Repossession

Any unpaid loan will remain on your credit record for seven years from the last date of payment. In the event the lender obtained a judgment against the debtor, it will remain on the record for ten years past the date the judgment was issued. In some cases, if the lender obtains a judgment, the account is not paid, and the lender obtains an extension, the record will remain for an additional ten years past the first ten.

I'm trying to get this straight: if the son is on the account, and the son has an outstanding debt, and Chase has a judgment or the account is a Chase account, then yes. It does not matter if there are thirty people on the account that never signed for the loan. The fact that one person did is enough provided that person is indebted to Chase.

In most states someone else can register a car besides the titled owner if the proper paperwork is signed by the owner. The title will need to be filled out and signed by the person who will own the car.

Yes, a repossession company can gather what ever information is necessary to recover a vehicle or to secure the loan for the lender. This can include and is not limited to your place of employment; locations you may frequent, your residential address; the addresses and phone numbers of any references you listed on the loan application; the phone numbers and names of your neighbors in any attempt to contact you or locate the vehicle; the names, addresses, and phone numbers of your family members in an attempt to contact you or locate the vehicle; and, any other information that progresses the recovery of the property. Additionally, they have the resources to discover your private cell phone numbers and numbers of unpublished landline phones.

Yes. As the comaker on a loan, you are equally responsible for its payment. In the event the other party defaults, you either pay the loan yourself, convicne the other party to, or if able file bankruptcy.

Yes, if they obtained a judgment in the processes. No employer will release wages to a third party without a valid order of garnishment however.

In some states, most that is at this point. However, most states are also passing or reviewing legislation that would prevent the registration of a vehicle up for repossession, and in some states such as Florida, the registration of any vehicle to a person who has a vehicle up for repossession.

Yes, in the event the court orders it.

Anything that does not activley disclose his purpose for contacting you to a third party. Anything that does not maliciously cause damage to property. Anything that does not break the peace in the effort to recover the vehicle.

The lender may hire a repossession company to recover the vehicle. Attempts will be made to contact you, to give you the opportunity to surrender the vehicle. If this fails, repossession agents will be given an order to recover the unit, and you may walk out of Walmart or the Piggly Wiggly one night to find the vehicle is not where you parked it. Your ice cream will melt, your children will cry, and you will have to rely upon the kindness of friends or family to drive you around until you can convince another lender to write a loan for you.

You will pay the fees or you will face legal actions and more fees in the attempt to collect the debt. Your best course of action is to pay the storage fees for your personal property--the speakers--and avoid accruing greater debt.

Can it? Yes, by the lender in some case. If the debtor is actively attempting to hinder repossession in many states, or if the vehicle is in possession of a third party who is not on the loan or vehicle registration, then a repossession agent may file a stolen vehicle report. Most will not, preferring to allow the lender to take such action instead.

Can it be reported stolen by the debtor once repossession takes place? Often vehicles are reported stolen after repossession happens. However, this is a cautious area. Most debtors already know the vehicle is being sought, and law enforcement takes a dim view of filing false or malicious reports.

The debtor. customer, client, payor.

Yes.

Yes they can and yes they do. Often after the sale of a repossessed vehicle, there remains a balance due. Many debtors refuse to pay this believing the sale of the vehicle should be fair compensation for the debt. However, from the moment the contract is signed, the vehicle becomes simply a pawn in the game, a means to an end. That end is the loan contract. If the borrower defaults on the loan to the point that repossession becomes an option, the vehicle is only considered a means of recovering some of the balance owed. In rare cases, more than what is owed is obtained in the sale of a repossessed vehicle, and the debtor is due a refund of the difference. There are few debtors who would decline such. Why should the lender do so the other way?

Yes. Most lenders give customers 10 to 15 days grace to make a payment or for a payment made to post. However, by the language of most car notes, anything past a certain period of time (usually two weeks) is considered delinquent, and the balance of the loan is owed. The lender at this point is not required to accept anything less than payment of the remaining balance. And, the vehicle can be repossessed at any time to secure payment of the remaining balance.

Yes, they can and often they do to cover the unpaid balance of impound fees.

Yes, and many people whose wages are garnished are terminated. Few employer do not want to bother with the hassle or entaglement of garnishment.

The form is called a purchase order. Many companies and local governments will require a purchase order for any purchase that is made.

Yes, you contracted to borrow money. That money was loaned to you, it is gone. Now you have the principle and the interest. The vehicle that was repossessed only secured the loan. The lender did not want your car, but your failure to pay as promised left them no choice but to secure some sort of payment. Now you have what remains, plus costs and continuing interest. If you fail to pay now, you may have no choice in how the lender collects the full amount.

In most states, a car cannot be repossessed unless the seller/creditor obtained a lien on the property to secure it. That lien must be perfected with the state, that is the security information must be recorded with the state. Also, in most states, a right to cure must have been signed by the purchaser to allow the lender to recover the vehicle any time any where. Failing all this, and additional requirements in some states, a private seller cannot legal repossess a vehicle without going through the courts and securing some sort of order such as a replevin.

Any vehicle you used to secure the consolidation loan is in danger of repossession. The lender may have already sent them for repossession and it is only a matter of time before the agency hired secures them. If you are catching up, it is in your best interest to get current on the loan as soon as possible. Contact the lender and discuss options. If you communicate with them, it could go easier for you.

Yes, provided there is still an outstanding balance after the repossession and resale are completed. This is the case in most situations, due to the added cost of repossession, storage, and transport of the vehicle that will be assessed to you. If it remains unpaid, the lender may (likely will) file legal actions against you to recover the balance.

In essense what you are describing is loaning a car to another person for an indefinate period of time. If the arrangement is that the other person is to make the payments, it is a foolish thing for you to do, dangerous to you financially. But, no, you cannot get into criminal trouble, only trouble of a financial nature.

I'm assuming you are asking regarding a bankruptcy. An automatic stay is a utility of the court, that legally prevents contact with you from creditors after they have been notified of the bankruptcy proceedings. Once you file, the stay protects you and your proerty for as long as the stay exists. Once the BK is dismissed or discharged, the stay is lifted. While the stay is in effect, the vehicle cannot be involuntarily repossessed.