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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

If you hide your car from being repossessed what will or could happen to you for doing this?

In some states you could be charged with hindering and arrested. In others the lender could seek a replevin against you at which time you would either give up the vehicle or face criminal charges. Other lenders will simply take you to court and seek a judgment against you, at which time you will have no choice in how the debt is recovered or when. It will be taken from your pay check, your bank accounts, your tax returns, it could aid in the forced liquidation of other property.

Your two easiest options are pay the note or turn in the vehicle. As long as active repossession is in place, you will lose the vehicle; it's just a matter of time.

Can your paycheck be garnished from a repossessed vehicle?

Yes. If the car's value at repo was under what you owed they can get the difference, court costs and interest.

What can be done when auto is sold and not paid in full?

It depends on the state, but generally, in the U.S. the lein holder will eventually sue you for the difference of what the vehcile sold for and what you owed on it. Generally speaking, you will either have to pay it or file bankruptcy.

Can creditors go after a paid-off car in probate if the house is being foreclosed on?

Debtors can go after the assets of the estate. These assets will have to be liquidated to settle the debts.

What are signs that a car was a flood car?

Depending on where is was, or how bad the flood was, the signs will change. The usual signs are an odor, usually pretty bad on the inside, especially from the upholstery. If the water had salt in it, you might see salt residue in the engine compartment and on the undercarriage. Also, there will possibly be rust where there isn't usually rust: inside door panels, underside of hood, radiator...

The main problem with flood cars is that the title might not be clean. The engine is water-tight (if it's not you really have some problems, and in that case, flood damage is the least of your worries), so the engine should be fine, but the rust in other places can be a big issue.

What is Washington State Law for receiving a paycheck a day late?

Washington State law allows Mallory to be paid up to 36 hours late.

Can the repo man take your car with cars behind it?

This can only be interrpreted that you are asking whether it is legal to hinder the recovery of the lender's property. The answer is no. In some states, if you actively or even pssively attempt to hinder the legal repossession of a vehicle for which you have not paid the loan, you could be arrested and charged criminally.

Now, literally, provided the agent is able to secure the vehicle, does not violate any federal, state, or local laws, and maintains the peace, yes.

What happens if you are in chapter 13 and your car gets repossessed?

If neither the lender or the repossession company is notified that you have filed, and they proceed in good faith, your car can be repossessed. If either knowingly violated the stay, you may be able to redeem the vehicle, and the bankruptcy court may fine the agencies who acted in violation.

What to do if something is stolen that you still owe on?

Notify your insurance company and file a claim. Failing this, you will pay the balance owed on the loan. The property that secured the loan, that which was stolen, only acts as security for the lender.

What are people who work on cars called?

Mechanics. Or "Automobile Repair Specialists" if you want to get fancy.

Is it illegal to take the emblems off your car?

Only thing you have to leave on your vehicle is the VIN# (vehicle identification number) which is located most likely on top of your dash board on the drivers side corner. There should be one located on a decal on the inside of your drivers door also and you can remove that sticker if you wish but I would recommend leaving it in place because it has alot of other information about your vehicle you may need. Any other emblems or decals on your vehicle can be removed as you wish.

In Utah can your wages be garnished for a car that was repossessed?

You do not owe money for a car if it has been repossessed, so your wages can't be garnished for that reason.

A car moves how?

You turn the key, the car has energy from the petrol that makes the wheels move, this movement turns the tires and then the car moves, slowly at first but then it makes a move by using the petrol. This is CO2.

Who does repo agent report to once car is repo'd?

I would hazard a guess that he contacts the finance company first.

Can I get sued for car payments made on car in my name after I repo it back from friend that stopped making payments on it car was being financed through dealer N only my name was on the loan title?

Short answer is Yes.

Your name is on the title. Your should consult a lawyer and go through the agreement you signed.

If you still have the car, you must pay the instalments. If you cannot afford to continue the instalments, you should try to strike a deal with the finance company to return the car and pay off any outstanding balance to that date of return. Arrange a realistic repayment scheme based on your current income and necessary outgoings - rent/mortgage, insurance, heating, food, taxes, etc. Beer and chips for Monday night football are not necessary outgoings, nor is pay-per-view cable.

If you had a written agreement with your friend to pay the instalments then you can sue the friend for the money you have had to pay out on their behalf.

How do you get rid of your time share?

Selling a timeshare requires understanding how the timeshare was actually sold to the consumer in the first place, an article explaining the tips for timeshare resale on ezine article reads

When trying to sell a timeshare in the resale market there's a few key points to consider. First of all the major resort developers are selling millions of dollars in timeshare properties every year, a lot of that has to do with the way they market their units. If Wyndham all of a sudden decides that they will sell timeshares only through their websites and other online marketing soon enough they wouldn't be considered the largest resort developers in the world. Developers like Wyndham spend millions in marketing revenue like giving away free vacation deals for anyone that attends a Timeshare presentation.

They will also start pricing the unit well over Fifteen thousand Dollars when they can easily sell the same unit for under Eight Thousand Dollars, Giving customers a price break makes them feel like they are getting a great deal while making it easier for the agent to make the sale happen.

Giving prospective customers a "Free Weekend Getaway" at the same location also helps greatly to sell a vacation property, usually when someone buys a new car they like to take it on a test drive and letting the prospects try out the unit, enjoy all the amenities the resort has to offer in reality has the same effect. The idea is to make the customer fall in love with the Resort.

Selecting the right company to get the job done can turn out to be the difference between selling your timeshare in 90 days or not selling your timeshare at all. Companies with ethical and logical marketing practices may be hard to find but are well worth the trouble.

A few key questions to ask before selecting a company to handle your resale are:

Do you charge Money upfront to sell my timeshare?

Do you offer In house presentation for prospective buyers?

How many units have you sold recently?

Do you offer free trips to the resort for prospective buyers?

Do you offer title and finance services for the buyer?

Do you offer any guarantee?

Sell or Rent out Your Timeshare with No upfront Marketing Fees.

Who has the right of ownership of vehicle Owner or coowner?

The primary and cosigner on a car note are equal owners. Neither has the "right of ownership" over the other. This is a common misconception. Both may not benefit from the transaction, but both will be negatively affected if the note is not paid.