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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
Can they leave the repossession on your credit report if you still have the car you have paid and totaly caught up?
Yes it stays that is what happened, by bringing your payments current you don't change the past. Answer It stays. ...
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Does the bankfinance company turn in your tags by law?
In CA. and some other states its the law. Answer Some states say the plates stay with the vehicle, some states say they stay...
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Can a person in the military who is not on overseas duty be sued for the repossession of a wrecked vehicle?
Did you have insurance when it was wrecked???
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How will a repossession hurt you?
Brent, who held a gun on you and made you sign the loan papers?? You got ripped off by your own self. Anyway, if you let it go...
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If you let the bank repossess your car will it show on your credit as a repossession or just that you owe them an amount due?
BOTH
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Can a repossession agent repossess a vehicle for an individual and if so how can you locate one in Texas?
YES, IF your paperwork is in order, you can agree on a price and the unit is accessable. repoman.com for Texas repo...
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If you know a car is wanted for repossession how can you contact the proper authorities to let them know?
Well, you need to contact the LEINHOLDER to tell them where the car is livibg. LOL OR contact a local repo company and let them...
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How can you repossess a car in Missouri you sold to a friend with only an oral contract that he would make monthly payments?
If you did not give him the title, all you need to do is go get the car (hope you kept the spare key). If you did sign the title...
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How can you find out where your repossessed car is being kept if lender will not tell you so you can get personal things out of the car?
LaTonya, it seems unlikely that the lender would refuse to let you get your PP UNLESS you are wanting something...
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If a loan is satisfied and the credit union faxes a release to the repo man how long does he have to release your vehicle?
BUSINESS HOURS are business hours. Usually 9-5 Mon-thru Fri. BUT, a lot depends on your attitude. NICE people usually get better...
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How can you get your car back if the finance company wants you to make the loan current and pay to get the car out but you can't afford to?
Gee, Hery, I dont see any way for you to get it back.
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Can an individual repo a vehicle that another person is driving when the title or contract remains with the initial person?
IF the initial person has a key and is not scared the other person will be mad. LOL Try to do it while she is at the mall or...
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If you have a voluntary repossession on your credit but no one has picked up the car how long do they have to pick it up before you can sell it or fix it?
After a Charge-Off How can you sell it, if you dont have a title? I suppose you could fix it and drive it until the lender...
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If you are threatened with a repossession can you pay the balance before they repossess the car?
IF the lender accepts it you can.
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Can they charge a 200 dollar repossession fee when the repo man did not get the car?
READ your contract for details. They had to pay the repoman to go to the gate, to find you, its a fee incurred to service your...
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Can a creditor sell an account charge off and still list a balance owed?
the original creditors claim should drop off and the CA claim stay. Double?? Likely, the unterest and fees are building up. Try...
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If your vehicle loan was made in one state but the vehicle is currently in another state which state's repossession laws apply?
the state the car is in govern the repossession, the lenders choice on which state governs collection efforts. Read your contract.
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What is the California statute that talks about the breach of peace during the repossession of the car?
The 'law' simply says DO NOT BREACH THE PEACE. The courts on the other hand have added a few fine points to the intepatation. IF...
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Can a bank do a repossession and charge off on your car and also demand payment of balance after selling the repossessed car?
YES, its an accounting thing. READ your contract.
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Must the police be notified prior to repossession in the state of Arizona?
azleg.state.ax.us I see such requirement. I have been wrong before so I included the link.
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Do you have to notify the DMV if your car was repossessed?
NONE, the lender will take care of it
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What happens when debtor files bankruptcy Chapter 7 and lists the car as a voluntary repo but it is not picked up after a year?
It belongs to the lender and YOU get to store until they come pick it up. Answer yes...but dont forget to let them know you...
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Once your car is repossessed can you ever get another car loan?
Sure, you can. The entire sub-prime lending market is waiting for you. Max legal interest rate, higher DP, its all about...
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If you gave your son a vehicle and put yourself as a lienholder on the title can you legally repossess it?
Do you have a contract or agreement that says he will repay you? Has he breached that agreement and is he in DEFAULT of it by not...
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How does someone obtain a license to repossess vehicles for small companies?
Actually, it depends on your state as to whether you need a license. Lenders prefer educational and/or training certs. You do...
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Do you need to disclose two repos when trying to buy a new car or can you just disclose the bankruptcy?
