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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

Car on your property for four months is it legally mine?

The salvage laws vary by country but generaly large items such as a car need to be abandoned for a year before they can be claimed by someone else.

Hello Carly are you here?

Yes I am here. You do not need to undersatnd that though.

What happens if you don't pay your vehicle registration renewal on time?

Well your registration will expire, this might leave you open to a ticket by the police if you keep driving. Some states will charge you a little fine for reinstating but otherwise nothing earth shattering.

Can you sell your car before it gets repoed?

Even if you could you would still owe the bank the money they paid for the car.

Are there any states where the license plate stays with the vehicle when it is sold?

Kentucky, California, Washington, Texas and Oregon the tags stay with the car. I'm sure there are others as well. I'd like a full list of these smart states as well.

Can you legally have a car towed from your property?

Yes, you can have an unwanted vehicle removed from your property any time you wish.

Auto repo in California 20yrs ago and now a settlement recovery company is contacting you is it still valid?

If the bill is 20 years old I don't think they have a valid claim. I think ( could be wrong here) but there is a 5 year limit to collect. I would contact a lawyer with this question.

Do i lose protection under California anti-deficiency judgment law if i refinance my home loan?

This question is timely and important in the State of California. Presently (August, 2012), the answer is yes, if you refinance, you lose the legislative protection you have against a bank's deficiency judgment if the bank forecloses judicially (i.e., through the courts). Anti-deficiency protection extends only to loans that are obtained to pay all or part of the purchase price of the home. However, a bill was recently introduced, and passed, in the State of California (SB 1069), providing that no deficiency judgment shall lie in any event on any loan, refinance, or other credit transaction that is used to refinance a purchase money loan, or subsequent refinances of a purchase money loan (except to the extent that the lender or creditor advances "new principal" to the borrower). The new law only applies to transactions executed on or after January 1, 2013.

Stephen G. Hammers shammers@pcghlawyers.com

http://www.linkedin.com/pub/stephen-hammers/23/a80/b41

A friend took out finance in her name for me after paying for 1 year i could not meet payments the machine was taken back there is now a deficit of 9000 pounds who is liable?

Please don't try to wiggle out of your responsibity. She did this as a favor to you and now you want to stick her with the responsibility because the "paperwork" says so?? You have a moral and ethical obligation to take care of this...you gave your word. Man up!

Is it legal to abandon your impounded car?

The shortest way out of this fix is to get the car, pay your dues, and continue to make payments. This will cause the least problems in the long run, since these things take on a life of their own if not attended to. You could end up being out more money, having wages garnished and lousy credit. If you must give up your car, talk to your lender and return the car to the place where you bought it. Tough, but you will be doing the right thing.

Can a friend buy you a car?

I wouldn't see why not. well i think that yes!!!!!! a friend could buy you a car but maybe because he likes u or something like that.

Can you go to jail if you keep a repossessed car in a different state?

As the owner of a "tote the note" used car lot for 20 years I know of no effective way of prosecuting "skips". People occasionally move to other states with mortgaged autos and if there is statute forbidding it, I am not aware of it. Generally, the only remedy for the lienholder is to repossess the vehicle.

What is the cure for nerve blockage in right leg?

A nerve block usually means that someone was given a drug to block the pain in an area. I would assume that a nerve block might thus mean numbness due to nerve damage. Nerve Damage is neuropathy. The myelin sheath of the nerve has been damaged and thus you get numbness, tingling and pain. The body needs B1 in order to be able to repair the damage to the nerve. There can be many reasons for this damage - diabetes high blood sugar, chemotherapy, trauma, lack of B12, etc. However, most supplements that you buy is water soluable and thus washes out of your body before it can be used. It is becoming known that certain forms of B vitamins are fat soluable and thus the body can hold onto it long enough to use it. In addition, B12 and some other ingredients will help in the repair. There is a formula that does this called the Nerve Support Formula - www.realfoodnutrients.com/neu/home.htm

Do you receive notification before auto repossession?

You will receive notices that your payments have not been received, making your auto subject to repossession, but you will not receive a date and time of the repossession.

Are cars today heavier than the cars of the late 60s early 70s?

yes and no the old sedans were over 5000 pounds now days its around 3000 to 4000 pounds with sedans but trucks like doulies weigh much more than the 60s and 70s trucks

I've been 30 days late on my payment several times then when you I was 10 days late the Credit Union repossessed me car if they allow the late payments doesn't that create a new contract?

No. That is ridiculous. you are talking about a credit union, which like a bank, will never turn you're payment away, even if its late. the contract, no doubt, states that you have a grace period for payments, that grace period ends on your monthly due date for payments. it also probably states the you would make the payments on time. and you are always allowed to make payments whenever you feel like it, but if its too late too many times, they have the contractual right to repossess the car. once you sign that contract, that is the contract, the only thing that would make it null and void, is if you had made your payments on time all the time and they took the car anyway. then you could file a lawsuit against them and get your car back and probably anything you paid if you knew what you were doing and maybe end up with a free car. but you went back on your end by not paying on time so they've done nothing illegal or unethical. and there's nothing you can really do except try to work with the bank. i wish you the best of luck.

Can you buy another car though your first car got repossessed?

Yes, if you have the money you can buy it. If you are searching for a car loan, you may have some difficulty in that. Paying cash, no problem.

Can a car be repossed after payments have been made?

Yes, if other terms of the contract are breached, such as having no car insurance.

What happens when you have an auto loan and you die?

The debt is transferred to your estate.

It still has to be paid, depending on the contract you signed of course, but is handled by the Executor along with any other debts you may leave.

Any creditor can make a claim on your estate but these claims may not all have the same legal standing. If there is a dispute it may need to be decided by a court of law. This should be avoided at all costs as it is expensive.

Can I file a law suit on a car repair shop that closed down and took my car?

Sure, take them to small claims court. Make sure you have all your papers and are ready to prove they did something wrong.