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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.
Total questions 21500
What do you do if you have completed bankruptcy and the lender has not picked up aut?
What to do Call the bank and ask. They will not lie about it. Answer If your car has been repo'd, call your local...
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How can you repair your credit after a car repossession?
The only two ways to have a negative item removed from your credit report is by disputing the negative item with the credit...
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What is legal during a car repossession?
Each state has different repo laws. Most are tied into the Uniform Commercial Code (UCC) which, although a Federal law, most...
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How long does a repossession stay on your credit report?
Repo on Your Credit It stays on your credit report for 7 years to the day the loan became delinquent. Say you made your last...
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What is the length of time creditors have to file for a claim against you after repossession in Pennsylvania?
6 minutes but u get out straight away if u give them some nuts
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What are the repossession laws in Georgia?
Georgia's Repossession Laws TITLE STATE: Yes SECURITY INTERESTS: Shown on title held by lien holder. LICENSE REGISTRATION:...
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When can your car get repossessed and what are your rights?
Vehicle repossession and your rights Anytime you borrow money to buy a car, you should know that: The lender can repossess if...
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Where can i buy repossessed cars?
If you want REAL repossessed cars, directly, and without a middleman, go to www.repofinder.com . The service is free to use and...
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Can you still owe money after your car is repossessed?
Even though you don't have the car doesn't mean you don't have to pay back the money that you borrowed to purchase the car. You...
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How much does title insurance cost?
Title Insurance Rates Title insurance rates vary from state to state and market to market. In some states, the fees are set by...
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Is there any way to get a repossessed car back without paying the loan in full?
Getting Back a Repossessed Car You may have a certain right, known as a right to cure, whereby you are given a grace period to...
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What is the difference in laws between California and Texas when it comes to car repossession?
http://www.dca.ca.gov/bsis/bsiscons.htm CHAPTER 11. REPOSSESSORS Article 1. General Provisions...
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What rights does a cosigner have when a car is repossessed?
Cosigner Rights Upon Repossession I am a co-signer for a large car loan for one of my adult children. I wanted to know what...
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How can you avoid repossession?
I work for an auto finance company hand I have successfully avoided the repo people for over a year and I drive my/the banks car...
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Can you get your car back after repossession?
yes u can def get ur car back! all of the answers above r all correct! i recently had my car repo'd a few days ago. it is deff...
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What if you didn't get a notice about the repossession?
Notice of Repossession In 9 (nine) states the leinholder has to send you a "right to cure" letter before they can repo. The...
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After voluntary repossession what is your credit obligation?
Keri, I suggest you think long and hard before you let it go back. The results are not nice at all on your credit rating. Read...
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Where can a new repo company find insurance?
Repo Business Insurance Your state insurance department is your best resource for insurance-related questions and concerns....
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What happens to the co-signer if a car is repossessed?
The co-signer of any loan has the same financial obligations and liabilities as the creditor! They can be sued and have their...
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Does a cosigner have rights to the car?
Co-Signer Rights Here are answers and opinions from FAQ Farmers: IN THE EVENT OF FAILURE TO MAKE A PAYMENT OR IF THE...
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What is the time frame before a repo company can dispose of the possessions left in a car when it was repossessed?
Personal Property in the Vehicle According to the FTC: Regardless of the method used to dispose of a repossessed car, a...
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What happens after repossession?
Yes they can take you to court, try to get a judgement, and then try to garnish wages, put leins on property, etc. THis varies...
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Can your car be repossessed if the finance company accepts payments of less than the amount due?
Car repossession Bottom line: YES it can. Although many things could factor into this answer, such as, have they given...
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After repossession can your wages be garnished?
this can vary by state, but in most if they get a judgement against you by taking you to court, then can - but there are rules...
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If you can't pay to get your car out of the impound can you leave it with them?
In Texas, when your car is impounded, it is best to go immediately and retrieve your car. The towing charge and daily storage...
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What can happen if you hide a vehicle from the repossession agent?
