis to dispute the alleged debt on your credit report.

What is the peace keeping role of police called?

police main role to protect of peoples life dignity,to investigate crime and prevent crime and main function is enforce the law or implement the law

Can someone go to jail or be charged if you dont turn in your car if its in the repo process?

In most cases no, it is a civil matter between you and the bank. They have to serve you then have a sherriff come out to get the vehicle. Duck the process server, and your in the clear. They have to go through a lengthy legal process to get to the point where they can arrest you. If you catch the repo man in the act, he has to drop it by law no matter what bullcrap line he gives you, he must drop it, so if you catch him, call the police fast and say someone is in the process of stealing your car so they respond fast, then get in your car and hold the brake or whatever it takes to keep the car on your property. When the cops come, they will send the repo man packing, but he will be back. I am a former repo man so take what I say as fact. Remember, repo men lie their asses off and say you will go to jail and etc... they will say anything to get the car cause they dont get paid if they don't get it. If you buy a car from a dealership and they "roll" you the car before the deal is funded by the bank and then they can't get it funded and wan't you to bring it back and you run, they can report it stolen, because technically, it is still their car. I hope this helps somebody keep their car a little longer till they get back on their feet.

Are lenders required to notify borrowers of intent to foreclose before filing in court?

In some states, legal procedures regarding mortgages do require lenders to inform borrowers of the intent to foreclosure. And if the bank is required to follow the FHA preforeclosure process, they must attempt to work with homeowners before foreclosing.

Other jurisdictions, though, allow the bank to file the foreclosure lawsuit and let the filing of the suit and its delivery to the borrowers serve as notice. From the time the foreclosure lawsuit is filed, owners have a period of time to answer the complaint.

Where can you buy here pay here electronics online?

I applied through Luther Sales before and got approved. You can set your payments weekly, bi-weekly, semi-monthly or monthly. Their monthly payments are very reasonable and they even do bundle packages. They have bundles of a desktop, laptop and tablet or 3 tv's or a living room set with a tv. They even have video game console bundles with 4-5 games and 2 controllers. Check them out.

Is Matt fired on operation repo?

yes he does i saw it for myself on television.

How long before repo or finance company gives up and just writes it off?

If you don't pay for the car it has a lien on it, and can never be sold. You may not be able to get new tags for it if it is flagged.

If you cosign for someone and they dont pay?

Co-signing is never a good idea, you are totally liable if they do not pay. If the property is repossessed the repossession will go on your credit records and you will be sued for any deficency in the loan. This means you will pay everything that the other party did not pay.

Very simply - a co-signer of a loan is responsible for absolutely everything as the "other" signer) who may be called primary signer). No difference.

EXCEPT that the cosigner frequently does NOT have possession or legal control of any property involved in the loan, so using it (say selling it) to pay for the loan can be much more difficult, if not impossible.

So whatever the responsibility, or recourse, (legal or financial) is for whatever action or lack of action required under the loan (and frequently under law too as many times you are considered the owner of any property connected with the loan), you are subject to also.

You owe a debt in Texas a collector from Texas wants to garnish your wages in Mississippi Can he do that?

In theory, yes, but it would be expensive for him to do it. Depends how much you owe and how bad they want it.

Which cars are long lasting diesel cars or petrol cars?

Cars that run diesel are long lasting than petrol cars.

Is their a fee to reclaim personal properity from a repossed auto in California such as Bibles children clothes and work ID Bages?

It usually depends upon the repossession company who repo'd the vehicle. In most states, the repossessor has the right to charge a daily fee for storage of personal property so the sooner you can pick it up, the less you will have to pay.

How can you locate your repossessed car?

Your car was probably repossessed by the lender who owns the car until you pay for it.

Call your lender and they will be able to tell you how to locate your repossessed car.

What should you have in your car if you get stuck in the car?

You should have a few things in your car. Water and some kind of energy bar is always good, just make sure whatever food you decide on can be eaten cold, warm, and make sure it can't go bad. if you live in a cold climate, or have harsh winters, blankets are a necessity. snow chains or tyre mats are good too, but tyre mats can be improvised by using the floor mats. Tyre mats are useful if your car has little to no traction, which is most likely why you are stuck in the first place. First aid kit is useful in a crash, and flashlights are an excellent idea. hope this helps!

Can they come to your work place to reposses your car and if the car is not with you?

If you don't make your payments, the lien holder has right to take the car any time.

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