I live in Florida. I am waiting for the money to come into my bank so I can pay what I owe for the car . The money will be here tomorrow but the bank said that they don't care that I can pay them tomorrow because they want to reposses tonight and if I hide it they will arrest me. Can they do that legally, even if I will give them their money tomorrow?
2006-08-07 14:45:47 · 12 answers · asked by rosykatrina 1 in Politics & Government ➔ Law & Ethics
I disagree with most of the above. You have a loan from the bank with the car as security on that loan. When you default on the loan, the bank has the right to reposess the car ON ITS OWN. If you do a good job of hiding the car, they will be forced to get a court judgment against you to get anything at all. You don't want this, of course. But it answers your question
The idea that you be arrested for this is nonsense. It's a contractual matter betwen you and the bank, not a criminal matter. Theft involves the transfer of possession. That hasn't happened here.
2006-08-07 16:55:25 · answer #1 · answered by Tony L 1 · 1⤊ 3⤋
Look at your contract. Usually they cannot go directly to repossession but can put a lean on the car. If the contract states that they can reposses under the circumstances given, then yes it is illegal for you to hide the car from them. This is because at the time of repossession, the car comes under the ownership of the bank. If you do hide it, then you will be arrested for the theft, plus probably pay civil damages for witholding/stealing a chattel, plus whatever you owe past the price of the car. Not really worth it.
2006-08-07 16:00:46 · answer #2 · answered by jhessick 2 · 0⤊ 0⤋
See, when you renege on payment of a car, and the bank wants it back, it is calling in the loan. Either you need to pay the balance of the loan, or they own the car. That is where the hiding the vehicle becomes messy. At the point you hide the vehicle from the bank, you have "stolen" their property. That is grand theft auto. Not a good thing to do.
They can have you arrested - they can't arrest you. Banks don't have the power to arrest you, but they can call the cops to report their vehicle stolen. And as far as I know, cops can arrest people.
It sounds to me like you haven't made good on your payment history for the loan. If you haven't worked with your bank in the times "of trouble", they tend to look badly upon you and don't want to work with you. I hope you get the money, and you can keep your car. But don't hide it - it will be more trouble than you would really like. And a felony is worse to deal with.
2006-08-07 15:28:07 · answer #3 · answered by volleyballchick (cowards block) 7 · 1⤊ 0⤋
Because you have knowledge they are going to repossess the car and you "hide it" - I believe they could potentially report it as stolen.
(A side note: I would have asked to speak to a supervisor - I think they truly would prefer the money than the car - sometimes people don't look at all the options and what someone else above them may decide as what is in the best interest of the bank - I would guess the money in any circumstance.) But if they do repossess the car you can always buy it back from them at their "sale" at probably a price less than your loan.
2006-08-07 14:59:16 · answer #4 · answered by D 4 · 0⤊ 0⤋
I believe banks can't arrest people for not paying. However they can send the police to seize your other assets. Also, if it is leased you can pay it all back and it will still be repossessed. They can get a warrant to go into your place and find the car. I heard that some people hide their car in other people's garages and they live with friends until they can pay it off.
2006-08-07 14:53:55 · answer #5 · answered by Mr B 2 · 0⤊ 0⤋
It's legal in Michigan. You broke the contract and the car legally belongs to them. You could be sitting on serious time for that. You should think twice about it. By the way, banks don't repossess for one payment that is overdue by one day. The courts will take that into consideration as well.
2006-08-07 15:16:14 · answer #6 · answered by swarr2001 5 · 0⤊ 0⤋
you will def get a minimum 12 month ban, above that there will be an exceptional. you have been quite plenty over the decrease and you had the keys so have been 'in fee' of the automobile the police have not any criminal accountability on your buddy being left as you have been deemed by ability of the police as being accountable of drink driving this seems alot of alcohol on your breath pondering you in basic terms had 2 beers and speedy drink of spirits, possibly you ought to/could desire to get a scientific examine as much as see if there is a few thing medically incorrect with the way you technique alcohol additionally Customs/Immigration can not promise to not end a man or woman so it is nicely worth following this up too
2016-11-04 02:33:32 · answer #7 · answered by ? 4 · 0⤊ 0⤋
Hiding assets in the process of a civil writ can be dealt with as a form of contempt or obstruction, particularly if this was deliberately done to avoid seizure. You may have to make an appearance in court to tell your creditors where you put your car. Your creditors cannot arrest you, but if there is a court order pending, this is where your problems will be.
2006-08-07 16:45:38 · answer #8 · answered by Angela B 4 · 0⤊ 0⤋
If your money will be here that soon, you will not be arrested. Hide the thing. If you were going to hide it for good, then they could have you arrested. But they have to go through the legal process before you can be arrested for anything. The repo man can not arrest you.
They would not have time to get an arrest warrant before tomorrow.
2006-08-07 14:53:58 · answer #9 · answered by lcmcpa 7 · 0⤊ 0⤋
Yes, it is then called stolen property and you can get a grand theft auto charge (nope, it's not just a game.)
2006-08-07 14:56:22 · answer #10 · answered by possumannie 1 · 1⤊ 0⤋