Home
Wiki Answers > Categories > Business and Finance > Personal Finance > Debt and Bankruptcy > Debt Collection > Repossession Questions
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 can you do if you notice major damage to the car when you get it back after repossession?
ANY claim about anything is subject to have to be proved. Sooo, get some sort of proof and contact the LENDER ASAP. Got any pics...
Popularity: 49 • Tools: Recategorize
Is it a repossession when the bank couldn't finance you and the dealer had to take car back?
GOOD question. Read the contract. Were you in default of it?? Why didnt you TAKE the car back? Why did they have to come get it?
Popularity: 49 • Tools: Recategorize
Is there a way to get a repossession off your record or at least show that you paid the money due to get the car back?
get it off your CR? not likely show that you got it back? if/when you pay it off, it will reflect that you got it back by...
Popularity: 49 • Tools: Recategorize
If you loaned someone money in 2000 with his automobile as collateral but now cannot locate him what can you do to find him?
You have options. You can hire someone to find and repo the car. You can do it yourself. Not enough facts to give a very dtailed...
Popularity: 49 • Tools: Recategorize
What are the repossession laws in Florida?
Start here http://licgweb.doacs.state.fl.us/
Popularity: 49 • Tools: Recategorize
Who pays the loan if a car is repossessed?
The one who BORROWED the money and/or the on who COSIGNED the loan.
Popularity: 49 • Tools: Recategorize
How do you find a good lawyer to answers questions about your car repossession?
The best way to find an attorney is to call your local Bar Association. They should be able to refer you to an attorney who can...
Popularity: 49 • Tools: Recategorize
How can you find out if your car is going to be repossessed?
call the LENDER and get it straight. If you are current, they need to CLOSE the acct. with the repo co.
Popularity: 48 • Tools: Recategorize
How do you pay back the loan company after your car has been repossessed?
nan, it depends on what you and the LENDER agree on. You agreed to pay them so much a month before and didnt manage to do it,...
Popularity: 48 • Tools: Recategorize
If you have a car that's too expensive for you to pay for can you turn it in for a cheaper car without paying any penalties?
NO, there will be a penalty in some form all the time for bad decisions. It could be higher interest rates, bigger down payments,...
Popularity: 48 • Tools: Recategorize
Is it true that if your car is repossessed while parked in your yard they have broken the law by coming onto private property?
No, they were not trespssing in order to commit a crime. They had a lawful reason to be on your property. sorri
Popularity: 48 • Tools: Recategorize
What should be in a repossession letter from a dealer?
Mel, that varies by state. (2) The notice shall be in writing and conspicuously state: the name, address and telephone number of...
Popularity: 48 • Tools: Recategorize
If you owe property tax and the state is not allowing you to register your car unless it is paid if you move to another state can you register the car there?
I wouldnt think NC will worry about CT taxes as long as NC gets their taxes. Call the NC DMV and ask what is required for...
Popularity: 48 • Tools: Recategorize
What do you do if you owe money on your car and want to have it repossessed but the loan company will not?
Maybe it doesnt meet the loan cos. repo specs?? (not running,wrecked,ect) Do you know where their office is? Is it lcal? If so,...
Popularity: 48 • Tools: Recategorize
Can a lender still place a lien on your real estate property if you have grant deeded over the home to someone else before they placed the judgement?
The lender can only place a lein on YOUR property.
Popularity: 48 • Tools: Recategorize
If a dealer gives you inhouse financing and later repossesses the car will it be reported on your credit?
That depends on the dealer. Some tote-a-note lots never even pull a CR, much less report to them. They know their customers have...
Popularity: 48 • Tools: Recategorize
When you get over a year behind in payments is there anything you can do?
Most lenders will freak out if you call, but, what the heck? Call 'em. FROM A PAY PHONE 75 miles away. Better yet, try to get...
Popularity: 48 • Tools: Recategorize
How long can a attorney keep on trying to get money on a repo car in Indiana?
credotomfocenter Oral Written Promissory Open IN 6 10 10 6 Typically, the court will try and contact...
Popularity: 48 • Tools: Recategorize
Can the owner take the car and resell it if you have the pink slip or can you get the car back?
Edward, this could get sticky. It depends on a lot of factors; what state you are in,did you sign a contract,are/were you in...
Popularity: 48 • Tools: Recategorize
After your car is repossessed can they tell you that you can't have your car back until you've paid the balance?
Cherie, its very likely that they can require you to pay off if you just refinanced the loan. READ your new contract in the parts...
