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Can you repossess the car if payments aren't made on a private loan?
Wiki User
∙ 8y ago
It depends, if you did not have a security agreement on the loan, and if you didn�t file for a new title with your loan on it, you can�t enforce a repo (this is for Colorado, but it is similar for other states). It seems to be that you need to go to court, and prove to the court that you have a right to the car, depending on what is in that letter, and then the court can issue a repleven, which is a court order that can be enforced by law enforcement to get the car back. good luck.
Wiki User
∙ 8y ago
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If loan is not reaffirmed on a mortgage is the property still mine payments are made on time?
as long as you keep making payments the lender will probably not repossess the property. however, if you miss one payment the lender can repossess the property at any time.
How many days must a vehicle loan be late before it is repossessed?
They usually repossess when you miss two or three payments. They seldom repossess if you've just missed one.
If a person dies can you give car back to bank?
If the bank holds the loan, then yes. If the payments are stopped, the bank will repossess anyways.
Does the lender on a car loan have to notify the cosigner before they repossess the car in TN?
They should since they are just as responsible for making payments as the primary.
If you default on your auto loan will you still owe money?
Yes. Not being able to pay a loan doesn't absolve you from it. They may repossess the car if the situation calls for it, but you'll still own any back payments.
Can your loan company repossess your car if you are in arrears but are making payments?
Yes.
Can the bank repossess a vehicle even if the payments are current?
Not IF you reaffirmed the loan with the creditor.
Can the lien holder repo my truck when payments and insurance are current?
They will not repossess a vehicle unless you have defaulted on the loan. Defaulting on the loan is being late with the payments. Call the lender and talk to them.
What can a creditor do if you stop payments on a secured loan that was not reaffirmed?
Repossess or foreclose on the secured property if the agreement is in default.
If you are in repossession status and are making efforts to pay on your late payments can they still repossess your vehicle?
Once the loan is in default the bank has the right to refuse payment and repossess the vehicle.
If loan is not reaffirmed on a mortgage is the property still mine payments are made on time?
as long as you keep making payments the lender will probably not repossess the property. however, if you miss one payment the lender can repossess the property at any time.
How many days must a vehicle loan be late before it is repossessed?
They usually repossess when you miss two or three payments. They seldom repossess if you've just missed one.
When do banks repossess boats?
Banks will repossess boats when an individual fails to make payments on their loan. Notices will typically be sent out and those continue to be unanswered and unpaid then repossession will occur.
When can a bank repossess someones car?
When the owner defaults on the loan payments
Can a loan company reposses my car they do not have the transfer of lien on?
If that loan company loaned you money and you used the car as collateral and failed to make payments on time, they can, and will repossess the car.
Will the bank repossess your car if it has been stolen and in an accident and the insurance was expired?
As long as you continue to make the payments, you are OK. If you fail to make the payments, they will repossess the car, sell it, and you will then owe the difference in what it sells for and the balance on the loan. The previous answer overlooked one important point. INSURANCE WAS EXPIRED If they don't repossess it, it is only because it is worthless after the accident. What they would prefer to do in this case is "accelerate the payments", i.e. make you pay the remainder of the loan immediately. Then you can worry about disposing of the carcass.
If you are gifted a car in a will that is not paid for how long does the estate legally have to give you to pay off lien?
If you inherit a car that is subject to an outstanding car loan you need to keep up the payments with the LENDER according to the terms of the original loan. If you default on the loan payments the loan company can repossess the car.
