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The bank takes it for non-payment of your loan. They send a mean man with a tow truck to take it from your driveway in the middle of the night. It's not considered stealing unless the tow truck driver does not notify the police that they picked it up.
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∙ 13y ago
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If you are a cosigner on a vehicle and the other person gets the vehicle repossessed then files for bancruptcy what happens to the cosigner?
you are still liable for that loan. the lender may decide to not accept the bankruptcy charge and go after you for the money.
What happens if a car has dents and is repossessed?
It gets placed in the junkyard. In order to get the vehicle back you must you pay your bill, as well as pay your local junkyard company to get your car back.
What happens when a vehicle is purchased outright from a private seller and the title has a third party lien and the vehicle gets repossessed?
VICTIM buyer has to pay off the leinholder to get car. And/or sue con seller. Leinholder WILL get their money. GOOD LUCK...
What happens to your license plate after your car gets repossessed in South Carolina?
The person(s) whose name(s) appear on the title of the vehicle should remove the license plate(s) before the vehicle is impounded by the repossession agent.
What bad things go on your credit history if a vehicle is repossessed?
Slow pay, repo, and it gets worse from there.
What happens when you cannot locate a vehicle that is to be repossessed?
If there is evidence of fraud, the person hiding the vehicle can be prosecuted and possibly even put in prison.
What happens if you are in chapter 13 and your car gets repossessed?
If neither the lender or the repossession company is notified that you have filed, and they proceed in good faith, your car can be repossessed. If either knowingly violated the stay, you may be able to redeem the vehicle, and the bankruptcy court may fine the agencies who acted in violation.
Can a disabled person's vehicle be repossessed in Florida?
A disabled person's vehicle can be repossessed just as any other person's vehicle can be repossessed. You must make all payments on your vehicle if you want to keep it.
What happens when lease cannot be paid back?
The vehicle will be repossessed and the leasor will be held responsible for the unpaid balance of the lease.
In Florida if your divorce decree states that each party gets a vehicle but one party allows a vehicle to be repossessed how does the other party get their name taken off the loan?
you don't. you get the vehicle and the payments.
What is the average time limit of non-payment of a vehicle before it gets repossessed?
Depends on the company. Average 2-6 months.
Can your vehicle be repossessed if you are awaiting to be paid by the federal government?
It depends on you locatily, but in general, yes, if you are behind on your payment, your vehicle can be repossessed.
