In TN, if an "investagator" calls you and asks you to turn in car, even though the bank is still acceting money, or he tells you that he will call the law and report it stolen, can he realy do that? or is it just a scare tatic? Serious response please. Nice girl being bullied around!!!!! Thanks to all for advice
2007-01-23 15:00:40 · 20 answers · asked by cookiestn 1 in Politics & Government ➔ Law Enforcement & Police
If they called the police and reported it stolen - the police would kindly explain that it is a civil problem. They would explain that if someone failed to pay for the vehicle as per the contract then the bank should acquire the proper papers and repossess the vehicle as per the contract with the one failing to make the payments.
A stolen vehicle is one in which a suspect takes a vehicle without the permission of the owner with the intent to permanently deny the use of said property from the actual owner
2007-01-23 15:16:05 · answer #1 · answered by Anonymous · 0⤊ 0⤋
To be exact - you do not own the car, until you hold the title the auto is still owned by loan holder, they can not file the auto as stolen this is a civil contract, but they can though file the car under repose status and come and get it. At which point you will owe not only the car payments missed, tow charges, repo charges, and filing charges, if they decide to give the car back, you will also have this on your credit record for ten years. The best thing to do in this situation is to call the loan holder and find out what your rights and options are. Also no matter if the bank is excepting money for this car or not once it is in repo status you will still get the car repoed no matter what unless you call and make arrangements to pay said debt. If you are not willing to pay the debt in full then you should give the car back and stop payment intirely at this point.
2007-01-23 16:25:15 · answer #2 · answered by small1derme 1 · 0⤊ 0⤋
To be on the safe side just pay your bills. I'm unfamiliar with Tennessee law but general rule of thumb is that it will be repossessed by the bank (so they can turn around and sell it to get their money out of the investment) but you must generally recieve written notification of this prior. Otherwise, it is likely that they are simply harrassing you to get their money. Which is legal by the way.
If you don't want it towed away at night while you're sleeping park it in the garage, a 24-hour access controlled location or take the wheels off every night so they can't tow it. Otherwise find the money and pay it.
2007-01-23 15:06:14 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Threat designed to get you to bring in the car, not a legal tactic at least where I worked as a cop. This guy or gal gets paid by how many vehicles they recover, not by how ethical they are.
You do need to take care of your obligations though, it's gonna kill your credit and you might not be able to get another car when this one goes to the junkyard in the sky.
Where I was a cop, this would be called a false report, and the investigator gets charged with a misdemeanor offense.
2007-01-24 11:02:34 · answer #4 · answered by Lt. Dan reborn 5 · 0⤊ 0⤋
Not unless you hide it and refuse to turn it over for repossession.
They have the right to recover their losses. They can also hold you responsible for any costs or losses to them that weren't paid with the sale of your repossessed car. If they sell if to $1000 because it's a high mileage wreck and you owe $5000, you will still owe them $4000. They can also add the costs of repossession companies and however many attempts it took them to recover the vehicle. It's best to just let them have the thing and not keep accruing costs that you will pay in the long run. That's why you signed that thing called a "Contract".
2007-01-23 15:09:12 · answer #5 · answered by Dumb Dave 4 · 0⤊ 1⤋
No. Its still a debt and any threat to arrest you is a violation of Federal LAw (Federal Debt Collection Act) and most state laws. The most they can do is sue you and repo the car. Get a book at the library and read up on what they can and can't do. You can actually lodge a complaint against them with the FTC (federal trade commision) and sue THEM for damages.
The car isn't stolen. You paid for it legally. Hang up on them.
2007-01-23 15:16:14 · answer #6 · answered by Anonymous · 0⤊ 0⤋
in case you obtain the vehicle from a valid mortgage provider they couldn't document the vehicle stolen because the vehicle is registered to you and also you nonetheless have possession of the vehicle. each and each of the workplace artwork says you personal the vehicle. you've a bill of sale, you've the registration, the reassurance, the monetary settlement, it is all on your call. they could and could repossess it, yet they couldn't document it stolen.
2016-10-16 00:38:47 · answer #7 · answered by ? 4 · 0⤊ 0⤋
You should hurry and call your loan officer so you guys can work out a payment arrangement. Otherwise your car is going to be repossed whether you like it or not. If that happens don't fight them either because they bring cops with them to arrest you or whatever they have to do in order to get that car back. If you call them A.S.A.P. and try to work out a payment arrangement before they send the repo guy because that sucks.
2007-01-23 15:13:11 · answer #8 · answered by ? 5 · 0⤊ 1⤋
well they can't report it as stolen because you didn't really *steal* it but they can repossess the car. and if they do that, it would be stealing if you went to the lot or wherever they decide to keep it and took it back without paying whatever you owe
2007-01-23 15:56:22 · answer #9 · answered by jdphd 5 · 0⤊ 0⤋
That sounds like a threat which is illegal.
They can reposess it but You should call the police and report the incident and they will confirm things for you.
2007-01-23 15:48:44 · answer #10 · answered by Anonymous · 0⤊ 0⤋