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Can the lienholder repossess a car if it was only delevered to them to allow them to collect on the forced insurance they took out but you paid for by increased payments?
Wiki User
∙ 18y ago
YES, you were in DEFAULT by NOT having your own coverage. READ the contract. YOU agreed to maintain your OWN comp. coverage tonprotect the collateral. You didnt. This is a common misconception that lender placed ins. is the same as comprehensive coverage by the debtor. Yes but that was a lousy way to do it. Did you honestly expect the lender to let you ride around in the collateral with NO ins.?? If you are sooo broke that you cant afford the ins., you surely cant afford the ticket for NOT HAVING IT. Or can you? Read the question he was already paying for the increase!!!
Wiki User
∙ 18y ago
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Can a dealership repossess your car if they are not the lien holder?
No. The lienholder is the only entity with a right to repossess.
Can your car be repossessed from the towing lot that towes your wrecked vehicle?
If there's a lienholder on that vehicle, yes, that lienholder can repossess it.
Can you legally repossess your car with a lien on the title?
That is the only way you can repossess a vehicle. Repossession comes under the UCC which grants a lienholder the right to repossess but only if they have perfected their lien by filing it on the title. One caveate is in most states the lienholder can not repossess a vehicle that is under a mechanic's lien without first paying that lien.
When a bank repossess someones car?
As long as the bank is listed as the lienholder on the title and as long as you owe them money and haven't paid they can repossess the car.
Is there a time limit in which a car can be repossessed?
As long as there is a lien on the vehicle the lienholder has the right to repossess the property
Can a debt collector repo your car is they are not lienholder on title?
No. To be able to repossess any of your property, they must hold a lien on it. If they have no lien on it, they have no right to repossess. Their only option is to take you to court.
Is it legal to repossess a car in Michigan from a repair shop?
Yes. A lienholder is the lawful and sole owner of that vehicle, and it doesn't matter where they repossess it from, so long as they do it in accordance with state laws for repossession.
When can a bank repossess someones car?
When the owner defaults on the loan payments
Is a warrant or court needed to repossess a vehicle in the state of Tennessee?
No. The lienholder is the rightful owner of the vehicle, and can reclaim their property as needed.
Can a lienholder repossess a car if it is titled to another lienholder?
When there are multiple liens on a car, it is possible for either lien holder to repossess it. However, one lien holder is normally in the first position and the other one is in the second position. The one with his name on the title is normally the one in the first position and is the one who gets paid first when a car is repossessed, no matter who does the actual repossession.
Can title loan company repossess your car in another state?
Yes. The lienholder is the rightful, legal owner of the vehicle, and can take possession of that vehicle anywhere.
Can the state of North Carolina charge for personal property when they repossess your car?
The state doesn't repossess your car - private companies do that on behalf of the lienholder. They don't charge you for private property left in your car when they repossess it - that would be illegal. They charge a "storage fee" for the items they remove from your car. Underhanded, yes, but they can legally do it.
