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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 26400
What do you do if you have completed bankruptcy and the lender has not picked up aut?
Call the bank and ask. They will not lie about it. If your car has been repo'd, call your local law enforcement agency....
Popularity: 776 • Tools: Recategorize
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...
Popularity: 731 • Tools: Recategorize
How long does a repossession stay on your credit report?
It stays on your credit report for 7 years to the day the loan became delinquent. Say you made your last complete up to date car...
Popularity: 516 • Tools: Recategorize
What is the length of time creditors have to file for a claim against you after repossession in Pennsylvania?
That varies from state to state, but in your case about 10 to 14 days. Its time of proces is counted on importance.
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When can your car get repossessed and what are your rights?
Anytime you borrow money to buy a car, you should know that: The lender can repossess if you miss a payment or for any default...
Popularity: 389 • Tools: Recategorize
Where can you buy repossessed cars?
Here is a variety of advice: If I were you I would check out your county for repossessions to be sold they generally sale...
Popularity: 373 • Tools: Recategorize
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...
Popularity: 369 • Tools: Recategorize
How much does title insurance cost?
Title insurance rates vary from state to state and market to market. In some states, the fees are set by the AGENT, and are...
Popularity: 357 • Tools: Recategorize
Is there any way to get a repossessed car back without paying the loan in full?
You may have a certain right, known as a right to cure, whereby you are given a grace period to resume the original contract...
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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?
I am a co-signer for a large car loan for one of my adult children. I wanted to know what rights I had when it came to my...
Popularity: 289 • Tools: Recategorize
How can you avoid repossession?
Maybe you shouldn't buy what you can't afford. The longer you don't pay the harder it will be to reclaim it (should you try), and...
Popularity: 286 • Tools: Recategorize
Can you get your car back after repossession?
Popularity: 283 • Tools: Recategorize • Needs Answer
What if you didn't get a notice about the repossession?
In 9 (nine) states the leinholder has to send you a "right to cure" letter before they can repo. The time given ranges from 5 to...
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Where can a new repo company find insurance?
Your state insurance department is your best resource for insurance-related questions and concerns. Find information on insurance...
Popularity: 269 • Tools: Recategorize
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...
Popularity: 269 • Tools: Recategorize
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...
Popularity: 268 • Tools: Recategorize
Does a cosigner have rights to the car?
Here are answers and opinions from FAQ Farmers: IN THE EVENT OF FAILURE TO MAKE A PAYMENT OR IF THE VEHICLE IS INVOLVED IN AN...
Popularity: 267 • Tools: Recategorize
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...
Popularity: 252 • Tools: Recategorize
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?
Bottom line: YES it can. Although many things could factor into this answer, such as, have they given you anything in...
Popularity: 248 • Tools: Recategorize
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...
Popularity: 245 • Tools: Recategorize
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...
Popularity: 244 • Tools: Recategorize
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...
Popularity: 239 • Tools: Recategorize
In texas can they repo a car from your driveway on personal property?
The only time I've ever had the law on my side while in the process of a repossession is when it's been court ordered. For...
Popularity: 239 • Tools: Recategorize
Can you save money by purchasing a repossessed car?
Jo, the odds are NOT good unless you are or have access to a mechanic. BUT, you may have bought a repo before. It depends on...
Popularity: 234 • Tools: Recategorize
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...
Popularity: 234 • Tools: Recategorize
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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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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How do you know if your car has been stolen or repossessed?
EZ - call your finance company. If you are behind on your payments more than 60 days there is a good chance they got it. You can...
Popularity: 230 • Tools: Recategorize
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...
Popularity: 228 • Tools: Recategorize
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...
Popularity: 226 • Tools: Recategorize
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...
Popularity: 225 • Tools: Recategorize
Can a person voluntarily return a car to the bank to avoid repossession?
That is a repossession. Anytime the lender get's the car back instead of the money agreed to on the contract, it's a...
Popularity: 225 • Tools: Recategorize
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? The police only know when the tow...
Popularity: 223 • Tools: Recategorize
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...
Popularity: 223 • Tools: Recategorize
Can a lending company of a repossessed vehicle put a lien against a vehicle in another state?
although it is unlikely they would know about it (unless they called her and she told them) the only way to be completly safe is...
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What type of license do you need to start a repossession business in California?
I'm not in California but I'm guessing you will need at least, a business license, and a tow vehicle license for hauling...
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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...
Popularity: 219 • Tools: Recategorize
What are the repossession laws in Texas?
http://www.capitol.state.tx.us/statutes/statutes.html Business & Commerce Code self-help repo allowed NO breach of...
Popularity: 219 • Tools: Recategorize
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...
Popularity: 218 • Tools: Recategorize
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...
Popularity: 218 • Tools: Recategorize
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. In...
Popularity: 217 • Tools: Recategorize
Should you get a foreclosure loan?
Beware of this situation: You can't pay your mortgage and face foreclosure. A "lender" contacts you, offering help. First, the...
Popularity: 217 • Tools: Recategorize
Where can you obtain bonding and insurance for a repossession business?
