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In many cases yes. If you purchased the vehicle through a business, read the sales contract for wording about defaults.
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∙ 11y ago
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Can a lender make you pay the balance owed on the car if you voluntary give it back?
It would depend on the contract you had
In Wisconsin how do you get a reposed car back?
If the car has been auctioned off after you got notice of the auction and how much you needed to pay to get it back, you can't get it back. If you are lucky, you may be able to get some of your personal property from the car back. If it has not been auctioned, you can pay the amount owed or file bankruptcy.
How do you pay back money owed to IDES?
with your soul
Do you have to pay the balance owed after self repossession?
You pay what is owed after the creditor sells the car for. So if you owed 10,000 and the creditor sells it for 8000 at an auction, then you would owe the remaining balance.
My car was sold for less than is owed. So long as I pay off the balance I should get my car back?
The way your question is worded it sounds like your car was repossessed and then was sold for less than you owed on it. That's pretty typical. If I DID understand your question correctly, no - you will NOT get your car back if you pay off the balance. My guess is that you did not fulfill the terms of your contract with the finance company and they wanted THEIR money - so they sold THEIR car for what they could get (typically at an auction) which is almost always less than is owed on it. So if you pay the balance on the loan, you will not get the car back (because the person who bought it owns it now)- but you will have paid what you promised to pay and learned a valuable lesson in the process. Try not to take this class twice. The tuition just keeps going up.
Can you give me sample letter to claim my back pay?
When claiming back pay, you will want your letter to include why you feel this money is owed to you. You will want to also include the hours you are owed for and at what rate.
Does a parent still have to pay back pay if child moves out?
Yes, If it is back child support than it is already owed. Sorry.
If a man signs over his rights to a child that is his Will he still have to pay child support in the state of Missouri?
he will have to pay back child support if owed unless mother agrees not to or he will have to pay back support if owed to state like if mother was on state aid,but no he will not have to pay for future support
What can you do if your car was repossessed and you just got a part time job after months without one and you have 10 days to pay the 8600 owed?
If $8600.00 is what it takes to get your car back and you dont have it, GO FIND ANOTHER CAR. Not much else to do.
What happens when returning a car to a financial institution and the car is of less value then the loan amount owed on the vehicle?
The lender will expect you to pay the deficiency which is the difference between the amount owed on the loan and the amount they get for selling the car.
If a car is in your deceased mother's name and you don't want the car and plan to return it to the dealer will you have to pay what is still owed?
you or her estate???
Is it legal for the car to be repossessed and still require payments to be made?
Generally, if the car was sold for less than the amount owed on the loan the lender may demand that you pay the remaining balance owed.