It is not legal to hide a vehicle from repossession! Regardless of your intent, you are obligated by contract, and by law, to...
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In texas can they repo a car from your driveway on personal property?
The law can come and remove anything from anywhere if it is on a no parking place, tresspassing, or if you haven't been paying...
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How bad is it for your credit to have a leased car voluntarily repossessed?
My car is about to be repossessed. I spoke to the lender who has the second mortgage on our house concerning how bad this would...
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Can you save money by purchasing a repossessed car?
Purchasing a repossessec car Jo, the odds are NOT good unless you are or have access to a mechanic. BUT, you may have bought...
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What are repo people allowed to do in California?
http://www.leginfo.ca.gov/cgi-bin/calawquery?codesection=bpc&codebody=&hits=20 first go get a cheese berger then go eat...
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How do you know if your car has been stolen or repossessed?
EZ-er than that call your local police or 911. They are required by law to inform the police when they are doing a legal...
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What happens if you are facing both bankruptcy and repossession?
Well, "repo man", a bankruptcy will allow folks to get their car back - even after repo. The clincher is, if the car was...
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Can repo agents keep a copy of your car key?
They generally do not keep the keys, as it would be too many keys to keep track of. Each vehicle usually has a special code that...
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How can you get a repossessed car back without paying off the debt in full?
You must get the finance company to agree to terms. You can't get the car back by any means other than getting the finance...
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Can a person voluntarily return a car to the bank to avoid repossession?
Repossession That is a repossession. Anytime the lender get's the car back instead of the money agreed to on the contract,...
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Are you responsible for loan balances after repossession?
Kris, in MOST cases, you are responsible for the BALANCE DUE. Read the contract you signed to find out more on it.Its NOT...
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Is a voluntary car repossession or bankruptcy worse for your credit?
I was told a voluntary car repo is worse, because that will be on your credit report as repo. With bankruptcy (Chapter 13) you...
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Does the owner need to sign a release form when their vehicle is repossessed?
You could get an answer from your state court consumer protection division re this question. But my common sense would be...
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Can a lending company of a repossessed vehicle put a lien against a vehicle in another state?
Repossession although it is unlikely they would know about it (unless they called her and she told them) the only way to be...
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Can your car get repossessed from the impound lot?
Most places cannot repo a car that has another lein on it, such as in your case. You will have to check your local law. ...
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Can the bank take your other assets after they repossess your vehicle?
After a judgment, a creditor can take other property of yours (even your house) in some states. Each state has different...
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Where can you obtain bonding and insurance for a repossession business?
Repo Business Insurance You can also contact me! I represent an Industry driven Program that was designed to package all of the...
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What if your car was damaged during repossession?
I don't have an answer for you, but I can tell you that you are not alone. The repo man who picked up my truck was midway through...
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What are the repossession laws in Texas?
Texas Repo Laws http://www.capitol.state.tx.us/statutes/statutes.html Business & Commerce Code self-help repo allowed NO...
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If you are making some payments but not all can they still repossess your car?
Repossession If they are accepting payments - that will reflect negatively on them if they try to take you to court on a...
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Does it still hurt your credit if your car was repossessed but you then paid off the loan in full?
Yes - but before you pay it off in full you can try get the finanance company to change what it says on your credit bureau by...
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Can a charge off become a repossession?
Repossession yes - I am suprised they didn't force place insurance coverage on the car when they found out you had no...
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Should you get a foreclosure loan?
Foreclosure loans Beware of this situation: You can't pay your mortgage and face foreclosure. A "lender" contacts you,...
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Does law enforcement know if a car wanted for repossession?
NO THE ORDER IS GIVEN FROM THE LENDER TO RECOVERY AGENT THE POLICE NEVER GET THIS INFO? Answer The police only know when...
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What software to review in the repossession business to expand to the skip tracing side?
There are a lot of significant tools for asset recovery and skip tracing, however the trick to the trade is having the right...
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Is it better to let your car be repossessed voluntarily?
