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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 are the Massachusetts laws on repossession?
i know all the answers but that info is too valuable for me to give out because i'm a repoman and it would lose me...
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If your car was repossessed and you paid all the fees but were not able to reclaim it for two days because of a holiday will the repossession appear on your credit report?
It would seem that the report would show you have failed to pay as agreed and make payments, and had a repossession (as your...
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If a guy tried to sell you a car but when you looked up the VIN it showed up as repossessed can you buy the car from the repo people if you tell them where it is or will they not sell it to you?
No. The Car Doesn`t Belong To The Repo Man. Thats His Job, To Get It Back To The Loan Company. Bank, Ect. If You Can Find Who...
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How much of a car repossession is taxable?
One consideration would be that cancellation of a debt becomes income, and is taxable. But a repo isn't a cancellation of debt,...
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Is it illegal to repossess a vehicle in Texas?
No, not if the contract is in default. The lender/lienholder may repossess the vehicle under UCC laws as long as it can be...
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Can a bank repossess a car if it is used in a crime?
I know the police can confiscate vehicles used in crimes. And if there is a clause in the loan agreement saying they can...
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In Texas are there any forms you need to fill out in order to repossess your car back from an individual?
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How do you get your car back after repossession and after filing Chapter 13 Bankruptcy?
You would be better off buying a lower priced used car and getting your financial house in order. If you still believe you want...
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Do repossession agents take a picture of the car before they try to take possession of it?
That is a decision made by the lender, and some do have photographs taken before the car is seized, but it is not a legal...
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What are the consequences if a person quits making payments and the car is in your name?
Repo If your name is the borrower name and someone else is making payments and they suddenly stop; then the car will eventually...
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Is it legal for a lender to contact members of the debtor's family and inform them they are trying to locate the person about a defaulted vehicle loan?
Yes. The FDCPA allows creditors to contact the debtor's parents, siblings and in some cases other relatives. The family...
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In Georgia can your car be repossessed if you are behind in payments but have been making up the arrearages?
Yes. Once you have failed in the conditions of the loan agreement, the lending institution can forclose if that is the remedy...
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Does a repo agent have to notify you if they are going to repossess your car?
no
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What happens if you do not voluntarily surrender the vehicle and you continue to hide the vehicle from being repossessed?
They call that Grand Theft Auto. It's just a car, give it back. Answer It is possible that the lending institution may...
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What can be done to you in Florida if you are the cosigner on a vehicle that is up for repossession but your husband is in possession of the vehicle and they cannot find it?
They will come to you for the money if they can't find him. It will be on your credit as a repo as well. As a co-signer, you...
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Can a creditor sell the title to an auto loan that has gone into repossession and claim that the vehicle was stolen?
The creditor is the lender. In most states, they have a lien on the title to secure the loan, but are not the title holder...
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If you voluntarily relinquish your vehicle will the lender allow you to repay any deficiency after the sale of the vehicle at 100 dollars a month?
It's not possible to give a definite answer as it would be the lender's decision alone. However, most lenders are willing to...
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What can you do if you are struggling to make car payments and are 30 days behind and you did have a co-signer but you can't afford the payments anymore?
if you need the car and the money situation is temporary many companies offer payment deferment which could buy you an extra 30...
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What are the laws for being a repossession agent in Delaware?
Get yourself a business license and some clients.
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Is it illegal for a repossession agent to call the police after you refuse to give him the vehicle and order him to leave your property in Washington State?
No it is not illegal for the repo agents to call the police because if it's a reposession, the lender has a financial interest in...
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Can they repossess your car if you have the title with no lien holder?
If you signed promissory note using the car as security, then yes, they can repossess your car. You need to ask to see the...
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Can the lender legally repossess the vehicle while you are there making payments and add a 200 dollar repossession fee?
Yes, it is legal. You just made it easy for them. It is a pricey lesson, sorry. The $200 paid is partly for the driver,...
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How do you bid on a repossessed mobile home?
