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Can a lender change the amount they agreed that you owed on a repossessed vehicle the next day and be verbally abusive?
Wiki User
∙ 8y ago
I guess the lender could make a mistake on the amount and have to correct themelves. Verbally abuse you?? NOT. Call a local attorney for state specific advise.
Wiki User
∙ 8y ago
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If a motorcycle is titled in your name but someone else has verbally agreed to pay for it and has possession of it can it be repossessed in Ohio?
Well, someone had the nerve to get a repo title on the bike, but doesnt have the nerve to go get the bike. Am I reading this right? YES bikes can be repossessed in Ohio. One just has to know the laws and how-tos of getting the bike out of the garage. onlinedocs Of course you can repo it as long as they are not upto date on there payments.could we be talking about Tim?
What does mean sales agreed?
it means: sale agreed subject to contract - as in the sale of a property where the sale has been verbally agreed and simply awaits the formal signing and exchange of the legal contracts
What does sale agreed stc mean?
it means: sale agreed subject to contract - as in the sale of a property where the sale has been verbally agreed and simply awaits the formal signing and exchange of the legal contracts
If you have made a payment arrangment can your car be repossessed?
Only if you have failed to make the agreed payments on time.
Can your car be repoed if you are not behind on payments?
Technically yes - the vehicle can be repossessed if you are 'in default' of your obligations under the contract. So while the usual way to default on the contract is by missing payments, it is possible for you to be in default by another way, outlined in the contract you agreed to.
Can you repossess a car which you sold to a friend with a written contract stating that if payments are not made as agreed car will be repossessed?
YES.
What is difference between contract and commitment?
A contract is usually something that is signed and dated and legally binding. A commitment is just something that you have verbally agreed to do.
What is verbal agreement?
An verbal agreement is something two or more parties have agreed to do, agreed not to do or an arrangement made verbally and not in writing. In some jurisdictions a verbal agreement can be binding if there are truthworthy witesses to it, in other jurisdictions it may not be binding.
Do most finance company allow you to pay the late payments and then continue with the agreed contract if the vehile was repossessed?
If your vehicle has been repossesed then your best option is to no longer make payments until this vehicle has been resold; which takes place through an auction. Once vehicle is sold you will receive a final bill for the remaining amount that was left over. The final stage of this process is to settle for 30% or less on the remaining balance.
What if you stop making payments on the vehicle?
It will likely be repossessed and sold at auction, if not redeemed, with the proceeds being applied against the amount owed and subsequest repossession, collections, and legal fees. Keep in mind that you signed a contract. That contract is legally binding, and in most cases, you agreed to suspend many of your rights to property.
If your car is repossessed can they take your house if you do not pay?
NO, they can "attach" the house so that IF you ever sell it, they will be paid FIRST out of the sale proceeds. READ your contract to see what you agreed to when you borrowed the money.
When I bought a car for my kid we verbally agreed he would pay monthly he has not I am lien holder on title what are options now?
voluntary repo or sell the car to someone else who will actually pay.
