Repossession

Yes they can as a matter of fact. Let's see, you defaulted on your car loan. You failed to surrender the vehicle when you could no longer pay for it. You caused the lender to send someone out in the night to find your car and recover it. You negligently left your stuff in the car, knowing you had defaulted on your note and it was likely to be repoed. You should probably have some responsibility in the matter, and pay the storage fees charged to you for keeping your property safe and undamaged.

Cotact the lender and ask for a copy of the bill of sale, and a reconciliation of your account. The reconciliation should show the application of the purchase price. If not, demand they correct it. It can take perhaps up to thirty days for the lender to comply, and they may require you make your request in writing.

Yes, and very often you will be. Storage fees are the right of the repo agency. They are keeping your property for you, and it is taking up space on their property. Not to mention creating the situation where they have to protect your property from theft or damage. If you want you property back, you will have to pay the fee. There is no choice. It is possible you could wait thirty days for them to determin it is unclaimed, and perhaps they will throw it out. You could pick it out of their trash then. If there is anything valuable though, I doubt it will make it to the trash. Likely as not it will be sold to cover the cost of your negligence.

They always wonder, that is those who have experienced a repossession always wonder. There are a number of ways this is accomplished. Some lenders rely on credit reports and information from other creditors. There are databases available on the internet that provide huge volumes of private information for a fee. Many skip tracers use these. Some of the more old school rely on crossreference directories, your friends, and your neighbors for information. Some will call your employer. Personally, I like to call family, exspouses, and angry sons and daughters are absolute gold mines of information.

Most people have no clue to how much information is available out there. You just have to have a knack for following the "blood trail."

Lenders are the banks and finance companies who contract loans for the purchase of vehicles, homes, and other property.

Borrowers are those who contract for the loans so they may purchase vehicles, homes, and other property.

Although you did not ask, dealerships and realtors are those who act as the agents of the lenders to put borrowers in debt.

eBay is the leading online auction service provider. Recently, Beckett Media launched its own Auction service. If you want to auction yourself, you may need to have knowledge about the local rules and regulations to set up one.

Receives. A payee is paid (an employee is employed). A payer pays (an employer employs).

legal tender

In the event the loan defaults, and the lender obtains a judgment against you, AND the judgment is also defaulted on, the lender could petition the court for an order to sieze or liquidate other real property. The likelihood of this is small, and the occurrence of it is rare, but it is possible.

Two ways:

1). You will receive a notice from the repossessing agency notifying you.
2). You can call the local police to report it stolen, at which time they will notify you that it was repossessed.

In either event, you will undoubtedly be aware that repossession is the most likely scenario, considering you hadn't made a payment for an expended period on the vehicle note, and you had received contact from the lender advising you that repossession was the next likely avenue due to your noncooperation.

Yes. A repossession agent can secure the vehicle anywhere he finds it with some limitations, provided he has a valid order for repossession.

Yes.

NYC is one of the most online cities in the nation. There is a site (linked below) where you can check the balance owed for parking tickets and you can check on whether a vehicle was towed.

It is possible you may need to contact the precinct where the vehicle was parked to find out if it was relocated for some reason.

Repo agents aren’t allowed to ”break the peace”. By simply confronting or sitting inside your vehicle, they will be unable to tow. This doesn’t mean law enforcement won’t be called in which case you may possibly have to turn over the car, usually depending on your states laws.

It should, but only for as long as the bankruptcy is active, and only so long as the debt is listed after the bankruptcy is discharged. More accurately, the garnishment must stop when the plantiff in the judgment has received notice that there is a bankruptcy.

Contact the lender or the repossession agency in writing and request a copy of the report of sale.

If you agree to it, then yes. In some situations, the selling party may file a lien to prevent the vehicle from being sold to a party with whom he does not agree. Additionally, if the original agreement is that the vehicle will revert to the original owner rather than be sold, the seller may file a lien to prevent the sale and ensure the return of the property.

Yes. The ability to legally operate a vehicle is not a prerequisite for ownership of one.

Federally, ten years from the date of last payment in the event the lender has obtained a judgment, seven years without. The lender cannot actively seek contact with a debtor during the bankruptcy stay, but the stay also suspends time on the recovery of the vehicle.

If your vehicle is already up for repossession, it is already on your credit report as a delinquent or defaulted debt.

If the bank has an order from a judge to liquidate or surrender property to satisfy a judgment, then yes, they may.

went to a car dealership where I bought a car because I had a accident the insurance pay off the car but the dealership will not give me my payoff

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Contact the loan company.