0
What is the worst thing that can happen to you if your car from Missouri was voluntarily repossessed?
Wiki User
∙ 15y ago
Your credit may still be attached negatively unless you have a written agreement stating otherwise. You may also still be held responsible for the balance owed for the vehicle. Check your local Attorney General Office, Consumer Affairs Dept for case specific details. They may be able to come to a better solution.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
If you must voluntarily have your car repossessed due to an upside down loan what effects will this have on trying to get a home loan in two years?
Carly, it can affect what interest rate you pay(HIGHER THAN NORMAL), how much you have to pay down to even get a loan. It is NOT a positive thing to have on your CR.
Can you go to jail if you do not pay the debt against a voluntarily repossessed vehicle?
The only thing that can happen is that they sue you. The key is to stop promising payment. If you make any sort of deal to pay it restarts the clock on the 7 year timeframe. After 7 years, it should be removed from your credit report. You may not be able to purchase a car or really anything for a very long time. * No, the issue is one of a civil nature not a criminal one.
Where can repossessed cars be bought?
Repossessed cars may be purchased from many car dealerships some specialize in repossessed vehicles and others may have the occasional defaulted payment. Another great place to find repossessed cars is with a financial institution, there are many people struggling, taking credit, the car is often the first thing repossessed when the loan is called in.
What happens to your credit when you give a car back to the bank?
You are not giving it back to the bank, you are having your car voluntarily repossessed. It ruins your credit for 7 years. Which may sound like a bad thing, but in reality will keep you from buying more car than you can afford for the next 7 years, which is a good thing. Remember if you do this, you will still be responsible for the difference in what the bank sells the car for, and the balance on the loan.
What happen to a person who is on bail bond and try to kill them self?
That would be up to the discretion of the individual bailbondsman who bonded you out. One thing is certain, you are very likely to be admitted (either voluntarily or involuntarily) for mental examination and evaluation.
What happens if your car is repossessed and you are out of the country?
The same thing happens as if you lived across the street from the lender. They notify you by mail what is going to happen(court,auction,ect) and if you dont respond they proceed. No biggie. Not to my knowledge. Search in your browser for "vise + revoke".
Is there such thing as South Dakota Missouri?
No, But the Missouri River runs through South Dakota, and the Missouri Ridge is an area in western South Dakota.
What is the most important thing in Missouri?
It's people.
What is the best thing about Missouri?
Fort Leonard Wood, Hooah.
Why did Missouri go extinct?
Missouri is a state - it is not a living thing so it cannot go extinct.
How did father Damien show his commitment?
By giving up his own time that he had and also gave up everything thing to do the one thing of caring for other people voluntarily!
What was the worse thing to happen to Dr. Seuss?
The worse thing to happen to Dr Seuss was that he died
