Want this question answered?
As a rule, YES. It is up to the lender to post a repo on your CR and most do it automatically.
Unless you want to be sued, you bet you do.
House repossession refers to the process by which a financial organization takes ownership of the house as collateral due to failed payments or inability to pay.
Actually, it doesn't just come off your record. It will show as a repossession, but it will show as no balance due.
NO, there are no more debtors prisons.
Pay the past due amount on the loan or pay the loan in full. In the event you are able to do this, it is a good idea to have the lender contact the repossession agency to cancel the repossession while you remain on hold. If you fail to do this, it could take several hours for them to notify the repossession agency, and your vehicle could still be taken.
Pay the debt.
No, but if they accept any payment, they cannot begin the repossession proccess
After a repossession, you will need to pay a fine usually. For example, if this was a car being repossessed, you would have to pay a certain amount to get it back.
No, once the loan is in default, the only way to assure that you keep your stuff is to pay off the loan in full.
As a rule, YES. It is up to the lender to post a repo on your CR and most do it automatically.
Pay up.
Pay the money you owe
Yes. All you have to do is pay your bills.
heheh
Basically, it means last chance to pay before repossession takes place. The procedure for repossession is in progress.
You lose your car.