Popularity: 48 • Tools: Recategorize
How long do you have to redeem your car if it is repossessed in Georgia by a title pawn co?
Likely its on your paperwork. In MS. its 3 days. Its in 14 pt letters in red here.
Popularity: 48 • Tools: Recategorize
Can a lender prevent you from retrieving your personal property after they repossess your car?
Not Legally, to do so would be called "CONVERSION". In some states, the repo company can charge you a FEE for inventory and...
Popularity: 48 • Tools: Recategorize
Where can you find financing to reclaim a repossessed car?
family, friends, crooks, loansharks? How good is your credit now? Call a few banks and find out. Do you have anything else to...
Popularity: 48 • Tools: Recategorize
Can a dealership take your car back after the contract is signed and you have bought insurance for it?
Well, if ya down payment didnt hold up, the contract is in DEFAULT. If ya get ya facts mixed up on the application, the contract...
Popularity: 48 • Tools: Recategorize
What happens to the deficiency of a repossession after chapter 7 bankruptcy is discharged?
IF you list it on the B/K. it goes away, you dont owe it anymore.
Popularity: 48 • Tools: Recategorize
What states do they put you in jail for hiding a car?
"hiding" or 'hindering" the recovery of property subject to a lien is against the law in all states.Some states, its a felony,...
Popularity: 48 • Tools: Recategorize
What are the Iowa laws on repossessing a car?
Iowa TITLE STATE: Yes SECURITY INTERESTS: Shown on title held by lien holder. LICENSE REGISTRATION: Iowa Office of Vehicle...
Popularity: 48 • Tools: Recategorize
If you have two car loans at one bank can the bank repossess both even though one loan is current?
YES, IF the loans contain a CROSS-COLLATERALIZATION clause. Were you in DEFAULT of any other conditions of the loans? INS.???
Popularity: 48 • Tools: Recategorize
What are the repossession laws in New York?
The code is cleverly hidden somewhere in this site. Good...
Popularity: 48 • Tools: Recategorize
If your truck was included in your bankruptcy but it was not reaffirmed however you continued paying on it but you don't want it anymore can you just take it to your creditor and leave it?
If you quit making payments your creditor will reprocess it, the same thing will happen if you just take back to them yourself....
Popularity: 48 • Tools: Recategorize
Can creditors garnish your wages in New York state?
Yes, a creditor or collector can sue for money owed. If they win the lawsuit they will be awarded a judgment which can be used...
Popularity: 48 • Tools: Recategorize
Do you have to pay for the balance owe on your car after it is sold at an auction?
WHOM do YOU think should pay?? The govt.?? Of course you have to pay the balance due after the vehicle is sold. That was the...
Popularity: 48 • Tools: Recategorize
What happens if you hide your car from repossession?
Technically, if you have not been paying the bill, the car does not belong to you any more and you are not ethically entitled to...
Popularity: 48 • Tools: Recategorize
Does a repossession agent need to be insured in the state of Connecticut?
Well you will never get any work if you are not insured, atleast do not hold out for ford triad or anybody else , you might get...
Popularity: 48 • Tools: Recategorize
Does a bank or finance company have to tell you how much your repossessed car was sold for?
Susan, what state are you in?? Who was the lender?? Laws vary by state. Email if you need too. Thanks
Popularity: 47 • Tools: Recategorize
If you file Chapter 13 and change your mind and your car is repossessed will the IRS take your taxes for the car?
NAKEI, I dont KNOW the answer but I dont see why they would. How would repoing your car give you any income for the IRS to tax??...
Popularity: 47 • Tools: Recategorize
What will happen to you and your credit when a company has to write off a car you put in your name because they can't find it to repossess?
It means YOU will be paying for a car someone else is driving. it means lenders and collection agencies will be calling YOU and...
Popularity: 47 • Tools: Recategorize
Do you have to bring your car back to the dealer for repossession or do they pick it up?
You DO NOT have to take it back, but it will save you some money if you do. They will come pick it up if you tell them to.
Popularity: 47 • Tools: Recategorize
Can you stop paying car insurance on a car with blown motor and continue to pay off loan to avoid voluntary repossession in New York?
If your loan agreement requires you to carry ins (most do) and you drop it, then you will be in default of the contract. You...
Popularity: 47 • Tools: Recategorize
If you pay what is needed to reinstate your car loan how long can they still hold your car in storage?
IF you pay current and the LENDER says to release the vehicle, any smart storage lot will get it out the same day. Who wants the...
Popularity: 47 • Tools: Recategorize
How do you collect a motorcycle that your friend never paid you for?
