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Are the Lender of a repossession allowed to charge a storage fee and a repossession fee in the state of California?
In the state of California, the lender of a repossession may only charge fees that it incurs and that are in the contract. If the lender pays for the storage or houses the repossession, then yes, the lender is allowed to charge both a repossession and a storage fee.
What else can I help you with?
Can you get your vehicle back after repossession?
The first step is to contact your lender. They will have those answers. It usually involves making up past payments, and paying the repossession fee, and perhaps storage.
Can a car repossession be legally challenged after the fact if it can be shown that the overdue payments were received in the mail the day prior to the repossession?
Not unless the borrower can also prove the lender agreed to accept the late payments in lieu of repossession action. Once a contract is in default the lender may take whatever means allowed under the laws of the debtor's state to recover the property and/or debt.
Can a lender garnish wages after repossession in North Carolina?
Yes a lender can garnish your wages after a repossession. If the resell value of the item does not cover the cost needed to repay the lender, you are still responsible for paying the balance.
Can auto repossession be negotiated?
The company repossessing the car has no authority to negotiate terms with you. They are simply there to repossess the car. You must negotiate with your lender. Hopefully, you will do this before the the repossession order is submitted by the lender.
Liability of debtor after vehicle repossession in state of Texas?
The debtor is liable for the payout balance of the vehicle less resale amount. Additionally, he must pay any repossession fees, storage fees, transportations fees, interest from the lender, and penalties. In the evnet these are not paid, the lender will have no other recourse but to sue for the balance along with court costs, and legal and collection costs and fees.
How much does it cost to get your things out of the repossion inventory?
The cost to retrieve items from repossession inventory varies widely depending on factors such as the type of item, the lender's policies, and any associated fees. Typically, you may need to pay off the outstanding loan balance, along with any repossession fees, storage fees, and late payment penalties. It’s best to contact the repossession agency or lender directly for an accurate estimate of the total costs involved.
If you are threatened with a repossession can you pay the balance before they repossess the car?
IF the lender accepts it you can.
How do you get a car back from repossession?
It is sooo SIMPLE, you CONTACT the LENDER for further instructions.
What is the concept of repossession about?
Is is common knowledge that the concept of repossession is the taking back of property by a lender or seller from the borrower or buyer, usually due to default.
Can a lender take legal action against the homeowner?
It's called repossession. The lender owns the property, the homeowner is making payments.
How do you found out if your car is on a repo list?
There are no such lists available to the public. The repossession agent is allowed to recover the vehicle at the original lender's request. In some states notice is required and/or a replevin order from the court.
Can a repossession agent take a vehicle without waiting for the borrower to show proof that payments have been made?
Yes. It is perfectly legal for a repossession agent to take possession of a vehicle when they are acting on behalf of the lender. The repossession agency does not have the option of allowing the borrower to retain the vehicle even though proof is presented that payments have been rendered. Such issues are strictly between the borrower and the lender. The lender and/or court being the only parties that can rescind the repossession action.
