You must talk to the lender who has a lien on the vehicle. It is up to them if you will be allowed to take over the payments.
There are some creditors that offer car loans to those who' ve filed bankruptcy.
it doesn't matter if the pope takes over your vehicle payments. if he stops making them, your credit is damaged and the vehicle is repossessed.
No. You are not entitled to a refund if you made payments toward the purchase of a vehicle. In truth, if you signed a contract to purchase the vehicle, that vehicle is now secondary to the contract, you could still be held responsible for the balance of the loan, whether or not you still have the vehicle.
They might be able to garnish your payments for the money that you owe them , but nothing more since vehicle has been repossessed.
The automotive system is linked to your overall credit. It is easier to get a loan if you have good credit and your payments will generally be smaller. You can still get a vehicle with bad credit but it might be difficult getting a loan and the payments will be higher.
You have to posses the title on the vehicle and the documentation that there is a default in payments.
Can a vehicle be taken by the police for delinquent payments.
Obvious answer, Yes.
Registration of the vehicle has nothing to do with the loan or financing of the vehicle. The only was to "default" is to not make the payments.
Yes. Any amounts owing.
Yes, corporations can deduct lease payments. Property lease payments and vehicle lease payments are deductible in the year paid or accrued.
Well if the original person that you co-signed with defaults on the payments and you are stuck with the payments, technically it is your vehicle and you can take the person to court and take control of the vehicle.
Talk to the lender, or you can file Chapter 13 Bankruptcy to lower the payments where you can afford them.
Contact whomever holds the lien, they will allow you to make payments and take posession of said vehicle if signor has ceased to make payments. I have already contacted the lien holder and they advised me that they would not get involved with me taking possession of the vehicle. All they wanted from me were back payments. I brought the payments up to date. Now I want to get the vehicle in my possession. Unfortunately I have been unsuccessful at contacting the person I cosigned for. I've even heard that he may have moved out of Michigan. I have a copy of the Michigan registration showing myself as an owner. I am currently awaiting documentation from the state that I am on the title. What is my next step towards getting possession of the car?
Yes. The financial insitution will typically call you to set up a time to pick up the vehicle or have you drop it off if you do not intend to reaffirm the debt. They are not allowed to call you to ask for payment, but can ask for the vehicle. You can, however, continue to make voluntary payments on the vehicle and they will not repo it if you keep it current. If you do reaffirm the debt, that means that you intend to keep the vehicle and will continue to make payments on the vehicle, meaning that they are allowed to contact you about making payments.
The same one who set the payments when you got the loan, the LENDER.
Yes..... I did
miss a couple of car payments and you will find out!
Ones on which the owners are late on the payments. :-)
If you keep on missing payments on your auto loan, there is a high chance that the vehicle may be repossessed by the bank.
if a vehicle is unlawfully repossesed, you can get the vehicle back, and claim back all monies you have paid, and keep the vehicle without any further payments being made as long as you have proof you were up to date You are never relieved of the responsibility of paying for a vehicle or the lease agreement simply because the vehicle was wrongly repossessed. Leasing companies include many stipulations in contracts, if a payment was even a day late and there was not a grace period included the contract was in default and the vehicle was subject to recovery. The person does not have to accept the vehicle back, but they will in all probability be responsible for the remainder of the lease agreement. Unfortunately many of these type cases that end up in litigation which is expensive, stressful and time consuming for both parties.
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.
It is probably stated in your finance or lease agreement that if you don't make your payments on time that the finance company has the right to repossess the vehicle. Consider yourself informed. Long story short, if you don't want your vehicle repossessed you need to make your payments.