You can also contact me! I represent an Industry driven Program that was designed to package all of the coverages that are...
Popularity: 216 • Tools: Recategorize
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...
Popularity: 216 • Tools: Recategorize
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...
Popularity: 215 • Tools: Recategorize
Can a charge off become a repossession?
yes - I am suprised they didn't force place insurance coverage on the car when they found out you had no insurance. I am also...
Popularity: 215 • Tools: Recategorize
If you are making some payments but not all can they still repossess your car?
If they are accepting payments - that will reflect negatively on them if they try to take you to court on a deficiency balance,...
Popularity: 214 • Tools: Recategorize
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...
Popularity: 213 • Tools: Recategorize
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...
Popularity: 211 • Tools: Recategorize
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...
Popularity: 210 • Tools: Recategorize
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...
Popularity: 210 • Tools: Recategorize
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...
Popularity: 209 • Tools: Recategorize
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...
Popularity: 209 • Tools: Recategorize
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...
Popularity: 208 • Tools: Recategorize
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...
Popularity: 208 • Tools: Recategorize
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...
Popularity: 208 • Tools: Recategorize
Where can you find the laws relating to repossessions and liens in Texas?
41.024 - Sale of Excess. An officer holding an execution sale of property of a judgment debtor whose homestead had been...
Popularity: 208 • Tools: Recategorize
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...
Popularity: 203 • Tools: Recategorize
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...
Popularity: 202 • Tools: Recategorize
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...
Popularity: 201 • Tools: Recategorize
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...
Popularity: 201 • Tools: Recategorize
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...
Popularity: 199 • Tools: Recategorize
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...
Popularity: 197 • Tools: Recategorize
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...
Popularity: 197 • Tools: Recategorize
In Texas can you return a used car the day after you bought it?
In Texas, you can return the car within a timely period. It does vary depending upon problems with the vehicle, but not just...
Popularity: 196 • Tools: Recategorize
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...
Popularity: 194 • Tools: Recategorize
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...
Popularity: 194 • Tools: Recategorize
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...
Popularity: 187 • Tools: Recategorize
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...
Popularity: 185 • Tools: Recategorize
How much money does the repo man get per car?
Well, it all depends on the agency and the going rates of your state. Unless a "repo man" owns his own company he is only...
Popularity: 183 • Tools: Recategorize
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...
Popularity: 183 • Tools: Recategorize
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. I suggest you file Chapter 13 if you...
Popularity: 182 • Tools: Recategorize
How do you get an impounded car back in Illinois?
well You see it all depends on what the car was Impounded for if its for a felony offense they can keep it if they want to if it...
Popularity: 171 • Tools: Recategorize
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...
Popularity: 165 • Tools: Recategorize
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...
Popularity: 164 • Tools: Recategorize
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 could have made a...
Popularity: 156 • Tools: Recategorize
What can a homeowner do to ensure that no liens are placed on their home for a repossessed vehicle?
The automotive manufacture has two options when repossessing a vehicle. They will either tell you to keep the vehicle and they...
Popularity: 155 • Tools: Recategorize
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?
The question is a little vague, however here's what I can say: IF, and it should have been, the repossession was first put on his...
Popularity: 152 • Tools: Recategorize
What are the repossession laws in North Carolina?
There should be some information on your paper work when you acquire of finance something. There is different contract...
Popularity: 151 • Tools: Recategorize
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:...
Popularity: 150 • Tools: Recategorize
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.
Popularity: 145 • Tools: Recategorize
How long does it take a creditor to garnish your wages?
The creditor first has to get permission from the courts to do so. It takes up to two years for the process. But it could take as...
Popularity: 144 • Tools: Recategorize
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...
Popularity: 137 • Tools: Recategorize
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...
Popularity: 134 • Tools: Recategorize
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.
Popularity: 127 • Tools: Recategorize
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...
Popularity: 120 • Tools: Recategorize
Is it against the law to hide your car from being repossessed?
yes In some states, yes it is specifically. In others, no. You are NOT hiding from the repoman, you are hiding from yourself....
Popularity: 120 • Tools: Recategorize
What are the repossession laws in Missouri?
http://www.moga.state.mo.us/STATUTES/STATUTES.HTM http://www.moga.state.mo.us/STATUTES/STATUTES.HTM#T22 Missouri...
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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...
Popularity: 116 • Tools: Recategorize
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...
Popularity: 114 • Tools: Recategorize
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
Popularity: 112 • Tools: Recategorize
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...
Popularity: 111 • Tools: Recategorize
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...
Popularity: 111 • Tools: Recategorize
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...
Popularity: 109 • Tools: Recategorize
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...
Popularity: 108 • Tools: Recategorize
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...
Popularity: 108 • Tools: Recategorize
What are Florida laws on hiding a vehicle that the repo people are trying to find?
You, like many others who are facing repossession may TRY to hide the vehicle. I stress the word "try" because of the industry...
Popularity: 108 • Tools: Recategorize
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...
Popularity: 106 • Tools: Recategorize
