Vehicle Collection Can A Collection Agency Repossess Your Vehicle?
Can a collection agency repossess your vehicle? - vehicle collection
Only if the vehicle is the security of the account, they are trying to collect.
Additional details.
Batch is simply an extinct accounting term which means that the original creditor, the loan is written as noncollectable.
This does not mean that he still owes money.
Then he sold the collection company that currently recovering the loan and is entitled to the car if not paying.
The really bad thing is that your original lender will be to 1099 for the balance, which had sold them the loan of what is poetry, and you have to explain it sent it as income on their taxes.
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3 comments:
Yes
His company sells your loan. Now the collection agency and oh yes, they have every right to be under warranty.
But what is unusual is that I never met a creditor (the agency or the bank that the money is for a car or a house) to sell debt rather than exclude, or repeat. Are you sure your car is under warranty? Is not the title or the lender? If the creditor, collection agency now has his title, it can REPRISE your car.
It depends on whether that's what the loan is in arrears in their payments and then yes to them. It is best to call and work something because I really want to have a car. They want money. If you owe the debt to another person and his car is to pay so I can complain and ask the court to settle the debt. Here, too, do not want the car ... But when the car is paid for and wanted to settle the debt and if someone else is also reflected in the title, and in some states that do not take the outstanding debt. All states have a website, its statues, which you do not have to consult with legal government
Yes, if you default on the loan, the lender may change the original account to a collection agency. He can take back the vehicle.
If they do, the vehicle will be sold at auction for bargain prices and buy after the compensation on the amount of bids and.
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