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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

What is an agreed contract?

an agreed contract is when one person writes up a contract and ask the other person to agree to the contract and they will gain whatever the contract offers e.g Mobile phone contract you will gain a certain number of minutes or unlimited text. if the person who signs the contract breaks the deal they will lose whatever was on offer.

What are some car loan lenders that deal with bad credit?

If you are located in Toronto, Canada, here are few google results for bad credit car loan providers.

1. Auto Credit Financial - http://www.autocreditfinancial.ca

2. Ontario Credit Solutions - http://www.ontariocreditsolutions.com

3. Whitby Motors - http://www.whitbymotors.com

Good luck

If you no longer own the car do you have to pay the parking ticket?

yes, unfortunately, you do. The exception is that you will eventually have a warrant out for you. Jail time is the other option.

Can you reinstate an auto loan after repossession in the state of California?

You can (so they say) but they make it extremely hard! The finance co. has to work with your insurance company to verify that your insurance and tags are up to date and they take their sweet time about it, so that by the time they state it's OK to get your car back you have racked up more fee's, which by the way is extremely hard to deal with since you're obviously in a financial bind since you lost the car at this point. They then want 12 references to put a last bug in case you are late again. Needless to say. I chalked it up to, "I guess God is telling me to I can't afford this $450.00 payment" at this point in my life and to get a used car to get me from point A to B.

What happens when you hide a car from the repo man?

It will be reported stolen. Remember, the car does not belong to you - it belongs to the lienholder, and the repossession agents are coming to claim the lienholder's property back. You no longer have any legal right to it.

In most instances the repo agent will make a few attempts to locate the vehicle. If that does not happen the lender will go to court to obtain a replevin order. Once the order has been issued the buyer/debtor must relinquish the vehicle or face criminal charges.

The vehicle cannot be reported stolen by the repossession agent or the lender unless they have evidence that such a crime was actually committed. For them to do so due the location of the vehicle was unknown would constitute filing a false police report.

Can cops take your things without prior notice?

If your belongings are being repossesed by a finance company you will have been notified of the delinquency several times before they actually come to take them away.

If it is an ongoing investigation of a crime they can

What is the difference between impound fees and storage fees?

Storage:

Can be picked up at anytime

Impound:

Before you can pickup an impound one must have proper documentation showing all the necessary required issues are up to date. For example: Registration, etc.

Can you get receipts for payments made to a collection agency?

yes and an accounting too. To be certain, make all payments in person at their office. You may request a reconciled statement showing all payments as well.

How do you tow a bus with heavy wrecker?

Run chains around the steer axle, put a support bar under the front frame rail so you don't rip the bumper off, remove the axle shafts, and book it.

How do I get started in my own business?

you get started with your own business by first thinking of what you would want to do or sell in your business.

Monthly payment on 217000 30yrs at 4.5 percent What would the monthly payment be?

Want to know what our monthly house payment will be owing 217000.00 on a 30 year loan at 4.5%

What are the repercussions of an automobile repossession?

First off you will be required to pay the repossession fees unless you voluntarily turned the car in. Secondly you will be required to pay the deficiency. The deficiency is the difference in the amount the lender sells the car for and the amount you owe. Let's say you owe $10,000 and they sell the car for $8,000. That leaves you owing the lender $2,000. Thirdly this repossession will be placed on your credit report and will stay there for 7 years. Repossession should be the last resort after you have talked to the lender and done all you can to avoid this. Sell the car to another individual even if you have to sell it for less than it is worth, then pay the lender the deficiency out of your pocket to avoid repossession. Have someone take over the payments. Whatever it takes to avoid this.

My ex step mom is suing me for a repo that she co-signed for. Can she legally do that considering we haven't got sued by the lender yet?

A co-signer is the legal borrower of the money for a vehicle. You're only along for the ride in the hopes it will bring your credit up if all the payments are made properly. The car can be repoed if you drop insurance, make late payments, or otherwise don't keep the car in good condition while there is a loan on the vehicle. Pay your debts or surrender the property. That's the law.

Find a lienholder with a VIN?

Depending on the state the vehicle is registered in, most DMVs keep this information on file.

Can a car dealer refuse pymnt if your already behind?

Depends on your contract. But yes they can just take the car back.

What does impounding dogs mean?

It means taking dogs to the pound when they're found without collars, tags, rabies shots, or otherwise acting as a danger to the public.

What is a Buyers Order?

A Purchase agreement which indicates •Buyer details

•Vehicle Identification Number

•Details of •Selling Price, •Rebate, •Tax , •Processing Fee

•Purchase Date

•Down Payment

What is the right size for a 20 year old?

Male, or female, muscle mass, height, and body structure all play a part in this.

4'10-5'2 = 102lbs(46kg)-121lbs(54kgs) for a small frame, 109lbs(49kg)-132lbs(59kg) for a medium frame, 118lbs(53kg)-143lbs(64kg) for a large frame

5'2-5'9 = 108lbs(48kg)-142lbs(64kg) for a small frame, 118lbs(56kg)-153lbs(69kg) for a medium frame, 128lbs(58kg)-170lbs(77kg) for a large frame

5'10-6'0 = 132lbs(59kg)-151lbs(68kg) for a small frame, 142lbs(64kg)-162lbs(73kg) for a medium frame, 152lbs(68kg)-179lbs(81kg) for a large frame

Your mom is a co-signor on your car loan and is filing bankruptcy you have always made the payments and still owe money on the car What happens to the car Do you still make payments What happens?

(Depending on where you live) You can:

1. She can elect not to include the car, and retain property of it.

2. If you are 1/2 way finished of payments you can contact the lending agency and request sole responsibility of the lien

3.Return the car to the title company

If you keep the car, you will still be held liable for the payments. If you no longer want the car or to make payments, you will need to release it back to the title company.

Another thought too....your credit is tied up in this deal. Her credit will be affected by the bankruptcy but if you keep the car and keep the payments up you'll get the credit and benefit by doing the right thing by paying it off. You'll be much better off doing that. If you turn the car in I think it will hurt your credit. You still have to pay if you keep the car.

Can you keep a car that your name is not on loan but was given to you by the deceased?

You need to have the title transferred to your own name and notify the loan company of the change in ownership. Then you will need to pay the balance of the loan or renegotiate the loan with the bank. If you don't pay the loan the car will be repossessed.

If you do not have money to pay when sued will you go to jail?

no they will take the money from accounts, collage funds, or reposses your things 1 by 1 until your debt is payed