when does the financial corp that is a lien holder on a vehicle can repo it with any notice to the owner?

Question

and is not for lack of insurance or lack of payments

Answer 1

I believe that the answer to your question is they can't unless you provided false information at the time you signed your contract. If you are up to date on your payments and you have full coverage insurance than you should be fine. However falsifying information on your contract application is grounds to reposess your vehicle.

Answer 2

If you made your payments on time they are not supposed to be able to repo your vehicle but if you were even one day late; it gives them the excuse to take back the auto.

Believe me; these scum bags know how to entrap people in their webs of deceit.

There are a lot of companies that "sell" vehicles to people for high rates and interest because the person could not get a loan. It is a scam because when you "buy" the car they are already starting the wheels turning on their intent to repo the vehicle and sell it again to some other unsuspecting person.

Go to the police and find out your rights and in regard to having them arrested and prosecuted.

I knew a guy who did this for a living. He was the worst sort of scummy person you can imagine.

Get an attorney. If you cannot afford one then go to a Legal Aid Society in your city or nearby town.

Answer 3

1. They need to notify the owner.
2. You can ask your local district attorney's office for advice because this is a civil matter.
3. Why not call the financial corporation, and talk to an officer of the corporation....complain, complain and complain again. They may listen to you.
4. If they don't listen, file a complaint with the State's Attorney General's office.
5. If they don't listen, file a complaint with the better business bureau, and any other agency that will listen.

We need you to follow through because they may be breaking the law, and you are protecting us by letting us know about people who don't treat you right as a customer.
Thanks!

Answer 4

It depends on the State that you live in. I have heard and know of cases where a Car was "repoed" at 3:00 am with a tow truck. That repo was because of "Failure to Pay".

Check with you State's Attorney General's Office or look on the Net under: Laws pertaining to repossession of automobiles in "Your State".

In my state the Laws favor the Banks and Insurance companies on repossession of Automobiles.