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Anonymous
You will receive notices that your payments have not been received, making your auto subject to repossession, but you will not receive a date and time of the repossession.
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The process for an FHA repossession of an auto involves the lender taking possession of the vehicle due to non-payment of the loan. This typically occurs after multiple missed payments and a formal notification to the borrower. The lender can then sell the vehicle to recover the outstanding debt.
The FHA does not have specific guidelines for auto repossession. Auto repossession is typically governed by state laws and the terms of the loan agreement between the borrower and the lender. It is important to review the terms of the loan agreement and consult with legal counsel if facing auto repossession.
The car company generally has to give you notice before going through with a repossession. Also, they should give you the opportunity to pay the outstanding bill before resorting to a repossession.
The company repossessing the car has no authority to negotiate terms with you. They are simply there to repossess the car. You must negotiate with your lender. Hopefully, you will do this before the the repossession order is submitted by the lender.
As far as I know there is no statute of limitation on auto repossession in any state. Check with your state Attorney General to be sure. I will post a link for you to read. Repossession should be your last resort. Hiding a vehicle from repossession is a crime in some states. The consequences of repossession are always bad for you.
Yes.
in the process of repossession?
Your wages can be garnished for an auto repossession if there is a court order. All wage garnishment's must be obtained from the county court of your residence.
yes,you may be catched by cops.
i = installment loan. 8 = repossession. i8 = repossession of an installment loan (like an auto loan).
new purchase not in repossession
Texas, Oregon, Washington and others.