If a person's car gets repoed, the bank can report it on their CR in any state. When they redeem it doesnt matter, its the fact that it got repoed that gets reported.
The laptop will be repossessed and the amount you owe will be increased by late fees, costs and penalties. The default will be reported to your credit record where it will do considerable damage.The laptop will be repossessed and the amount you owe will be increased by late fees, costs and penalties. The default will be reported to your credit record where it will do considerable damage.The laptop will be repossessed and the amount you owe will be increased by late fees, costs and penalties. The default will be reported to your credit record where it will do considerable damage.The laptop will be repossessed and the amount you owe will be increased by late fees, costs and penalties. The default will be reported to your credit record where it will do considerable damage.
Im going through the same situation. The credit company called me and said I owed a certain amount in order to get this off my credit. The problem I have is I dont have the pink slip and they think they repossessed my car when acctually I still have it.
This would be best answered by a good bankruptcy attorney who knows Arizona law. I believe no matter what you do bankruptcy or not, they will get the car, it does not wipe your credit clean.
No, because you have your own separate credit report.
Normally your credit is ruined for 7 years.
yes
A motorcycle that was paid for on a credit card can not be repossessed considering the credit card company paid the dealer. You must pay the card company back though or they can take you to court.
Repossession of any chattel (boats, cars, anything) will adversely affect your credit, so you may not be able to establish new credit for a few years. If you promised to pay for something, and you didn't, the general answer is that the agrieved party (lender in your case) can sue to recover the amount you owe, less the amount they recover by selling the repossessed property, plus interest, fees, attorneys fees and court costs.
It has the same effect on the credit.
The lilelihood is very good, almost certain, you will have a balance due after the sale. The only way they could get the full amount due is IF you had made a HUGE downpayment. You will have a repo and a judgment on your CR IF you don't pay any deficiency balance.
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Yes, you still own the debt.