IF you have a loan agreement and/or a TITLE in your name, you know where it is, can find it, go get it.probably need a KEY also....
Popularity: 47 • Tools: Recategorize
How long after a vehicle repossession does the bank or car company have to sell the vehicle and is there a maximum time limit in Tennessee?
tennesseeanytime.org Look under UCC article 9 If I rem correctly, its "commercially reasonable". No time limit either way.
Popularity: 47 • Tools: Recategorize
What can you do to protect your rights in the event your vehicle was damaged during repossession?
Mark, you should be prepared to PROVE any recent damage to your vehicle. Scamming to repo comapny about 'damages" is old news....
Popularity: 47 • Tools: Recategorize
Can a state garnish your wages for a repossession if you now live in another state?
YES, states honor each others judgements. Same as suspending your DL cause you got a ticket in another state.
Popularity: 47 • Tools: Recategorize
If you have a car that is worth less than you owe can you sell it to a dealership and make payments on the rest?
Turn it in?? YES sale it to a dealership? YES, IF they pay it off. make payments on the rest?? Maybe, the way to do it is to...
Popularity: 47 • Tools: Recategorize
How long do you have to pay off the balance after your repossessed car is sold?
this sounds soooo simple. UNTIL you get it payed off or discharged by B/K. Lenders will sometimes accept a CASH offer, so keep...
Popularity: 47 • Tools: Recategorize
Is there a company that can help get your vehicle back when the lien holder does not want to give you the car back?
Yes, the companys are called "ATTORNEYS". But,getting your car back is subject to the contract you signed. Most contracts give...
Popularity: 47 • Tools: Recategorize
Can a repo company request a criminal warrant for a car that's 524 days in arrears if the owner will not return the car in the state of Georgia?
Mary, I have friends in the repo biz in GA that swear they can do all kinds of unlawful stuff in those little GA towns. And get...
Popularity: 47 • Tools: Recategorize
How many payments do you usually have to be behind before a financial institution decides to repossess?
60 days is usual for most lenders, however, it varies.
Popularity: 47 • Tools: Recategorize
How long after you file Chapter 7 bankruptcy in Georgia will they repossess your vehicle?
IF you filed it under your B/K, you can consider it repoed and leave it at your attorneys office. That way, you can go ahead with...
Popularity: 47 • Tools: Recategorize
Can a repo man or lienholder report a car as stolen if he can't locate it in Nevada?
Stolen?? NO. Report you for hiding the collateral??? Maybe. Cars havent fell off the face of the earth since CC found out it is...
Popularity: 47 • Tools: Recategorize
On a voluntary repossession of a car do you pay what is left on the loan or what the lienholder sells it for?
On ANY repo, you pay the balance due AFTER the car is sold. Payoff = 5K, car sells for 2k, fees = 1K, you owe 4K.
Popularity: 47 • Tools: Recategorize
What happens if you haven't paid the remaining balance after the repossession?
"remaining balance" as in what you are behind OR the remaining balance due on the loan??
Popularity: 47 • Tools: Recategorize
What physical vehicle restraint methods make it more difficult for the repo man?
Other than digging a hole and burying it, if a Repoman can get a clean shot at the car it's going to be gone. With the tools...
Popularity: 47 • Tools: Recategorize
How would you find out what is needed to start a repo business in Missouri?
how would i start a repo. business in arkansasAnswer Missouri 2002 Title State: License and Registration information refer to:...
Popularity: 47 • Tools: Recategorize
After filing Chapter 7 FMCC declares that in CA no reaffirmation agreements apply and are not accepted what do you do?
Soooo, what is your question? FMCC doesnt want to reaffirm your loan. Dont they have a choice? give them the car.Ask your b/k...
Popularity: 47 • Tools: Recategorize
Is it legal for the lender to sell your 5-year past due loan to a collection agency and then the agency repossess your car in Texas?
YES, your loan was in default. NOW. the lender will likely get a judgement against you if the car doesnt sell for enough to pay...
Popularity: 47 • Tools: Recategorize
Can they put lien on your home to satisfy the remainder of an RV loan?
YES, usually they garnishee your wages first.
Popularity: 47 • Tools: Recategorize
Can the bank hold onto a payment they received the day they repossessed the car and refused to reinstate the loan?
YES, they can and DO. Read your contract about the re-instating part. Was this your 2nd repo?
Popularity: 47 • Tools: Recategorize
If your car loan statement says the bank closed the account in 1999 can you have this repossession removed from your credit report?
Chances are good the bank sold the account to a collection agancy. Contact a local attorney for state specific info.
