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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

Can your wages be garnished in Texas if you are default n a car loan?

Yes it can if the loan company taKES it to court and gets a judgment against you, then by all means they can take your taxes, pay, etc.

What if you sell your car for less then the loan and still have money to pay back?

i want to pay but he say must pay full..he dont want to discuss but that car i pass to bank already that time i lost my job, so now i want to clear my loan how?

Can a dealership file repo on you if you didn't make a down payment?

If the dealership holds the title (Buy Here, Pay Here) then yes. If the bank you financed it with already has the title and you have your tags, then no. The dealership can, however, place a judgment on you for the amount of the down payment.

Can a towing company put a lien on a car that's been totaled and paid off?

yes they can. if your vehicle was towed by them and you dont pay the bill they have the right to keep it in lue of the money you owe them.

How old do you have to be to work at a car dealership?

You have to be 16 to wash cars, 18 to change oil and such and be at least 24 and have your salesman licence.

Can a postal retirement annuity be garnished by an auto finance co?

In order for a garnsihment to be issued you must have had a judgment. Under normal conditions retirement, 401k and disability cannot be touched. For example under the OJ case his retirement from the NFL was not subject to the goldmans lawsuit. Your disability check should not be effected by a lawsuit.

What is charged with conversion?

It means that somone who was paid ahead of time for their services (attorney, funeral home, etc) converts funds paid for their services into money for their own use, or used it for another client. It could also mean that they failed to escrow the funds for their client and used the money for themselves or another client.

After 10 years is car lien valid?

Unless the lien is waived, yep. Did you pay the loan off? If so, get the lien lifted.

What would the world be like without the automobile?

we would ride on horses, getting places would be slower, delivery would take much longer, and you would be at home more

What to look for when buying a motorhome?

Obviously check that it's suitable for your needs etc, i would recommend joining one of the Motorhome/Campervan clubs there are plenty of them out there and they can give you all the advice you need. Also check insurance quotes, Insurance Factory do some good deals on theirs.

I bought my car in fl.i cant afford to pay for it but now i live in la. what is the law about that?

I assume you have the car under a finance agreement when you say you cant afford to pay for it. I don't know how far behind payments you may be, but normally the finance company you have the loan with will start contacting you, and any family/employer you might have listed on the contract. If you have disappeared, they can look country wide thru DMV for any registration with the vehicles VIN number, if its hidden away and not registered or hasn't had any DMV transfer they wont know where it is, SO, they start looking for you, and there are ways they can go thru IRS, social security, DMV (your drivers license will link you with any vehicles registered in your name) If you have a job and are paying taxes, social security etc they can trace you. Do you own a cell phone.....it has a number that gives off a gps location when its on, regardless if you have the gps turned off or not. Finance instutions have "Skip Tracers" they contract that do all this covert research. Hope this answers your question.

How do you remove your lojack?

ok well first when you put it under your car and use it then you just turn it a round and make sure that it is all the way lifted down!!!!!!!!

Can your wages be garnished for the repossession of a vehicle in Louisiana?

If the lender decides to sue the borrower and wins a judgment, the judgment can be executed as a wage garnishment

Parties and their rights and responsibilities of a letter of credit?

  • All parties dealing with an LC are dealing only with documents not with goods & services.
  • it is exporter's duty to ship the goods as per the LC and submit the documents within the stipulated time for negotiation.

What happens if they cant find your car for repossession?

you can't hide ur car car forever and you could go to jail. --added -- Several things might happen. You should check with a lawyer for the particular legal steps in your state, but here are some of the possibilities, assuming it's my car for brevity: The finance company will sue me. I will receive a notice of the suit and may have to appear in court if I can't settle the case otherwise. Ignoring the summons can result in an arrest warrant for contempt of court. Since there is a lien on the title, I won't be able to sell the car, and won't be able to renew the registration. That will result in my insurance being cancelled or invalidated. At this point, if I get pulled over by the police, my car will probably be impounded, at which time the finance company will probably get the car. At the very least, I would face several hundreds of dollars in fines. In some states, I can be treated as if I was driving a stolen car!! While being behind on my car payments will have already wrecked my credit, I would think that refusing to return the car under the terms of the loan would do further damage to my ability to get a future car loan. It would be so much easier for me to give the car back, get a bike or ride the bus until I can save up the money to pay cash for a car. There are reasonably reliable cars available in the $2000 range, perhaps less if I look hard. That's just a few months of most car payments, and I don't have to pay for full-coverage insurance, saving me even more. If I then "pretend" I have a car payment, made payable to my savings account, I can pay cash for a new car every few years!

What can ido about cosign for a car i dont have?

bought car with girlfriend they titled car in her name i didnt know this she found out car titled in her name only she took car

To avoid accidents what should a defensive driver do?

cost of damage, time and effort and how effective it would be.

Why cash increase when liabilities increases?

Apparent cash increases. Net worth goes down. You have more cash because you have borrowed money. Your net worth will go down due to interest.

Debt free is the way to be unless you have money making reasons for that loan.

GAAP: I try to remember to state that my answers are based on the U.S.A. GAAP and Double-Entry Accounting.

If you have an increase in both CASH (asset) and Liabilities, it's as stated above, more than likely due to a "loan" of some sort. For example a bank loan will increase your cash while at the same time increasing your "account or note payable" liability. However, there could be other possibilities.

1. You received Cash in advance for a service or product. Let's say you are a house painter and your customer has paid you a deposit of $1500 to paint their house, this is listed as "Unearned Revenue" which, until it is "earned" (i.e. the job is complete) it is listed as a liability. The reason Unearned Revenue is listed as a liability is simply due to the fact that until the job (or if it is even a product you are supplying) is complete, your company is at an obligation to provide the service or product, if for any reason they can not, then the company must "pay" the amount back to the customer. Once the service or product is provided a journal entry is made, debiting Unearned Revenue and crediting Revenue.

What happens when you pick at your scab?

It bleeds and takes longer to heal leaving a worse scar.

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