0
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
You cannot get blood from a stone. If you owe on an unsecured debt then that is that. In some states they do have some aggressive collection laws but if you have nothing then what can they take. You need to look into bankruptcy if your state does not have enough consumer protections to keep you from loosing your sanity.
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
You may not have on or in your vehicle?
red or blue emergency lights, which are for emergency and law enforcement vehicles only. It is correct to say 'have on your vehicle' if you are referring to something mechanical, and correct to use '. . .in your vehicle', when referring to something in the vehicle's interior.
Can a vehicle be taken in Kentucky without warning if you are one payment late?
If you financed the car at one of those ripoff buy here pay here lots they can and usually will. Sorry.
What if your cosigner of car and car is totaled?
Lenders require a financed vehicle to have full coverage. However, many times it slips through the cracks and a person who has poor credit (who needed a co-signer) will allow the insurance to lapse. A co-signer should always make certain the car is insured against loss. If the car is involved in an accident and is not insured the co-signer is fully responsible for paying the loan.
This is a common problem with cars, people with poor credit and co-signers who fail to get informed regarding their responsibility and liability before signing. It is rare that the primary borrower will pay off the loan for a wrecked car.
The Bugatti Veyron which can cost up to as much as 3 million dollars.
They vary in price as much as a car or house can. You can get one fairly cheaply (Ultralight) or very expensive (Learjet). You can spend under 10,000 or over 40 million.
This is not legal advice.
Almost any legal or natural person can sue almost any other legal or natural person, for almost any civil cause. Whether such suits succeed or get laughed out of court (or reach any of the multitude of other possible conclusions) depends on each individual set of circumstances.
Get a real lawyer, or access your local legal aid office.
What if my car was in the tow yard and the bank repossessed?
Then you don't have a car anymore. The bank will resell it and may in addition hold you responsible for the difference between the proceeds (or the fair market value, whichever is higher... they're not allowed to sell it to an officer of the bank for a dollar, for instance) and what you still owed on the car. They can also add in the repossession fees (towing, impound/storage fees, and so forth). If they sell it for more than you owed plus the fees, then you won't be charged for it but you also won't get the excess; they get to keep that. In many places you have the legal right to recover any belongings of yours that were in the car at the time (this normally doesn't apply to items which are considered part of the car, such as high-performance replacement parts) ... at least in theory. In practice, if anything turns up missing, the burden will be on you to prove the missing items were actually there ("No, Your Honor, I swear, I had five ninety-pound gold ingots in the trunk!") when the car was repossessed.
Unless the creditor agrees to it, which is not likely, you probably can't. That's the whole point of cosigning: it's not you saying "yeah, my friend is a great guy, you should give him a loan", it's you saying "my friend will repay the loan and if he doesn't then I will do it for him." Since in this case your friend is clearly already not repaying the loan, why on Earth would the bank just let you off the hook? Answer: they won't. Anytime you cosign a loan, you need to realize that you're taking the risk of having to pay off the loan yourself.
You will probably have to tell the creditor that you will not, or are unable to, pay the debt and that they will have to repossess the vehicle. It will probably reflect on your credit rating, however.
That said, there's no harm in contacting the creditor to inquire. The worst that can happen is that they say 'no', which leaves you in the position you're already in, no better, but no worse. (It might potentially get them to speed up repossession proceedings as well: "Hey, the guy who vouched for this deadbeat doesn't trust him anymore either, we need to get our property back as soon as possible.")
You do have a couple of other options:
- If you can afford to pay off the loan entirely, you could do that and have your friend owe you rather than the bank. Since the original loan no longer exists, you're no longer a cosigner. It won't completely fix the damage that's already been done, but paid off loans look a lot better on your credit report than outstanding ones that are consistently late/missed or a repossession. The disadvantage is that your deadbeat friend is not likely to be any better at paying you than they were at paying the bank, so you're pretty much going to be out that money.
- If you can't afford to pay off the loan entirely but can afford to make the payments yourself, start doing that and have the other person pay you instead of sending the payments to the bank themselves. Again, you may be out the money (at least temporarily) if they don't pay you on time, but at least the late payments won't be showing up on your credit report.
