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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 im in military can your veh be repossed?

Being in the military is not bar to repossession of a vehicle

If a car bumps another car in the back from behind then what is the part that gets damaged called?

How hard a bump are we talking about and which car do you refer to? If it's only a slight bump then each car will probably only have damage to its bumper (fender in the US). But a harder smack may damage the radiator shell or even the radiator itself on the rear car and the boot (trunk) of the front car. A very hard smack might even damage the chassis of one or both cars.

When you trade your car does it matter how much payments you still have on your car?

The number of payments makes no difference. The only thing that matters is the payoff balance of the car vs. the actual cash value. The more payments you have left the more likely you will owe more on the car than it is worth in which case you would need to either come up with more down payment or roll any excess balance onto the new loan which typically requires better credit to do.

Can a repo man take a truck and trailer?

Most usually they are empowered to take items where you haven't made the payments. If both the truck and trailer were being repossessed, then you are stuck.

What will happen to your father n laws car if the lease is in his name And past away?

If the lease is in his name and he passed away, then read the lease agreement. Frequently, when a person leases a car and dies, the car goes back to the company that leased it. If you want to do something else, you will need to get with the company that wrote the lease.

Can you repossess a sign that a customer has not paid for?

Either that, or put a lien on the property or business involved. Until it's paid for, you own it. You may have to wait a certain amount of time before the customer is considered to be in default, though, so check your work order or contract with the party involved.

Can a repo man contact your neighbors?

Of course, anybody can contact anybody, unless there is an actual restraining order issued by a court that forbids someone from contacting someone.

What do you have to do legally when paying cash for a car from individual?

write a bill of sale!!, include the VIN, the car make and model, year, color, cash value of sale, mileage, address of yours, his, names, and signatures and dates involved, and have a witness there to sign it with you!! I'll give you an example...copy and paste if you want.. I, < sold , 1 year color make model, to <, for $, on 99/99/9999. the vin # is***************, it has current mileage of xxxxxx, and was sold as is with no implied warranty or otherwise. Buyer assumes this, and car is bought with all existing issues present. buyer: name adress phone signature seller: name address phone signature witness signature AND IMMEDIATELY TURN IN A RELEASE OF LIABILITY WITH THE DMV AS A SELLER!!!

If you get a cosigner for a new car and you crash it can they be held responsible?

If you're insured, the insurance company should take care of the damages, but to answer your question: You're responsible just for the car payments in case the primary owner can't make them.

What is a motor vehicle lease?

Leasing a car is much like leasing an apartment or home. Usually the user is under contract and pays monthly payments. Although they do not actually own the property, they own rights to the property for a specified amount of time. Leasing a car can be likened to renting a car for a long period of time. This may be an attractive option for people who trade-in to buy new cars often.

What to do when you get a notice of default?

First, pay the past due total on the notice, and get to your mortgage company without delay. Then call your mortgage servicer and get on a repayment plan, request a modification, or explore a short sale if you cannot afford your home.

Is it legal to take your car back from impound without pay?

If the impound releases it to you then it is okay, otherwise it is theft.

Can a creditor repossess a car when the payment is one day late?

Yes

Usually they allow a grace period for an arears payment, but they do not have to.

If you cosign for your girlfriend at a dealership so she can get a car does it effect any loans or lones of credit that you may already have with another bank or institution?

Yes, it goes onto your credit report that you cosigned a loan because you could become responsible for the loan if she defaults. So, that amount of money does show up on your credit and could affect your credit worthiness .

Does the cosigner have to drive the car?

No, the cosigner signs on to the loan. Usually, the primary signer owns the car and drives it. The cosigner is there in case the loan goes into default and needs to be paid for. After they sign on the car does not belong to them, but the person who took out the loan.

Can someone sell a mobile home to someone for cash never give them the titles then turn around 3 years later and resell that same mobile home and the land that the mobile home sits on?

For clarification, you purchased a mobile home on someones property, then either leased or rented the land underneath the home. Anyway you cut it you have been a victim of fraud and should take legal if not criminal action against the person that sold you the home.

There can be only be two scenarios at the time of sale, either the home has a title, possible two if the home is a double wide or the home is attached to the land by way of deed and the home is considered real property.

If the home is titled, the Seller should have presented you with the titles to the home after payment. Which you should have taken down to your local county or DMV to transfer title into your name. By selling you a titled home and not giving you the titles, the Seller(s) have committed fraud.

If the home and land are combined by way of deed, then the Seller(s) sold you a home fraudulently, as the Seller(s) cannot sell only the home unless it is titled.

I would first call the county tax assessor and find out if the home is titled or deeded. My next call would be to local law enforcement, then an attorney.

For more information, visit: http:www.chattelmortgage.net

What to do when someone dies and there is no estate and there is a car payment?

You could take over the car and the payment or sell the car and then pay the loan. I recently found out that the family doesn't have to pay the bills of person who died. This is an option, but the credit card companies don't want you to know this. It is the same with the car loan.

How do you know the tata sky balance money?

there is no method to check bal online..either you have to send the sms from your registered mobile no. or you have to call the tata sky helpnine nos..

Can you trade in a used car for another car if you are still making payments on the first car?

Yes you can, but you have to owe less on the car than the trade in given. In other words if you owe 2,000 on the car and they give you three that means the loan on car 1 gets paid off and you have a 1,000 towards the price of car 2. But if you owed 5,000 on car 1 and they gave you 3,000 you would still have a balance due on car loan 1.

If you make payments every month can you still lose your house?

No, because you are meeting the requirement's of the loan. It is when you stop paying the loan payments that you loose your house. Then, they have a reason to get their money back.

Can a wife leave and take your car with her?

If your the one who pays the bills and you are the owner (co owner does not count) then no she cant get a lawyer

If your name is on the Title and her name is no where on the title, you can file civil suit if she causes any damages. If she holds no ownership to the car, you can call the police and report it stolen. If she made any payments or was in any partake of the loan as a co-signer or sole owner of the loan, she can take you to court. I do not know what proof she may have or case to put to the forefront but she can file civil suit and may if she has made any payments for the car. It all depends on the agreement you both made with the car.