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What else can I help you with?
What is a deficiency balance for repossession Louisiana?
The deficiency balance in every state as relates to repossession is the outstanding balance of the original principle plus fees accrued by the repossession process that remain after the resale of the repossessed vehicle.
Can you be arrested for not paying the deficiency owed after car repossession if you have a co-signer?
NO
Does gap insurance cover a repossession?
Gap insurance only pays if the vehicle is totaled in an accident or stolen and not recovered. It does not cover the deficiency balance after a repossession sale.
When was University of Wyoming College of Law created?
University of Wyoming College of Law was created in 1920.
Can lender pursue deficiency judgment for the difference after a short sale?
Some states allow deficiency judgments after the short sale. Some states allow deficiency judgments after repossession or foreclosure. Each state has its own rules.
What is Florida repossession law?
on products, not vehicles
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.
What happens to the deficiency of a repossession after chapter 7 bankruptcy is discharged?
IF you list it on the B/K. it goes away, you dont owe it anymore.
What is the car repossession law in Arizona?
check with your court house.
If a car is sold after repossession does law state that it must be reported to the bureau as zero balance?
If a car is sold after repossession does the law states that it must be reported to the credit bureau as zero balance?
Dose Texas have anti-deficiency law?
As of August 2014, Texas does have an anti deficiency law. Other states with the same law are Alabama, Arkansas, Delaware, and Illinois.
Can a repo take place at your work in Florida?
A repossession can be executed anyplace or time that a person holding the repossession order sees the vehicle in question, as long as the repo man does not violate the law in doing so. That said, Florida law does not restrict repossession according to location.
