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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 they come on state property and repossess your car?
When you signed the contract to buy "your" car, you are also giving written permission for an agent to enter your private property and take back the bank's car. Read before you sign!
What to do if someone doesnt pay their loan?
Ha, I'm having the same problem. What I've done so far is get their email and tel. number and bug them every other day lol. Bug everyone in their company if you have to
Can a bank demand payment in full on an auto loan if the vehicle was repossessed for no insurance?
Yes. A bank repossesses a vehicle for nonpayment. If your vehicle was taken for being on a public roadway and not having insurance, it was impounded. When a vehicle is impounded, a lien is placed on it by the agency which ordered the impound. The interests of government agencies override those of the bank, and they can sell your vehicle to recoup impound costs if you do not reclaim it within a specified period of time. In this case, the bank receives nothing from the sale, and you still owe the bank the remaining balance.
If I missed five payments on a motorcycle can I pay them late and avoid repossession?
Up until the time that your motorcycle is actually repossessed, the dealer will be happy to receive your payments, even if they are late, and will allow you to keep the motorcycle. But if you wait too long the repossession will happen.
What if you are a co signer on a house that is in foreclosure?
The lender can go after you for any deficiencies and the foreclosure will be reported on your credit record. As a co-signer you are equally responsible for paying the mortgage.
Can estate take car away from buyer if co-buyer dies?
No. Not if both names were on the Certificate of Title. The surviving co-owner would own the car.
What is the name for a concealed gunman?
A gunman who shoots from a position of concealment is called a sniper.
Can you get an another auto financed if you already have one financed?
The general rule in auto financing is: One income one loan two incomes two loans. Meaning one person one income one loan two people two incomes two loans. There are exceptions If your income is a high income and your expenses are relatively low, then yes second auto loans happen. Of course it also depends on your credit.
Can a co-signer repossess a vehicle if a sibling is not making payments?
The co-signer is typically a person who signs for the car loan; the co-signer may or may not be listed as a co-owner on the title.
If the co-signer is also a co-owner, the co-owner who is paying the loan can legally take the car. However, if the co-signer is not a co-owner, taking the car would be grand theft auto.
Incidentally, if the co-signer is not also a co-owner and the loan falls into default, both the signer and the co-signer will be identified in credit reports as defaulting on a car loan, even though the co-signer did not have or use the car.
If you cosigned for a car loan how can you get out of the loan?
The loan must be paid off or the lender must agree in writing to remove your name from the obligation.
What is the net in the back of the car called?
The net in the trunk of your car/suv is called a cargo net and is used to keep things separated and from falling out
How do you get a car title if the person sign it in the wrong place and is now dead?
Talk to their LIVE brothers/sisters,or any of their close relatives ,or perants to get their permission to have the title of their car my guess if they are selling it would be around 10,000?Just try to get their permission first!
How much money do you get paid for repossessing a car?
I'm sure it depends on where you are, but the finance company that I used to work for paid between $150 and $300 per car, depending whether the customer voluntarily surrendered the car or whether the repo agent had to take it.
What things do you need to finance a car?
an arm and a leg. lol
A good down payment wont hurt either.
Good credit for better interest rates for a loan, etc.
Is there any recourse a cosigner has against the borrower of a defaulted loan?
No, there is no legal recourse that i know of, but I do know of a way to help yourself if the loans are Federally Guaranteed student loans. Have the borrower consolidate the loans without you being a cosigner. Then, the previous loans will be paid off, and a new loan will be made. If you need help getting the defaulted loans consolidated, contact Default Management Services. Google the company name for a phone #. Ask for Doug, he is very knowledgeable.
"Car" is an informal word so there is no technical definition. Most people will agree though, that a car has its own engine, four wheels, with seats for a driver and potentially passengers, and is designed to primarily transport people.
Can the impound lot charge storage fees for the days they are closed?
they are the man, they can and will do anything to make money. they don't expect you to waste money in court disputing your case because it is not sensible. the man sucks.
Can a lien holder come and steal your car back with out any notice if you are only 5 days late?
francisco yes
Can a repo man come in your unlocked fence yard and repo your car in the backyard?
yes they are allowed on your property hide it in the garage if you have one
If you already have a wage garnishment can they do a bank garnishment too?
If you are getting garnished you seriously need to consider bankrupcy. Just from the sound of your question it is clear that more than one creditor is causing you some drama. Laws for garnishment vary by state. For instance in NC no one except child support and IRS can garnish your wages or go into your bank account. The state you live in makes a huge impact so you need detailed information from someone who is well informed about your state. You might come out better just by moving.
If my car is repossesed can they take your home?
no they can't they can only put a judgment against you for what you owed left on it
Can they come on private property and repossess your car in Kentucky?
Yes they can even though it is on your private propery since you have no longer been making the payments the bank owns it and it is their property and they have the right to retrieve it