First, talk to the lender and find out where they would want the car brought to, Second, before you take it there, make sure...
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Does a repossession remain on your credit report if you get the vehicle back?
yeah i got my vehicle reposessed and got it back next day possible. trust me you're not getting in the situation than trying to...
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What is the average cost to repossess a car?
There is no set fee for a repo. I charged 375.00 per car if it was a good address. 150.00 and up if i had to locate the car. and...
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How do you get rid of a car you can't afford to keep without having it repossessed and spoiling your credit?
Sell it, simple as that. People sell cars before they're paid-off all the time. Just call the finance company and see what...
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Are there limits on the storage fees repossession agents can charge?
To the best of my knowledge there is no limit. This is their way of robbing people and unfortunatly the city usually just wants...
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How do you start a repossession business in Delaware?
TITLE STATE: Yes. SECURITY INTERESTS: Shown on title, held by first lien holder. LICENSE REGISTRATION: Delaware Division of Motor...
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What if the bank didn't try to sell your car for fair market value?
The financial institutions use auctions for such issues. They, for the most part, do not have lots where they will attempt to...
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Can the city repossess your car for parking tickets and keep it?
NO, the city CANT repossess your car. They can impound it for a violation of a city law. The only one who can repo a car is the...
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Can you let the bank repossess one of your cars?
Yes, you can voluntarily give up one of your vehicles but still continue the payments on the other. It will, however, affect your...
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If you voluntarily give your car back to bank can they garnish your wages or put a lien on your home?
In most cases YES. You should talk to an attorney in your area for state specific advice. Yes, if the lender obtains a...
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How soon can a car be repossessed?
Your contract most likely states that the lender can demand payment in full at anytime. This means they can repossess the...
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Can a repo man drive over your property to repossess a car?
That is a case of damage to your property by them and you would have to make that claim against them. Obviously they can go on...
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Is there anything you can do if your repossessed car was auctioned for too little money?
The bank or finance company must sell the vehicle in a commercially reasonable manner. It is important to remember that when you...
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How can you regain ownership of a repossessed vehicle?
As you likely know by now, the lender has the right to accelerate the balance due when the car is repoed. Usually this is upon...
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If your car has been repossessed for the second time can they keep it until it is paid off or can you pay what you owe and get it back?
Most likely. If you file before the vehicle is sold, the Automatic Stay that gets imposed stops the sale. You can then go back...
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Can they repossess your car if you've paid for 70 percent of it?
Yes, they can repo it it you have paid everything except one red cent. You put the car up for collertal. It doesn't matter if...
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Is it best for your credit to let a jointly-owned car be repossessed?
the finance company won't let you get your name off of it. That way they can keep you on the hook since he can't pay for it. it...
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Which is better repossession or bankruptcy?
Better is not the best word, but a chapter 7 could wipe out the car debt and your other debt. If you just to the repo - they can...
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If they repossess your car can they also take your home?
This could vary by state, but in every one I have lived in only your Mortgage company can take your home. Other's can only place...
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How do you find out if a car you want to buy is being repossessed?
Simple. Ask to see the title. If it has the name of the person selling it, he/she has full ownership. If it has a bank name or...
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What are the laws on declaring bankruptcy after repossession?
It depends on the laws in the state where you live. You need to contact your lawyer. Answer I suggest you file Chapter 13...
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How do you become a repossession agent in Florida?
Michele,you must be sponsored by an "E" agent. For more info go to this link, FLORIDA DEPARTMENT OF AGRICULTURE & CONSUMER...
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How much money does the repo man get per car?
Well, it all depends on the agency and the going rates of your state. Answer Unless a "repo man" owns his own company he...
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Can a car only get repossessed after a payment is 90 days late?
A car can be repossessed after one late payment, that is considered default on the aggreement. If a person is still driving...
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What legal qualifications or licenses are required to become a vehicle repossession agent?
The smartest way to get in the business is starting to work for another company. There are many laws and regulations that very...
