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Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 33716
Experience:  15 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
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In Colorado how much do you have to pay the lien holder once

Customer Question

in Colorado how much do you have to pay the lien holder once your car is repossessed
JA: I'm not sure of the exact price, but there's only a $5 deposit. The rest of the price information will be on the page I send you to.
Customer: How much does this cost me for your advice?
JA: I'm not sure of the exact price, but there's only a $5 deposit. The rest of the price information will be on the page I send you to.
Customer: my email address is***@******.***
JA: Has anything been filed or reported?
Customer: not yet, i can not make the monthly payments on the vehicle any more due to I changed jobs and do not make the sAME AMOUNT OF MONEY PER MONTH.
JA: Because employment law varies from place to place, can you tell me what state this is in?
Customer: Colorado
JA: Anything else you want the lawyer to know before I connect you?
Customer: yes, how much does this cost for this lawyer's advice.
JA: I'm not sure of the exact price, but there's only a $5 deposit. The rest of the price information will be on the page I send you to.
Customer: where do I go on your website to pay this $5.00 deposit?
Submitted: 1 month ago.
Category: Legal
Expert:  Barrister replied 1 month ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question.

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You aren't going to like this, but if the car is repossessed due to nonpayment, then the lender can require full payment of the entire car loan in order for you to get the car back. That means that you wouldn't be able to get it back just by making up the late payments and fees unless the lender agreed to let you do so.

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So that means that you would have to get refinanced somewhere else quickly to get the money to pay it off if they wouldn't agree to allow you to just make up the delinquent payments and fees for the repo .Colorado repossession laws dictate that a lender must mail all borrowers of a repossessed vehicle a notice stating that you have the right to retrieve (redeem) your car or truck once you have satisfied all of the outstanding issues related to the vehicle repossession.

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I am very sorry that I don’t have better news, but please understand that I do have an ethical and professional obligation to provide customers with legally correct answers based on my knowledge and experience, even when I know the answer doesn’t make the customer happy...

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thanks

Barrister

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