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Can the loaner take your house if you are not paying the balance of the loan in North Carolina?
Wiki User
∙ 8y ago
the link to NC statutes is at the bottom. W/O actually looking it up, Ill say NO, they can put a LEIN against the home and when it does sell, they get paid first. Ask a local attorney for an opinion.
TITLE STATE: Yes SECURITY INTERESTS: Shown on title held by lien holder. LICENSE REGISTRATION: North Carolina Division of Motor Vehicles, Vehicles Registration, 1100 New Bern Avenue, Raleigh, North Carolina, 27696. Tel.:(919)733-3025. RECOVERY REQUIREMENT: As per UCC, repossession allowed without committing a breach of the peace. DOCUMENTS REQUIRED FOR LIQUIDATION: Title and Repossession Affidavit, Out of State Repossession titles and affidavits are accepted. PLATES: Remain with the debtor.
http://www.ncleg.net/gascripts/Statutes/StatutesTOC.pl
Wiki User
∙ 8y ago
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Can a lender garnish wages after repossession in North Carolina?
Yes a lender can garnish your wages after a repossession. If the resell value of the item does not cover the cost needed to repay the lender, you are still responsible for paying the balance.
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The College Foundation of North Carolina is a great place to start (http://www.cfnc.org/paying/schol/info_schol.jsp).
In North Carolina can they sue or put a lien on your business for the remaining balance of a car repo?
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