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What is needed to start a repossession business in Georgia?
check it out check out laws and regulations in your stae(georgia)
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If the dealer accepts partial payment can they still repossess your car?
Yes. Once the lending agreement is in default the lender may take whatever action they choose in recovering the monies...
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Under Texas Law are you risking a stolen vehicle charge by running from the repo man and avoiding the bank?
No, its a Civil matter. Law Enforcement deals in Criminal Law, not Civil Law.
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What will a lender do if someone takes their car overseas and then stops making payments?
The lender will have the right to pursue a civil judgement in court for the outstanding debt. If not paid, wages can be...
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What should you do if you are the primary owner of a motorcycle and have transferred the title to another party but your ex refuses to relinquish the bike?
Primary, not sole? Implicit in the question is that you were not the sole owner. If you were, then your ex had no right to...
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Are you allowed to obtain your personal property from your car that was repossessed?
Yes You Are !!!!!!!!!!!!
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Can your loan company repossess your car if you are in arrears but are making payments?
Yes.
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If a vehicle is stolen and you haven't made this month's payment is it possible it can be repossessed?
You should have reported the theft as soon as possible. Regardless of theft, you are responsible for the payments. Hopefully,...
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How do you get rid of a surrendered vehicle if the creditor never picks it up?
You drive the car to the nearest office of that creditor and get an employee to give you a receipt or letter stating that you...
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Can a motorcycle be repossessed if the co-owner has a bankruptcy?
A motorcycle is considered a secured debt, meaning the cycle itself is the collateral for the loan. Bankruptcy temporarily...
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What is the process for repossessing a mobile home in Florida?
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Can your car be repoed if you're 90 days behind on car payments but are sending them 50 to 100 each month and have notified them in writing that the payments will be caught up completely in July?
Any action which is in violation of the original contract can result in reposession. If you don't pay insurance, late on payments...
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If a financed vehicle is contracted with another person who is not making payments can it be repossessed?
If you're asking whether the vehicle can be repossessed for non-payment, it can, regardless of who's supposed to be making...
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Can you go to jail if you do not pay the debt against a voluntarily repossessed vehicle?
The only thing that can happen is that they sue you. The key is to stop promising payment. If you make any sort of deal to pay...
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Can the repo company charge you a fee to get your tag and personal items back in Florida?
they should have given you your tag i think? my car was just repossed and they gave me my tag and let me get my stuff out
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What can you do if the repossession company overcharged you for repo fees?
You may want to check your state's statutes. In most states, repo companies can charge a fee and it's completely legal. If, in...
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Where can you find information regarding the laws and repossession of vehicles in Texas?
You could try the Library or possibly the local courthouse.
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Can you get your vehicle back after it has been repossessed?
Yes, you can. Alot of times they will work with you. They don't want your car, just your money!:)
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Can a car place repo your car if you have made half of your payment?
Not making the entire payment is still a default on payment. You will be charged the late fee and you will need to make it right...
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Can a credit card company take your home because of an unpaid balance in Virginia?
NO WAY Yes. In the majority of U.S. states any creditor (including credit card issuers) can file suit and if they win can use...
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What can you do if you just recently had a chapter 7 bankruptcy then soon after had your car repossessed?
Usually a car you are still driving cannot be included in a chapter 7 unless it is turned back into the finance company because...
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What should you do if the lender obtained a judgment to repossess your motorcycle eight months ago and they have yet to pick up the motorcycle and you are in Wisconsin and the lender is in Texas?
Nothing..... it is the responiblty of the lender to arrange someone in your state to repo the bike (or car). Keep your insurance...
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How does one as a private citizen repo a car that is in the names of that perons and the former boyfriend?
Consult a lawyer, there are too many variables to answere online with no background. Local laws need to be followed. Your local...
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Can a vehicle be repossessed if the borrower does not make a good faith payment to the lender?
Most loan contracts state that if you are late, they can call the entire amount due. If that has happened and you have not paid...
