What is the guidance for timing of booking a repo vehicle to other assets? Does it have to be at the time the car was taken back? Is it okay to keep as a loan for a few weeks if the car will be sold in that time period?
Does a bank have any repossession rights against a debtor if the debtor has never provided the titles to the vehicle and now the loan is in default? If no, which I assume, what options are available to claim our collateral?
Can collection calls be made on past due credit card accounts that are currently protected under the SCRA act?
I'm a little confused about Subprime lending. Does this apply to all loans or just real estate? Also, do we need to flag our loans for the new call report requirement?
Once a vehicle securing a delinquent loan is repossessed, how long legally do the personal contents have to be held before they can be disposed? Our repossession letter allows the customer ninety days to pay off the loan before it is sold. However, the letter does not mention personal contents.