Bank repo on a car PLEASE HELP!

Options
I have a car on lien and the bank sent out a repo guy. I won't let him take the car until the lien is paid. This is my first time for this. How do I handle this???
Tagged:

Answers

  • ESS
    ESS Registered User, Daily Operations Certified, Advanced Operations Certified, Administrator Certified, myHub Certified ✭✭✭✭✭
    Options
    I know in Texas, our lien supersedes any other lien. If they want their property back, they have to pay the balance owed. You also have to get copies of all of their paperwork and verify the lien is valid. 
  • MamaDuke7
    MamaDuke7 Registered User, Daily Operations Certified, Advanced Operations Certified, Administrator Certified, myHub Certified ✭✭✭✭✭
    Options
    ESS said:
    I know in Texas, our lien supersedes any other lien. If they want their property back, they have to pay the balance owed. You also have to get copies of all of their paperwork and verify the lien is valid. 
    Same here.  If they want the car, they have to pay the past due balance first.
  • teamcapitola
    teamcapitola Registered User, Daily Operations Certified, Advanced Operations Certified, Administrator Certified, myHub Certified ✭✭✭✭✭
    Options
    Just curious (we don't have vehicle storage) if the car was not in Lien, would you allow the repo person access to take the car? Or do they just have the right to come on property and take it?

    What responsibility (if any) would you have to the tenant in regard to something like this?
  • themage
    themage Registered User, Daily Operations Certified, Advanced Operations Certified, Administrator Certified, myHub Certified ✭✭✭✭✭
    Options
    It is going to depend on where you are. Here, the bank / financer's lien supersedes ours. 
    They are not allowed to enter the property unless they rented the space or they have a court order, or they have cleared it with management (having proved ownership, for example).

    All we can do if a tenant abandons the vehicle but a bank still holds an interest is to ask the bank if they want to repossess it. If they do, the balance goes to collections and we make an appointment with the bank to come and get it.

© 2018 SiteLink Software, LLC. All Rights Reserved

Terms of Use  |  Privacy Policy   |  Cookies Policy   |  Help  |  Contact Community Manager   |  Change Marketplace Ads