Personal loans can be used for any purpose.
Either insurance or the estate. Some lending institutions provide "credit life insurance" which pays off the loan. If that is not part of the loan, the estate will be required to sell assets to cover the loan.
The LENDER put the repo on there so they will be the one to take it off. NEGOTIATE.
A sudden debt pay off is when someone pays back a loan quickly.
It doesn't hurt your credit to pay off a loan early.
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A credit consolidation service takes the different accounts such as credit cards where you have outstanding balances, pays them off, and provides you with a lower interest rate on a single loan. It is helpful if you have gotten over your head in debt.
The defaulted debt will become a negative entry on the primary borrower's credit history and will remain for the required 7 years.
If you get a loan, pay off credit cards and keep the loan payments current until it is paid off. Your CR will be pretty darn good.
If you co-signed a car loan you can't take your name off the loan. If you co-sign for someone with no credit or poor credit you are promising to pay off the loan if they don't. The only way to get your name off the loan is to pay it off or have the borrower refinance the loan in their own name.
If a loan from a credit union has been discharged in bankruptcy court, that credit union cannot collect and must write the loan off.
There are no penalties for prepaying a bad credit auto loan. It is beneficial to pay off the loan sooner or on time.
The cosigner of the loan owns 1/2 of the property if they are on the title.