- If you can't afford even to make the payments, you might see if you can find some other bank that's willing to refinance the loan without you as a cosigner. If you can (admittedly not terribly likely), it will probably be on horrible terms, and your friend will likely end up defaulting and losing the car anyway, but at least the existing loan will be paid off and the repossession won't go on YOUR credit.
- If all else fails, have your friend do a voluntary repossession (contact the bank and make arrangements to take the car to them and hand over the keys) rather than having the bank send someone to come and get it. He and/or you will probably wind up having to pay off the difference between the amount owed and the fair market value of the car. This is not a great option, but it's slightly better than having the bank repo the car themselves (in which case the difference between the amount owed and the fair market value will still have to be repaid, plus the amount charged by the repo company will also have to be paid). Your friend loses the car, but that was going to happen sooner or later anyway.
Is concealing a car from repossession a felony in Georgia?
is concealing a car from repossession a felony in georgia?
A man pushes a car up to a hotel and tells the owner he's bankrupt what is going on?
He is playing Monopoly
Can you sell the engine out of a car that is going to be repossessed?
No, you must surrender the vehicle in the condition you received it in.
What do you look for in a lender?
The largest SPA Resort ever developed in worldwide.
The project is majestic was born in distant 2005 by a team specialized a marketing and sales for over 15 years with a proven track record, who has been working in the wellness industry for the last 10 years.
It is situated in Italy the heart of Tuscany hills Metallifere Lustignano is situated in the vicinity of the soffion boracifer of Larderello extraordinary geothermical territory for the wealth of the underworld, where already in the Paleolithic, fumaroles, lagoni, soffion, source of hot water and gas fumes were known. Such magma, tied up to the late phases of the orogenesi alpine, has given place in surface, to primary and secondary volcanic activity. Suggestive phenomena attributed perhaps to underground deities who subsequently were mostly used by Etrusc and Romans for thermal treatments
. .. a Castle integrally in stone, going up again to the beginning of 900 of more than 5000mq. surrounded by 40 hectares of exclusive property.
We are searching for appropriate investors Internationals for this project without precedent, Loan World Wide 100% LTV to value essentially 100% financing for Real Estate, Equipment,Development and Construction project operation included the equipments of about US$ 210.000.000 financing, it's almost too good to be true there are NO fees!! The project not have to collateral warranties!!
Investors prepared to finance long-term project development without requesting collateral in return, we committed to recapitalised with our media company when working, clearly separating the property from management that offers total guarantee .
Please note.. we have had bad experiences with lenders who asked for DD fees and upfront fees.
This is not acceptable and only legitimate Lenders and Brokers should contact us .
We shall be glad to receive hypothetical project proposals from the real investors.
The project is extraordinary with the people and experience I have in the sector is truly unique excellent opportunity for investor with high risk, thanks you for your response to our worldwide marketing campaign for an investment partner. I can promise a wonderful return on investment!
Please check out my web-site: http://richmondinvest.blogspot.com
What happens if car dealership files bankruptcy how do you pay for vehicle?
If a car dealership files for bankruptcy, someone will purchase the accounts receivable as part of the bankruptcy settlement. That person or company should contact you and tell you where to make payments.
Can a creditor garnish wages after the statute of limitations has pasted?
Usually, after the time the statue of limitations has passed, it is too late to garnish wages. However, there are exceptions. It will depend on the specific law of the specific jurisdiction covering the specific situation.
How do you repair credit after repossessions?
One option is to pursue credit repair through a credible company such as Lexington Law or Accurise. These companies have been in the industry for years and can dispute errors on your credit report.
However, in certain situations you won't be able to "fix" the repossession on your credit report and will have to wait for the incident to age off your report.
Can you shoot people if they are trespassing on private property?
You have the right to use lethal force to defend yourself and other people, but not property alone. If you find trespassers on your property you can detain them and order them off your property; however simply shooting a trespasser without warning when they are not threatening anyone is murder.
A person may name his or her own price for property if the government takes it for public purpose?
False
What happens to a stolen car after it is found?
The law requires that the Police Department be notified. The police will then notify legal owner so they can come and claim the property.
