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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
It's Factoring!
How do you do online payments?
Depends on what and where I am buying, but mostly I use paysafecard, which is a prepaid card. I don't like it when I have to give away personal details on the internet since I don't want to leave a track record of everything I do and buy... plus it's safer than using a credit card, which is what I use when psc isn't available as a payment option.
Will i get pulled over for having a car door that is obviously damaged and will not open?
will not open? are the doors jammed?
I believe the police will pull over a car that is a danger to someone else on the road or a danger to you. If the doors are stuck shut, you're probably in danger in some sense. If the car runs and you feel that you're not in danger, i don't believe you are breaking the law.
Yes, in both circumstances. When you sign the contract it is pending approved credit. The dealership owns the car and figures it can get you financed by the banks but when that fails to happen the dealership still owns the car. You are just driving till the contract is bought by the bank. The Sales rep can and will get the car because it isn't being reposed. They own it and he is representing them in getting it back. Sorry it happened to you but it does happen out there
What goes to third party collections?
If a payday loan is over four yrs old and is sold to a 3rd party collection agency, can they file charges on you for a Bad Check? Or can they just serve you to request payment? The original debt company says i no longer own them!
They have no legal jurisdiction over any vehicle not listed on the repo order. They can no more touch your car as they could the presidents limo. Tom Brode
Go talk to all the banks in your area with Proof of insurance , list of service charges and list of used / new dealers you already recover for. Keep checking in with them because it only takes one time for their regular guy to mess up and that's when your foot gets in the door. Then don't you mess it up. Happy hunting.
What was the best selling car in 1949?
Ford, all new for 1949, 1,118,308 units sold:
http://auto.howstuffworks.com/1949-ford8.htm
Another good link about this classic machine:
http://www.canadiandriver.com/2008/07/11/motoring-memories-1949-ford.htm
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What can they do when you have lost your job and can not pay your credit cards?
because no job no income now im the one undocumented person.i wiil facing any punishment to be serve to me.i didnt want to lost my job.what can i do now?
If a car is parked in the garage can the repo guy take it for no home insurance?
A repo guy is likely to say anything to get your car. If he's looking for it, you owe the money and he gets to take the car. Hiding it in the garage will keep him at bay for only a short time. Whether or not you have homeowner's insurance does not factor into the equation.
Do you have to pay back the repossession loan?
The answer, unfortunately is yes. I personally bought a lemon and told them to come and take it back after it broke down 5 times in a week. $8000 later it is still on my credit report and it has been 6 years. I refuse to pay for a piece of crap...what's also very funny is they turned around and sold it at an auction for $200 and sent me a bill for the diff ($8000). Wonderful right?! JK
The answer, unfortunately is yes. I personally bought a lemon and told them to come and take it back after it broke down 5 times in a week. $8000 later it is still on my credit report and it has been 6 years. I refuse to pay for a piece of crap...what's also very funny is they turned around and sold it at an auction for $200 and sent me a bill for the diff ($8000). Wonderful right?! JK
In some juristictions (states/provinces) you may not have to. For example, in Ontario if you repossess the vehicle you can also sue for any shortfall when liquidated. This is because Ontario is a seize and sue juristiction. However, in Quebec if you repossess you cannot sue for any shortfall in liquidation because it is a seize or sue juristiction. In the latter case they have to decide if they want to repossess or sue, but they cannot do both.
If you can't afford car payments anymore will they put a lien your my house?
Don't think so , unless you used your house for collateral when you bought the car. Generally they will repo (take it) it and you may be responsible for the remaining balance that is owed.
What is the back thing of your car called?
the back thing of a car is a boot or often know as trunk. Also on top of the trunk is a thing called a spoiler
What happens after your vechicle is auctioned?
If your vehicle is auctioned off you will have to pay the difference from what the vehicle was sold for vs the actual loan amount left over. Plus the towing fees and auction fees.
Can you repossess a vehicle if you are the sole owner on registration?
Yes you can repossess if you are the soul owner. If the person whom your repossessing the car from gives you trouble, have the police meet you to witness the repossession.
You are still legally obligated to pay the balance of the car note regardless.
Can a cosigner take the car if you lose your job?
When a person co-signs a loan, they take on the obligation of the loan. The co-signer should also be on the title to the vehicle. If not, the co-signer could acquire title by filing a lawsuit against you for not paying and the court could transfer the title to the vehicle by a court order.
How long can a garnishment last in mi?
Typically garnishments last as long as the debt remains unpaid. Check the documentation you received from the garnish presenter and you should see your total indebtedness and subtract the payments you have made from it.
