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You just had a car repossessed because you can no longer make the payments or maintain full insurance coverage Now the lender keeps trying to call you What should you do?
Wiki User
∙ 6y ago
Depends on if you intend on paying the lender any money. Unless you file for bankruptcy they can call your house requesting that you repay them. At some point (saying you owe enough money to make it worth while) they can bring you to court and sue you. I think the statue of limitation for this type of lawsuit is 2 years (if they do not try to sue you in this time period then they cannot come after you ). If you plan on paying the lender, you can most likely make a deal that will only allow you to pay .50 on the dollar that you owe (the lender would rather receive half then nothing). If you do not intend on paying the lender, your best option is to not communicate to the lender (when they call).
Wiki User
∙ 6y ago
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Are payments made to an insurance company in return for coverage?
yes it is
What is home insurance?
Home Insurance is Insurance coverage for your house, condo or apartment for your personal property and liability coverage for you. The insurance coverage for your house is also called homeowners insurance. The Homeowners isurance is an insurance package that has coverage for the dwelling, the others structures on your property, Loss of Use, Medical Payments and Personal Liability.
What is an unintended consequence of an automobile?
Car payments and insurance coverage, to name two.
Can your car be repoed if you have full coverage and you licance is revoked?
You car can usually only be repossessed if you fail to make the payments to your finance company.
Can my insurance co. disability payments or my workers comp payments be garnished for a vehicle reposession?
They might be able to garnish your payments for the money that you owe them , but nothing more since vehicle has been repossessed.
Will gap insurance help if your car is repossessed in Arizona?
WHAT "GAP" does it cover?? The gap between your down payment and what the car is worth or the amount you lack to be current with the payments? Read your "GAP" ins. contract to be sure of the coverage. I've never heard of it covering a repo.
Can your car be repossessed if it was in an accident and nearly totaled?
If you weren't making your payments yes. It would only be repossessed if you weren't making your payments.
Can your car be repossessed if you lose your job?
No, but your car can be repossessed if you don't make the payments.
Can your car get repossessed with only one payment due?
Yes. Always read your contract. The area under default will usually specify yourlien holders right to take possession. You can be repossessed for more reasons than just defaulting on your payments. Again check your contract. You can be repossessed for not keeping your lender updated with your full coverage insurance. If you are using the vehicle for illegal purposes or if you are not taking care of the vehicle- your lender can repossess the unit. Read your contract.
Does insurance premium mean monthly?
No. The premium is the price you pay for the coverage. Depending on your insurance company, the premium may be paid all at once or in payments.
Can TVs be repossessed in Texas?
Yes, TVs can be repossessed in Texas. The television that is purchased on a rent-to-own plan or that is in the process of payments for ownership can be repossessed if those payments are not made in a timely manner.
Can a medical insurance company drop you because of one non payment?
It would depend on the insurance company. Most insurance companies will reinstate your coverage once you are caught up on your premium payments. You would then just have a lapse in coverage for the month you missed.
