0
How long does the lender have to send you a letter after repossession?
Wiki User
∙ 6y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
How many stamps does it take to send a letter from UT to CT?
One, as long as it is a 44 cent stamp.
How do you send Bill Gates a letter?
You look everywhere for his address and send him a letter.
How many stamps do you need to send a letter to Texas from Oregon?
You can send a letter from Texas to Oregon with one stamp.
Can you send a letter with out a stamp?
yes
Who to send a Business Letter?
You should send a business letter to your boss or an associate that you work with. Business letters should be formal and polite.
What is the legal course that must be followed by a lender repossessing a car?
After repossession the lender must send a letter telling you where the car is how much is owed on the car and where it can\d be redeemed. This letter must be sent within 5 day after the repo
Can you collect a repossession fee if you do not send a pre repossession letter in Maryland?
In Maryland, a repossession fee cannot be collected if a pre repossession letter was not sent to the debtor. The letter is a legal requirement that must be provided before repossession can occur, and failure to send it could invalidate the repossession.
Can a car dealer sue you without having sent a certified letter stating the amount due for a balance after you have returned the broken down vehicle to the dealer and stopped payments?
It depends on the repossession laws of the state where the car was purchased. In some states the lender is required to send the borrower a notice of "cure and remand" before repossession can occur but not before a lawsuit can be initiated. Generally a lender will send such a letter in the hopes of avoiding litigation which is time consuming and often expensive for everyone involved.
How do you find the repossession balance due after the lender has resold the car without contacting the lendor?
There will be a long waiting period for the bank to send you a notice. You can call the bank for faster answers. There will be a long waiting period for the bank to send you a notice. You can call the bank for faster answers.
When can a lender repossess your car?
Each lender will have different time periods they will allow before they send out an order for repossession, and their terms will usually be stated in the contract which you signed for your automobile loan. Technically, they could send out an order for repossession the moment you're declared delinquent on a payment, but most will usually wait at least a month before they take this course of action.
In Texas how many months before repossession?
No months. It will be more like weeks or days. In practice, you can be one day past due and the lender can send your vehicle for repossession. It might be months before the actual repossession happens; it will depend on how difficult it is for the agency to secure it.
How long does a repossession agency have to hold your personal property after repossession?
A repo agency should follow it's state requirements. Most respected places will try to call or send a letter to a good number or address with this information.
Is a lender in Missouri required to send the borrower a Notice of Right to Cure before repossession action?
No, Missouri has no laws that require the creditor to notify the debtor that a vehicle is subject to repossession.The lender can have the vehicle repossessed without notice as long as the repossession does not commit a breach of peace as defined by the laws in the jurisdiction where the vehicle is seized.ADDED: While the above answer may have been correct at the time it was written - it is no longer applicable.Quote: "As per the UCC, repossession is allowed and permitted as long as it is peaceful, after a Twenty Day Right To Cure Letter from lienholder to debtor. One time cure law in effect in Missouri; all others per contractual agreement." unquoteSee below link:
Does Virginia require a right to cure notice before a car an be repossessed?
Yes, in Virginia, the lender is required to provide a right to cure notice before repossessing a vehicle. This notice must inform the borrower of the opportunity to cure the default by making payment. If the borrower does not cure the default within the specified timeframe, the lender can proceed with repossession.
Should you send a 10-day demand letter after repossession and if so where can a sample letter be found?
Ga UCC Sec 9
How long after a Chapter 7 discharge does a creditor have to take back a car that you did not reaffirm?
There's no rule. It may not be worth it for the lender to repo or take the vehicle. To be safe, you may want to send the lender a letter, certified return receipt, giving a time, date and place to pick the vehicle up. If the lender does not, be sure to keep the letter and green card to prove the lender abandoned it. Then you will want to get the title. You may have to sue the lender for it.
How late on payments do you have to be before your car can be repoed in Kentucky?
One day. Typically it takes the lender a week or more, usually a month before they send out the order of repossession. If you are trying to figure out the float on how long it is safe to be delinquent, don't bother. Once you have gone into repossession, the lender can still have your vehicle picked up, even if you pay current. You breached a contract, the penalty of that is the surrender of the secured property, the car. Do what you have to to pay the note, or be honorable and surrender the vehicle.