Popularity: 47 • Tools: Recategorize
What is the procedure to legally take a car due to non payment as the lien holder?
The answer varies by state.
Popularity: 47 • Tools: Recategorize
In the State of Texas can the lender garnish your wages on a repo for the deficiency that is still due after the auction?
YES, who spread that rumor? LOL Answer Texas is a no garnishment state. Therefore they cannot garnish your wages for any...
Popularity: 47 • Tools: Recategorize
How soon can they garnish your wages after a repossession?
That depends on several things. How gast the lenders attorneys are, how fast the court pushes cases thru,ect. Maybe a year?????
Popularity: 47 • Tools: Recategorize
If you have filed Chapter 7 bankruptcy and your car was not included in the at the time but now want to volutarily give it back what do you need to do?
Well, First of all, it would have been a lot easier to include it in the bankruptcy. You'll now have to do a "voluntary...
Popularity: 47 • Tools: Recategorize
Are there laws in California governing auto pawn brokers when they repossess cars that are used as collateral?
I am sure there are. Contact the California State Banking Department, they should be able to give you the exact info. you need.
Popularity: 47 • Tools: Recategorize
Can a leinholder repo a car and cause damage then returns it do to the fact it was a mistake?
Strange question. IF it was a mistake, then it wasnt a repo (ie: wrong car, not in default,ect) OTOH, the lender is responsible...
Popularity: 47 • Tools: Recategorize
Is there any way to file bankruptcy without a lawyer?
Yes - but you know what they say about a person who represents himself...he has a fool for a client. In all seriousness...you...
Popularity: 47 • Tools: Recategorize
What are repos?
Repo is short for repurchase agreement. Those who deal in government securities use repos as a form of overnight borrowing.
Popularity: 47 • Tools: Recategorize
Do you have the right to sell a car after repossession on a cosigned loan?
Yes, but only if you are the cosigner. When you cosign it is usually for these reasons: The person the loan is for is a...
Popularity: 47 • Tools: Recategorize
What are your rights if your vehicle was repossessed payed for within allotted time but sold by Auction also vehicle missing standard issue parts and extra miliage incurred?
Contact a local attorney for state/case specific advice. Please have all your paperwork and any proof of the "damages" when you...
Popularity: 46 • Tools: Recategorize
If you still owe for a car that was repossessed three years ago can they take your new vehicle that is fully paid for?
Depending on your state, the LENDER can get a JUDGEMENT and attach your "paid for" car(or anything else of value in your name) so...
Popularity: 46 • Tools: Recategorize
Can you convince the lender to give the car back and get back on the payment plan after repossession?
I cant, you might can IF you pay current. The lender wants their money, on time, blah blah blah. SOS different day, LOL Answer...
Popularity: 46 • Tools: Recategorize
If you do not pay the down payment to the dealership within the agreed upon 30 days can they repossess your car?
Mike, READ the contract you signed agreeing to do certain things in exchange for a car. What does it say about if you are in...
Popularity: 46 • Tools: Recategorize
Is a repossession agent allowed to take your car out of the garage?
As a rule, NO. There are a couple of ways it can be done, usually on older homes and not very often. Depends on the design of the...
Popularity: 46 • Tools: Recategorize
Does Ford Credit have to notify me if they plan to repo your car in Oregon?
NO, THEY DO NOT. You inform yourself by being in default of the contract. Get current ASAP. Oregon TITLE STATE: Yes SECURITY...
Popularity: 46 • Tools: Recategorize
If you know that someone is hiding their car from the repo man at your home who do you notify?
You need to know who the leinholder/lender is OR which repo company is looking for it. The VIN is used to trace the leinholder....
Popularity: 46 • Tools: Recategorize
What are the laws in Georgia on time frame before they sell at auction and can they do this if you pay following day of repo when notified of amount owed if was all bank error?
WHAT "was all bank error"?? IF the whole entire repo "was all bank error", then you need an attorney now. ASAP. The bank has...
Popularity: 46 • Tools: Recategorize
If your car is repossessed in North Carolina can they garnish your wages or otherwise force you to pay what is owed?
The following information came from the NC Dept. of Labor website. Wage garnishments are legal in North Carolina if a North...
Popularity: 46 • Tools: Recategorize
If you had a more expensive radio in your repossessed car and the stock radio is still there can you get your radio back?
IF the "new" radio is just lying in car, sure you can. IF the stock radio is just lying in the car, nope. You had however many...
Popularity: 46 • Tools: Recategorize
Can your lender place liens or judgments on your credit for the balance owed if you do a voluntary repo?
