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If your car is repossesed what happens?
they take the car and sell it at an auction then send you a bill for the difference between what they sold the car for and how much you still owed on it.
When is a car repossesed?
When the person misses too many payments.
Can you drive a repossesed car?
Might be hard with the tow truck attached
Can they do Repossession on your locked property?
can my car be repossesed from my locked back yard
How do you know if you car is going to be repossesed?
The best indicator is that you still owe on the car, and you have stopped making payments.
What will happen if you are late with car payments?
If you are late, depending on who you owe, you can get taken to a collection agency, charged fines and/or have your car repossesed. I actually know two people who couldn't do the payments, it may have been for a couple of months, and their cars were repossesed.
Can a car be reported stolen for non-payment?
Only if someone stole it from the owner. Otherwise the car is just repossesed by the finance company.
Can your car be repossesed with interlock?
Yes. Repossessors have been dealing with these things for a long time, and they know how to deal with them.
What happens after after a car is repossesed?
Your credit is shot to hell, you have no car, and you probably have to pay the remaining balance of whatever you owe minus the value of the car they took back.
What nine states can reposses your car?
As far as I know all states cars can be repossesed with the correct legal paperwork.
Can jewelery be repossesed?
jewelry can only be repossesed if it was used as collateral to back up a purchase or if it is being rented, leased, or financed by a banking institution. if it solely owned by you and already paid for in full, it will not be repossesed. In most cases, cars are most frequently repossesed, (because payments on the car loan or lease were not paid on time) and in some cases homes (mortgage payments late, missed, etc.) basically, make your payments, and make them on time regardless of the item.
Can a repossession still be reported to your credit if the company has since sold the car?
Yes, because reguardless of what the company did after they took back the car, the fact still remains that it was repossesed.