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What do you need to become a Repoman in the state of Arizona?
no self esteem
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If the lien holder reposses the vehicle and sells it are you legally responsible for any remaining balance?
Yes. That's a common misunderstanding by a lot of people. You are responsible for the entire loan amount. The vehicle title is...
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What happens if you don't pay your car loan?
The repossess the car, can get a judgment against you and your credit is badly damaged.
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What to do if people missed sixteen days on a payment of a truck that they took payments over from a family member and then they repossess it without motifying you?
Well, a vehicle can be repossessed with no notification, so there's not much you can do about that. If the payments were taken...
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What happens if insurance has lapsed with car damage before repossession?
You will have to pay the difference between what the finance company gets when they sell the car and the ballance on the loan....
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If your car is being repossessed and you tell them to wait so you can retrieve your pp but they leave can they charge your for getting your pp back And yes you do have a witness?
No, they don't charge for that, but you should have told them to go away. Then they could be charged with criminal tresspass or...
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Your sister took out a loan for a vehicle for you The loan is in her name and registration tags etc you didn't make payments to her for a few months now she says she is taking the vehicle back and sel?
She can do that. It is legally her car and according to the paperwork, the state will view it as "she was renting the car to...
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Will a repossession affect my husband if his name is not on the loan?
Perhaps. If the married couple resides in a community property state, all debts and creditor action apply to both spouse's if the...
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If the loan for a vehicle is in one person's name and the tite in another's what are the rights of the person on the title if the vehicle is repossesed?
None, unless the person who is named on the title chooses to make an agreement with the lender to refinance the car in their...
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If you call in a voluntary repossession do you have to keep paying on the car until its picked up?
If it drives, take it to the finance company and hand them the keys.
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If your car is repossessed and is sold for more than you owe are you due a refund?
YES Answer um no ! Answer Technically yes, but there will always be fees attached that run up the price, such as fees...
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What are basic repo storage fees etc typical in NY?
It can vary from repo company to repo company. but on average in the ny area storage fees can range from $15-40 a day. It depends...
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Can your financial institution have your vehicle reposessed if they don't have your current address?
Only if you are behind on the payments........ Finding your current address is about as hard as posting this question on this...
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Do repo people have to ID who they are when they come on private property?
Repo people are the scum of the earth. They are nothing more than prostitutes for finance companies. Yes, the can follow you as...
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If you are a co-signer on a car loan and the car is repossessed are you given the option to buy the car yourself before it is taken to auction?
no you do not get to puchase the vehicle before it is auctioned the loan company will have tried to contact you to make the...
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What can you do if a car repossession from three years ago is listed on your credit report as a charged off bad debt?
Since it's accurate, there isn't much you can do about it. If they had lied or if someone else had done it perhaps you might have...
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Does a borrower to receive a letter from lender after they Repo a car?
Yes. You should receive a POST REPOSSESSION LETTER (PRL) which will advise you that the vehicle was respossessed and will outline...
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Can you get your personal items back after they have beenn repossessed?
Personal Property Retreivel Yes,you can either call the local police or the bank/finance company and obtain the repo agencys...
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Can the bank have someone come into your job and ask for the car that is to be repossessed?
Yes!! Banks pay a lot of money for collectors and repossessors to try to contact you. Collectors first try to get you to make the...
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The bank repossessed your motorcycle what will you still have to pay?
the bank will sell the motorcycle normally at auction what ever it sells for is taken of what is owed and you pay that balance if...
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Can the reposession company have you arrested if you dont turn over the car?
Not at all. repossesors are stricly independent companies and never governmental agencies due to the sketchy means of acquisition...
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How can you find out where a bank will sell your repossessed vehicle?
It will most likely go to a wholesale auction where only licensed dealers are allowed to bid.
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If you paid 13990 with 7000 down and have made payments but they say you owe 11000 what can you do about the extra charges you don't owe since they have the car?
You do owe them, that is why they are telling you to pay them. It sounds like you owe about $11,000 because you didn't pay off...