Seems strange your attorney wouldnt/couldnt advise you on this. 1st, was the loan that involved the repos DISCHARGED in the b/k?...
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Can your car be repossessed if the California DMV sent you a pink slip with no lien holder and none are listed on your registration?
IF there is a perfected security interest for a loan that your car is collateral for, YES it can be repoed, in FLORIDA or...
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Can you go to jail if you can't afford to pay the balance owed on a repossession and have no real property?
NO, there are no more debtors prisons.
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Does the repossession agent have to let you take the plates of of the car in Missouri?
Last i looked the plates STAY WITH THE DEBTOR. Maybe he planned to drive your car all weekend. Was it a nice ride? CALL the...
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Is the lender required by law to notify you of the date and place of a private sale or auction?
legis.state.ga go here and search on repossession
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In Florida can you be arrested for concealing a vehicle that a bank wants to repossess?
IC 35-43-4-5 Defenses Sec. 5. (a) An owner in possession of encumbered property does not commit a crime under this...
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If you have a voluntary repossession and the vehicle sells for less than owed can the lender garnish your wages for the difference?
YES, in most states under most conditions.
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Can you negotiate the deficiency balance that you will repay with the law firm representing the lender?
ANY SERIOUS offer will be listened to. REM, CASH TALKS,,,,,,,,loudly. FORGET "payments", you had that chance already.
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Can a loan company hold a sheriff's sale to collect on money owed after the sale of the car at auction?
Call a local attorney for state specific advice. They usually give a free "consultation".
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Will a bank try to collect from a buyer before a co-signer or do they go after both at once?
both
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Can a creditor put your auto in stolen status in attempts to repossess in the state of Oregon?
NO, you cant steal your own car. You might ATTEMPT TO HINDER A SECURED CREDITOR.
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If a small payment is made after the statute of limitations expired does this reset the clock in New York State?
To the best of my knowledge, YES. Thank you for including what state you were inquiring about.
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Does gap insurance cover the vehicle if repo is made?
http://www.autoinsuranceindepth.com/gap-insurance.html Google can find lots of things
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Can the lien holder take a car from a auto repair shop if the bill has not been paid?
IF the car is not in a secure storage area, YES. They cant breach the peace(cut locks,ect)
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How do you reacquire your car after its been repossessed?
You contact the LENDER. Very simple. Answer Have the bank /lender fax the exact amount you need to pay and tell them you...
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Can the repo man search your stuff and then tell you that hes turned it over to the police and you cant have it back?
He has the right to turn over ALL illegal substances and items to the police. You have the right to go to the police and retrieve...
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If you owe money on a car still and it gets repoe'd does the amount at auction get deducted from your debt or what?
The car is either sold privately or at a closed auction.Then that the amount the bank receives from the sale(the car is usually...
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What type of licensing and insurance is needed to start an automotive repossession business in the state of Tennessee?
Ask the state of Tennesse, thru it's web site. Look for regulations and state licensing requirements. Unless you have current...
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How do you find the owner of number plate?
Contact Your Local Motor Vihicle Office
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Does a repossession stay on your credit report if you get the car back?
YES
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Do you really have to pay the difference between the amount owed and the auctioned amount?
YES
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Can a collector call wanting 10K on a car that was turned in two years ago and say they are going to garnish your wages?
ONLY if they have a judgement for the balance owed on the loan
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Is a voluntary repossession worse than a normal repo on your credit report?
Sorry to say, its about 1% better than a 'normal" repo. try to sell the car. You'll get much more than the lender will at...
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If your car was repossessed no letter was sent and a demand for the full amount was made afterwards and all of the expensive items were stolen from the car while in their possession can you sue for theft?
None may be needed in your state. Consult an attorney about your case. If they take it, you are on the rooad to success. Good Luck
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Can the bank put a lien on your home for the balance after the repossessed auto is sold at auction?
YES, after they get a judgement for the amount still owing on the contract. That amount can be applied as a lein against other...
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How do you start a repossession business in Texas?
Does the word M-O-N-E-Y ring a bell? LOL Decent truck=$25K,INSURANCE(IF you can get written)$15Kper year office= phone...
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What will happen if a car has no motor or transmission when it is repossessed?
You are kidding rite?? You took a bad motor and tranny out just so you could look at the empty space?? LOL Did you think of this...
