Top Answer
User Avatar
Wiki User
Answered 2011-09-12 07:49:52

Very simple really,you have the right to pay it. If you don't pay it, the lender will likely seek a judgment against you. If successful, they will proceed with any other legal remedies available to collect. Those include garnishemnt of your wages, lien against other property you own, etc. You can make an offer to settle, they can refuse or settle. Last but not least, you can do the bankruptcy deal. Try your best to avoid this. It will haunt you for 7-10 yrs. Good Luck

User Avatar

Your Answer

Still Have Questions?

Related Questions

How consumers respond towards negative publicity?

How consumers respond towards negative publicity? Discuss it.

What are the laws of repossessed cars in Canada?

Cars repossessed laws in Canada a vary by provine.Whether your car will be repossessed depends on such factors as the province you live in and how for behind you are with your payments.Vehicle repossessed is negative impact on your credit rating. If you want more information email me at natalsiapatterson34@gmail.com

If there is negative equity on your car when it is repossessed are you responsible for the difference?

It may vary by state, but in most palces you are responsible for the negative equity.

What Consequences for not repaying a loan?

Negative impact to your credit score, and your car could get repossessed.

How does getting a car repossessed affect credit?

Stays on your credit rating for 7 years. Has a very negative effect.

How will consumers react to the incentive of a higher price on a good or services?

The negative incentive will cause consumers to purchase less of the good or service if it is of lower quality.

How will consumers react to the incentive of a higher price on a good or service?

The negative incentive will cause consumers to purchase less of a good or service if it is of lower quality

What does it mean when you have a positive ion and a negative regarding electrons?

A POSITIVE Ion is missing an Electron from its outer shell. A negative Ion has an EXTRA Electron .

Regarding use of the media spin can best be defined as?

Spin is casting a positive light on negative facts.

What is considered a negative effect of government regulation?

they cut into company profits, they stifle competition, they cause higher prices for consumers.

What is the major problem with telemarketing?

Many consumers have a negative perception of it, particularly with outbound telemarketing, because of untimely and annoying calls.

What is wholesome demand?

Wholesome demand is the demand for a product in which there are negative attributes of the product. Some examples would be alcohol and cigarettes, which are in demand among some consumers but also get negative feedback from others.

If you pay your entire balance after your car is repossessed and the car is returned to you why will the lender report negative on your credit report?

Paying the car off was good but having to repo it to get it paid off was BAD or negative. the lender did report that it was PIF,HUH?? So they reported the good and the bad.

What is the difference between B positive and a B negative trees?

Click on the link to your right for information regarding b-trees.

What is 'moral implication'?

The positive or negative outcome or result of any decision regarding morality. However, morality is subjective.

Can you have no period and negative pregnancy results and still be pregnant?

The negative pregnancy test is the defining answer, regarding pregnancy - once your period is a week or so late - if you are pregnant, the hCG will be high enough to be detected.

Can you give five examples of negative demand?

Offensive advertising, false advertisement, low quality product, product misrepresentation, and company reputation can all cause negative demand, which is the determination of consumers not to buy a product.

What are opinions regarding the actor that plays Joshua Matthews being recast for Girl Meets World?

The opinions regarding the actor that plays Joshua Matthews being recast for Girl Meets World are all negative.

What is negative about the discovery of blue mountains?

I do not know of a negative regarding blue mountains. Mountains in a distance will often look blue or purple because of the refraction of light. It is properly called atmospheric perspective by artists.

What is the- dreams Twitter page?

He deleted his account after receiving many negative tweets from followers regarding a comment he made about Ciara.

How do you recalibrate a weight watcher digital food scale?

Having the same problem with my scale. There is in information regarding this which is a great big negative.

What is 15 minus negative 22?

When dealing with addition and subtraction regarding negative numbers, it is important to remember that negative numbers will act in the opposite way as a positive number. For example, in this problem, 15 - (-22) , It may be easier to re-write it as this: 15 + 22 The negative sign of the 22 will be negated by the subtraction sign. 15 - (-22) = 37

What is product image?

Product image refers to the way consumers view the product. Product images can be negative or positive depending on price, quality, and the corporation itself.

How can we manage negative online reviews?

Negative Reviews cannot be erased. Hence, the best way is to respond, empathise and resolve the issue then and there. Try keeping the negative count low by flooding it with some compelling positive reviews. The consumers are aware of the fact that "No Brand Is Perfect" and sometimes your customer help you by suggesting improvements.

Still have questions?

Trending Questions
What are fat burning foods? Asked By Wiki User
What is half of 16? Asked By Wiki User
Do potatoes have genders? Asked By Wiki User
Unanswered Questions