Asking reguarding kentucky law, I have had a vehicle repossessed that was only 35 days late and had about 27,000 dollars of personal property in it (tools, ect). Does the repossession company or the bank have the right to keep these?
2007-09-08 08:20:14 · 6 answers · asked by glynnpar29 1 in Business & Finance ➔ Personal Finance
That's for the court to decide and a lawyer.
Normally, no they do not have the right to the contents of the vechile since they are not a part of the vechile. This includes any tape decks or GPS devices that you added. Modificiatons made to the vechile (which can't be so easily pulled out) are part of the vechile and so belong to the vechile; however the value of the vechile should be adjusted for them.
Those tools are something entirely different and are probably directly related to your lively hood so are required by you. A payment missed by only 35 days sounds excessive, but it depends on the contract you signed and that is possible and it could be legal. However, the contract should not have stated that the contents of the car are part of a car.
In fact you can probably make a case for a counter suit based on the fact that however reprossessed the car should have known those tools were not part of the car and that they were in fact stolen and that would render the reprossession a case of theft. Especially if the value of the tools exceed the value of the vechile. Then you can file an arrest report and recover the vechile AND tools as stolen property.
You will need to talk with a lawyer on this one and find the original contract you signed for the car.
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2007-09-08 08:29:52 · answer #1 · answered by Dan S 7 · 1⤊ 0⤋
they won't be able to. "in spite of the technique used to postpone a repossessed automobile, a creditor won't save or sell any own property got here upon interior. In some states, your creditor could desire to provide help to be attentive to what own products have been modern on your automobile and undemanding undemanding techniques to retrieve them. Your creditor additionally could be required to apply clever care to avert all and sundry else from removing your private living house from the motor vehicle. if your creditor can’t account for articles left on your automobile, that's beneficial to communicate to an lawyer approximately your top to reimbursement."
2016-10-18 08:31:23 · answer #2 · answered by carlstrom 4 · 0⤊ 0⤋
They have neither the right nor the interest to keep your property that has nothing to do with them. You can get it back, and I'm sure $27,000 is well worth your time.
2007-09-08 09:09:31 · answer #3 · answered by Smartass 4 · 0⤊ 0⤋
No, they are only entitled to the vehicle, not any personal property.
the bank or the repo company should have a contact number where you can reclaim the missing personal property.
2007-09-08 08:45:52 · answer #4 · answered by rlloydevans 4 · 0⤊ 0⤋
NO! I got even the pennies back! for my son!
2007-09-08 08:23:39 · answer #5 · answered by helprhome 5 · 0⤊ 0⤋
no get your stuff dont wait to long though
2007-09-08 09:37:55 · answer #6 · answered by GMONEY 2 · 0⤊ 0⤋