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If you sell your car after using it as collateral on a loan can you be prosecuted?
You could go to jail for selling a car that you owe money on. Felonies are different in different states. Call a local attorney...
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Can you sue your sibling for letting your car get repossessed?
You should call a local attorney for a free consultation. I would guess your chances of COLLECTING are slim to none.
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Can a lender still repossess your car after a lawyer told you to tell them that you were claiming bankruptcy?
The lender has to get the STAY lifted before they can repo.
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If you file a Chapter 13 bankruptcy does that automatically stop a repossession?
YES, its called an AUTOMATIC STAY. ALL collection efforts must stop as soon as they are notified of your filing.
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How long can they keep sending you bills from different collection agencies about one car?
likely another 10 yrs. or until the SOL tolls.
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What are the laws for a personal car repossession when the buying party has defaulted and the title is still in your name?
The laws vary by state. ALL states require that there is NO BREACH OF PEACE in a "self-help" repo. There are some states that...
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If you are avoiding repossession by hiding your car is it still considered repossession?
thats like saying, "I was speeding, the cop couldnt see me cause I had MY eyes closed". If you are in default of the contract,...
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If you volunteer a repossession do you have to pay off your car loan?
YES, you have to pay off the loan. You have agreed to pay the lender X number of dollars for X number of months in return for...
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Can the bank garnish your wages or put a lien on your house for a voluntary repossession in Pennsylvania?
http://www.pacode.com/secure/search.asp search the PA code vol. will make no difference
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Can a loan company in California have your car repossessed if you haven't been able to carry car insurance?
YES, if you are in DEFAULT of the contract (NO ins. coverage) they can repo.
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If your car payment is not due until the 30th of the month but the bank wants it ASAP can they do anything if you wait until the 30th?
Did the bank give any reason WHY they wanted it in by the 23rd? Did they just pick your name out of a hat and say" Lets make Jane...
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Can you file the balance that you owe the bank after your car has been auctioned on your Christian Credit counseling?
read the info from CC that you should have to see if "def. bal." is covered. OR call CC.
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To retrieve a repossessed car you have to pay the back payments plus the next one due storage fees and a large amount to the agent who is the agent?
Talk to the lender! Don't let an "agent" get in the middle and confuse you. Let the lender tell the agent what to do. Answer...
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When a car is repossessed in Minnesota what are the laws?
YES, you will have to pay the balance due after the...
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What should you do if you have not been able to make payments for several months but have not heard from the finance company?
"What should I do?" Legally, you should contact the leinholder and arrange to deliver the car to a mutually agreeable location....
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How much are repo fees in Chicago IL?
depends on how hungry the repoman is and how much the lender will pay. Could go either way for either one.
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Can you get your belongings out of your vehicle after a repossession?
YES, you can. The lender or repo company CANT keep your PP. They may charge you a fee for inventory and storage but they cant...
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Can they repo a leased car 2 months before the end of the contract with payment schedule in place?
READ your lease. The lender can repo as long as you are in DEFAULT. As long as there is money owed on a contract, the collateral...
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What options are there for a car that has been repoed even if the monthly payment was made on time?
Cure whatever terms you were in DEFAULT(ins,ect) of. The LENDER can tell you exeactly what they require.
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Can a creditor tell you to go get a loan to pay a car repo balance?
YES, but so can I and it wont buy yu a cup of coffee. What they "tell" you to do and what you "can" do maybe be FAR apart. Tell...
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Can a person surrender a car to the bank in Arizona without the bank collecting the difference after they sell it?
NO. Think about it, IF this was true,EVERYONE would buy cars in AZ and nowhere else, just to get around paying the balance due....
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Where can one find a good lawyer in Iowa if you wish to sue the bank that repossessed the wrong vehicle and items were missing on return?
IF one has truly been WRONGFULLY repossessed, one should not have a problem finding an attorney to take one's case. One is NOT...
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What can the co-signer do if the borrower can't make their car payments?
"""the co-signer do if the lender can't"""????????? New one on me... IF the debtor/signor cant/wont make the payments, the...
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Will sending a finance company a cease and desist letter allow someone to keep a car?
No. A C&D letter is simply a request to cease contact. The vehicle can legally, and probably will be repossessed.
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If a buyer defaults on the contract but it isn't stated in the contract that the vehicle can be repossessed can it still be taken?
You need to contact a local attorney for state specific advice.
