Yes it can and will effect your credit
Goes on your credit as a repossession.
The car isn't damaged, the debtor's credit rating is. There is no permanent record of the car as a repossessed vehicle like there is for a salvaged title.
The short answer is yes, if you want to keep the car. Otherwise the loan will go into default and it will be repossessed. If you did not sign for the loan, it will not affect your credit.
contact the lending institution and offer to make partial payment in exchange for the title.
no
no
Yes, your car can be repossessed if the title loan is in collections. Actually, this is one of the most common ways for a defaulted title loan to be settled.
IF the lender reports it to the CRA, it will. FWIW, title pawn lenders USUALLY dont report it. Too much work and paperwwork for them. LOL
Is his name on the title also?
The title is only released when the debt or loan is paid in full. If you want the lender to pick up the car, I'm guessing that you can't or don't want to make the payments. The lender can refuse to pick up the car, but, if the debt remains unpaid, they will probably have the car repossessed which will negatively affect your credit rating.
NO, the truck probably has been sold already and the lender got a repossessed title to sell it with. Of course they do make mistakes. LOL
hi