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Would a bank lie about having your car repossessed?
yes.. Answer They will have to notify you in writing that they have repossessed your car. They...
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What can a homeowner do to ensure that no liens are placed on their home for a repossessed vehicle?
Repossession and Home Ownership The automotive manufacture has two options when repossessing a vehicle. They will either tell...
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What are the repossession laws in North Carolina?
North Carolina TITLE STATE: Yes SECURITY INTERESTS: Shown on title held by lien holder. LICENSE REGISTRATION: North Carolina...
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What are the repossession laws in Oregon?
Recovery Requirements: Self help repossessions permitted as long as there is no breach of the peace. Deficiency balence:...
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If you had vehicle repossessed seven years ago and it has been turned over to a collection agency will the collection stay on your credit report until it is paid in full?
Repo on a Credit Report The question is a little vague, however here's what I can say: IF, and it should have been, the...
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Can just anyone come and repossess your vehicle or does it have to be a professional repo man?
In MOST states, the answer is YES. A few states require a liscense.
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What are the chances that a creditor will sue you just before the statute of limitations runs out?
The decision to sue a consumer to recover debt within SOL is often made with collectability and profitability in mind. The...
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After a repossession does the lender have to disclose what they are charging you for?
I don't know what state you are in, but in Illinois the bank by law has to provide you with a calculation of deficiency. We are...
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What is the name of the repo agent school in Florida?
Supposedly there are nine recovery agent schools in Fla. See the links to the right.
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Is it against the law to hide your car from being repossessed?
yes Answer In some states, yes it is specifically. In others, no. You are NOT hiding from the repoman, you are hiding from...
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Can your car be repossessed for 'non-payment' if your first payment has not yet come due?
Suzette, what are the details on your purchase? Such as what state? One reason for repo before ist payment due is a person...
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Can a vehicle get repossessed if your first payment is 15 days late?
Read the fine print of your contract carefully. I have never heard of a vehicle leasing/purchasing contract NOT having a first...
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What are the repossession laws in Missouri?
http://www.moga.state.mo.us/STATUTES/STATUTES.HTM Answer...
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If there is a repo fee on your account does that mean they are trying to repossess your car?
Good question...how did you find out about the repo fee?? Have you been repoed before?? Are you in default now?? If you're not...
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If you are divorced but your name is on the title of a home with your ex-husband can a bank put a lien on the home if you default on an unrelated auto loan?
the answer is yes they can,the question is why is your name still on the title after the divorce are you keeping the property...
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Is having a voluntary repossession on your credit report bad and if so how does it affect your credit and for how long?
YES its bad you dont get the lowest interest rates IF lenders will loan to you 7-10 years
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Can they repossess the vehicle if the owner is sitting in it?
No, they can not touch the car while anyone is in it, that would be kidnapping. But be careful they might call the police and if...
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Can you be charged for retrieving personal items from a repossessed car?
Okay folks, I am a driver of a repo truck in South Florida. I do not own the company, I just drive for them and yes, I very much...
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What is the law on a repossession of a home?
It depends on the state. Here in Utah, the mortgage company notifies you with a notice of default. This is when you haven't...
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Should you do a voluntary repo if you are not in arrears?
Hal, you BEST option is to sell one of the cars. But you're upside down, right? Get the best price you can for it and borrow...
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What happens when a damaged car is repossessed?
You are responsible for the entire amount that you owe them - (minus) the amount they get for selling it, which won't be much...
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What are Florida laws on hiding a vehicle that the repo people are trying to find?
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Can you get a repossessed car back by filing chapter 7 or 13 bankruptcy in Arizona?
This would be best answered by a good bankruptcy attorney who knows Arizona law.
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Can a lienholder initiate repossession of a car without any other supporting agreements besides the title?
If your name is in the lien holder place on the title, YES! You are the true legal owner of the vehicle. Contact your local repo...
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What options do you have when threatened with repo?
Lance, you can take the car back to them or you let them come get it. Its not a hard decision. Probably, you are 60 days behind...
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