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What other ways can the lender collect the money if you are retired and have no income?
After the lender gets a JUDGEMENT for xxx number of dollars, they can attach other property you own, Depending on your state laws.
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How do you do a voluntary car repo with a credit union if you have a co-signer?
The proper and best way is to talk with the co-signor FIRST. A repo will affect their credit as much as yours. Talk to them about...
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What are the repossession laws in Rhode Island?
http://www.rilin.state.ri.us/Statutes/TITLE6A/6A-9/6A-9-609.HTM that should get you started. Read the contract you must've...
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If you are in chapter 13 in Pennsylvania but moved to Florida and cannot afford your car payment and voluntarily surrender the vehicle what will happen with bankruptcy court?
A number of things can happen based on number of different factors. You won't have the monthly car payments anymore, so you...
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Can your ex-boyfriend who is a cosigner repossess your car?
If you have renigged on paying your portion of the car bill, yes.It doesn't matter who he is. The fact is...he cosigned for you....
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What could happen if you stop making payments to a 'buy here pay here' auto dealer?
If you stop making payments, someone will come get the car. Simple. If you take it back to the lot, they will sell it again. And...
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Can disability income be garnished for a repossession?
NOPE
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What right does a repo company have to pull a persons credit report when the car loan was completely discharged in bankruptcy 2 years prior to the pulling of the report?
WHY did they pull it? Did you discharge the debt and forget to return the car?? If so, they were probably hunting the car. ...
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How late can a repossession agent call or visit your home to collect on an automobile loan and can they call or visit repeatedly after they have been told that the person does not live here?
To COLLECT??? 9:00 PM unless they are reasonably sure you are up(see you moving around,out in the yard,ect) But, REPO agents dont...
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Can your father take a car that you purchased with your mother as a cosigner if you were behind on payments but have caught up?
Joce;yn. your Dad is probably doing his best to protect your's and your Mom's credit. He has an interest in your Moms credit ,...
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Can a cosigner take the car away from the borrower if he is in default and the cosigner has a key and is paying the payments?
Bill, ONLY if the co-signor is listed ON THE TITLE as CO-OWNER. Co-signors only responsibliity is to make the notes if the signor...
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What happens if your repossessed car is sold for more than you owed?
Randy, IF it sells for more than the unpaid balance, you should receive the excess.
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After repossession is it legal for the bank to make you requalify for the loan?
I didnt answer because I have never dealt with this b4. I hoped someone with experience would help you. From the banks viewpoint,...
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If your car was repossessed and your father co-signed for it and he is filing for bankruptcy will this be discharged?
Good news and BAD news. It WILL be discharged for him. It WONT be discharged for YOU. You will be expected to pay the WHOLE debt.
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If you do not nor ever had a contract with a financer of your car how late do you have to be on your payment for them to repo?
WHY are you even paying notes to someone who has no secutiry interest in your vehicle?? You can be ONE day late and be in default...
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What if your motorcycle was stolen a police report filed and then repo man shows up?
Make a copy of the police report for the nice repoman. he can then double check the report and give the info to the lender. That...
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Can the company sell the vehicle after a second repossession without you catching up on payment?
It depends on state laws, but in most places, the notice you got on the first repossession probably said "in the event that you...
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How long after you let the lender know of a voluntary repo and the car has no plates and insurance should it be picked up?
Gpysy, they have about a year to come get it. LOL Most wait until you are 90 days late to give you a chance to come up with...
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If you have recently had a vehicle repossessed by a non-licensed or bonded company what can you do legally?
What would you like to do?? Does your state require a lic. and bond?? IF NOT, so what? If so, call an attorney ASAP.
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Can a lender repo a car in Pennsylvania if the person is just one month and 7 days late on his payment?
Check your contract for anything special, but I see no reason why they cant.IF you are in DEFAULT, YES, they can repo. Answer...
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What happens if you unknowingly bought a car that had a loan on it and the loan is not paid off can they repossess the car?
YES, they can. The person who sold the car can be charged with selling mortaged property(felony in most states).You will be out...
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Does a person who shares the title on a car but who is not on the loan have any legal responsibilities if the car is repossessed?
NONE on the loan.
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Can anyone tell me what type of income and benefits are offered in the business?
If you hire on with a good company in/near a major city, you can make 45-60K a year. benefits? LOTS of driving,health ins.
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