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Can a finance company check references for a repo car?
Any information you give the lender or the lender obtains in the attempts to recover the vehicle by repossession is legal to use for that purpose.
Can you stop paying on a auto loan because your vehicle has mechanical problems?
The answer to that is no. They can still take the car if you don't make the payments or keep it insured. The best bet is to call the lender andlet them know you're going to be late on your payments. Lenders would rather use repossession as a last resort.
Can your car be under repossession after it has been charged off by the finance company?
Yes, a charge off does not mean that the debt is not owed nor collectible. The creditor/lender will generally use whatever means necessary to recover property and/or money owed, including repossession and litigation.
What can I do if my motorcycle is being repossessed?
You should contact the lender and try to work out a payment plan. Lenders will use repossession only as a last resort, so there is a good chance you can get something worked out.
Can the bank send someone to your house if you have not paid your car note and tell you that you could go to jail?
If you are delinquent on your car note, and the lender has ordered repossession of the car, a repossession agent may come to your home or place of work and demand you surrender the vehicle. If you refuse, or attempt to hide the vehicle, you could, in some states be held criminally liable. The lender could pursue criminal charges against you for hindering their efforts to recover their property. You see, when you contract to make payments on a car, you do not own it, the lender does. You are in essence paying to use the car until the loan is paid in full.
Can you be charged with Grand Theft Auto if you are late on payments?
Possibly - especially if you start hiding your vehicle from the lender or the repo-man in order to keep the lawful owner (the lender) from taking it back due to non-payment. If you are willfully and knowingly depriving the lender of his lawful property and converting it to your own use, it is the same as if you had stolen it.
What is the process of repossession?
Repossession is an option that some lenders use to help pay against a bad debt. The debt or loan must have been secured by property. That property will in most cases have a lien placed against it to prevent unlawful sale and fraud against the lender. When the vehicle is repossessed, it is sold at auction and the proceeds are applied to the debt to help offset it or pay a portion of it.
How does a criminal investigator use math?
they don't
What Loans Are The Best For You?
if you are considering buying a new car, don't forget that the auto loan is as important as the car, since this is what you will actually be paying for. It is generally a bad idea to accept a loan directly from the dealer. The dealer isn't actually the one providing the loan, it is coming from a secondary lender. This lender pays the dealer to use them as their lender, and charges you a higher interest rate. Convenience causes most people to accept this. Bank auto loans are a much better option. In reality, the lender provided by the dealership is generally a bank as well, but they are considered an indirect lender, rather than a direct lender. If you go directly to the bank for an auto loan, you will get a much better deal on your interest rate. You don't necessarily have to get bank auto loans by walking right into the bank, of course. There are several sites that you can visit which will provide you with a comparison of the bank auto loans to choose from. If you choose to check with the banks directly instead, be sure to call up or visit at least three banks in order to get an idea of what a fair deal is.
How do you use your car towing packages with your loan?
Generally, I can't think if any way that your towing coverage would have anything to do with you auto loan. If your vehicle was repossessed and charged your account for the cost of repossession your auto policies towing and labor coverage would not cover this cost.
How does a lender use a credit card?
A lender can use a credit card in various different ways. They lender can issue the credit card and make money from the interest. The lender can also take credit card payments from the borrower.
Which sort of bankruptcy should one use to retrieve a vehicle in Florida that was repossessed yesterday?
A vehicle is a secured debt, therefore bankruptcy action would not reverse the repossession. Bankruptcy only places a temporary halt to repossession or foreclosure of secured property. The only option available to the borrower to recover a repossessed vehicle is to reaffirm the lending agreement or make some other type of settlement with the lender.