IF they follow the laws of your state, YES. A repo is a repo is a repo. they may also be able(and more likely if you have a...
Popularity: 46 • Tools: Recategorize
What is considered a 'Breach of Peace' in Michigan?
Type 'breach of peace + MI" in your browser search bar. Essentially, it's the same in all states: whatever a court hearing the...
Popularity: 46 • Tools: Recategorize
Can you repo a car on a military post without permission from the owner or anyone else in other words steal it?
NOPE, since 9-1-1, you cant even get on post to 'steal' IF you were dumb enough to try. Why should you? All you have to do is go...
Popularity: 46 • Tools: Recategorize
Is default on a lease a repossession?
Read your contract. It will tell you what default is. "Default" in leasing is when a Lessee fails to satisfy the conditions of...
Popularity: 46 • Tools: Recategorize
Can the owner of the 'Buy here pay here' car lot repo the car himself and store it at his own house?
Mike, Thats the way its usually done. You can store it anywhere you are comfortable with. Some debtors do think that if they can...
Popularity: 46 • Tools: Recategorize
How does a repo agent find someone who gives false information if you have the full name and Social Security number?
Email me your info and Ill try to help ya in the right direction.
Popularity: 46 • Tools: Recategorize
Do you have to notify the police after you repossess a vehicle in Arizona?
I don't know about AZ law, but it is a VERY GOOD IDEA to do so. I USUALLY DO IT AS I'M PULLING OUT OF THE YARD.
Popularity: 46 • Tools: Recategorize
If a person borrowed money from a friend to buy a car in the friend's name and he fails to pay how would the friend get the car back?
let me make sure i understand the deal. "A" borrows money.... never mind. The LEINHOLDER who repos the car will sell it and deal...
Popularity: 46 • Tools: Recategorize
In Texas what notice is the lender required to provide to the co-buyer before and after a car is repossessed?
same as provided the buyer...you're equal partners in the deal. When you co-sign for a laon, you assume certain responsibilities...
Popularity: 46 • Tools: Recategorize
How do you become a repo man in Indiana?
Go to your local courthouse and check the laws regarding licensing and operations of a repo company. Comply, buy the tow truck...
Popularity: 46 • Tools: Recategorize
If you buy a Cobra Slide-In Unit for your truck will you need anything else to repo cars?
Its not as easy as it seems. Is your truck gonna handle the work SAFELY? REPO insurance is sky high.
Popularity: 46 • Tools: Recategorize
Can the court take your income tax refund for money owed on a repo and do they base the payments on income amount or do they get it in large amounts?
They WANT it in as large of amounts as possible but they take what they can get. wage garnishemnt can only take 25% of your...
Popularity: 46 • Tools: Recategorize
If your car is repossessed are you required to pay all interest over the life of the loan or just what has elapsed on the loan?
lets say the total of the payments are $20000.00. And you have paid $10,000.00 on the loan. The car sells for $5000.00. That...
Popularity: 46 • Tools: Recategorize
How do you become a repossession agent in Michigan?
Click this link. Read it and thinks about it. Good Luck
Popularity: 46 • Tools: Recategorize
Can a bank repossess if you are making the agreed upon partial payments?
They can repo anytime you are in DEFAULT of the contract.
Popularity: 46 • Tools: Recategorize
Can you go bankrupt after voluntary surrender?
You CAN go B/K anytime you pay the fees, some times are better than others.
Popularity: 46 • Tools: Recategorize
Where can you find out if the car that was repossessed has been resold and how much was it sold for?
The LENDER keeps such records and will share them with you ultimately.
Popularity: 46 • Tools: Recategorize
Is there any point in redeeming a repossessed vehicle when it will end up on your credit anyway?
It depends on your finances.If you can continue to pay for the car and keep it insured yes keep on paying the loan.If the lender...
Popularity: 46 • Tools: Recategorize
What can you do if some of your possessions in the car are damaged during the repossession?
Laws on this will vary by state. Chances are this is a small claims matter and many courts provide free legal advisers on small...
Popularity: 46 • Tools: Recategorize
In a divorce what rights does one party have to repossess a vehicle?
Here are some reasons: If you are the one that has made all the payments and it's in your name then your mate has no right to...
Popularity: 46 • Tools: Recategorize
Bought car from dealership that took care of financing arrangements - All payments timely made old vehicle traded - Dealership now trying to repo says bank did not approve finance What remedy -AZ?
Tell the dealership to give you your old car back and any money you gave them then you will give them their car back.You might...
Popularity: 46 • Tools: Recategorize
