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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 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.
Functions of mortgage banks and explain?
Function of mortgage bank is to lend for purchasing, reclaiming land and discharging old debts. They mortgage 50% of the land. Mortgage Bank commands its capital through deposits and dealing in shares and bonds. The period of loan usually ranges between 15 to 30 years.
Why does your doorbell ring on its own?
sometimes other people's doorbells in your neighborhood are the same and when ringed it's frequency rings your doorbell
You want your house repossessed?
no i dont think any body would like their house repossessed because that will mean your a tramp, then u will be put in a dangerous place .. :'(
I have a buy here pay here car I can't afford it anymore I want to give it back How do I do that?
just take it back where you bought it and tell them you can not pay, but have a ride home with you
Can my wages be garnished to pay the balance of my auto loan after my car has been reposesed?
That depends on if the lender uptained a judgment againt you. They would have sought a judgment if the value of the car exceeded the balance of the loan at the time it was reposesed. Some peole are stupid enough to intentionally make their car worthless if it's going to be reposesed. The differanc between the value of the auto and the loan is what the lender will go after.
Can you get your old license plates from your car and put them on your new car?
I'm sure it depends on the locality, but in my state, yes. You can transfer plates from one car/truck to another as long as both vehicles are registered to the same person.
Statement of what is owed on loan?
My name is Linda Phillips, Wyndham Rewards issued a credit through your bank for $3800. I do not have my acct. # but it ends in 2649. I live at 1401 Chicago Ave., Egg Harbor City, NJ 08215 I haven't received a statement since I made the first payment of $100 by phone since Oct. 2011.
Can you help me.
Age for co-signing on vehicle?
in most cases of legal agreements you can be at least 17 when signing a car agreement but they may ask for a parent guardian to sign as a gaurantaur. this can happen even if you are over 18 if they do not have enough information about your credit history in most cases of legal agreements you can be at least 17 when signing a car agreement but they may ask for a parent guardian to sign as a gaurantaur. this can happen even if you are over 18 if they do not have enough information about your credit history