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How far behind in payment do u have to be before repo happens?
It depends on the state that you are located in, the contract that you signed and the lender that you have a loan with. I am a...
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Can a car lot sell you a car with an active recall on it?
In Washington State, if you buy a used car and it breaks in half after you drive off the lot, then you own both peices. In other...
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What can be done if a friend used your credit for a loan to buy a car for their use but the car got repossessed and now left you the only signer with a huge debt?
Some friend you have there. Call the police and have him prosecuted for credit card fraud. Answer thanks but it wasnt my...
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What are the laws about repossession when payments are current?
This is one question that I had to get the answer to recently, and with the quickness! I learned that the laws governing the...
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Will you get sued for the money you still owe after your car is repossessed?
If you don't pay the balance of the loan after repossession, the lender can take you to court for the remaining balance or they...
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When a car is repossessed is the owner supposed to have been given a right to cure letter first?
Depends on which state you live in. Most states do not require a Right to Cure letter prior to repossession but a few of the...
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If your car has been repossessed and you cannot pay what you owe should you let them sell it?
You have no choice.
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What will happen if your car down payment bounced and you made a particial payment?
The car will probably be repossessed.
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Does the car stay in the same state it was taken from?
Not necessarily. More than likely, the car will be transported to the state the lender is in unless they make other arrangments....
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If your car is reposessed years ago and it shows as a charge off do you still have to pay back how does this work?
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After your car gets repossessed and you pay the outstanding amount how long do you need to wait before they give you your auto back?
Depends on your state. In AZ, they cannot liquidate the collateral for ten days after repo. If it has been longer than 10 days,...
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Is there a period of time after a car is repossessed before the dealer can sell the car such as 30 days?
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Can criminal charges be brought against you if your car was supposed to be repossessed and you have not turned it over?
Usually, the payment agreement for your car is considered a civil issue and should you choose to turn your car in after they have...
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How long does the loan company have to bring a suit for a repossession and is there a statute of limitations for it?
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Is the bank required to send a certified letter before they can repossess a car in Colorado?
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How long will a car repossession in California remain on your credit report?
7 years is the norm.
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What is required in Florida to start your own repo company?
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What are the vehicle repossession laws in California?
what are the case laws for vehicle repossessions in california
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You had a full 1000000 mile warranty and gap insurance on your car what do they do with that when they sell it at auction?
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Is it possible for the plates on a car to be returned?
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If the bank repossess your car do you still have to pay your car payments?
NO but why would they repo if you are making payments.
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Can your car be repossessed by an auto repair shop if you own the title to it?
Yes if you owe for repairs. But you may need to check state to state laws.
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If your vehicle was a voluntary repo but they will not come to get it and have not sent anything else is there a way to charge them storage?
I wish !!!!!
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Can you return a car leagaly if the car is broken and you pent lots of money on it?
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If you voluntarily relinquished your car due to your unemployment status can you be subpoenaed to pay the remaining balance after they sell the car at auction?
They are not lying to you. Answer A repo is a repo is a repo.
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In Arizona if your vehicle is repossessed and your get the vehicle back is it illegal for the repossession agent to charge a fee before they will return your licence plate?
In the State of Arizona, the license plate belongs to the debtor. They cannot charge you for your plate but they can charge you...
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If your car was repossessed 7 years ago can creditors come after you for payment now in the State of Georgia?
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How late on payments do you have to be before your car can be repoed in arizona?
Depends on your finance agreement. Most say that after you miss a payment it can be repo'd. There really is no state mandated...
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Bought a car in 2003 within 30 days the transmission went outleft the car at autorepair at the request of dealership It is now 2005 and they came to your house looking for the car and to arrest you?
Hi, not sure what state you purchased the veh. in. I would look back at my contract for terms such as "AS Is" and what type of...
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In georgia usa how much notice must a lender give a borrower before selling a repo at auction in another state?
When you finance or lease a vehicle, your creditor holds important rights on the vehicle until you've made the last loan payment...
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