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Are Insurance companies liable to pay on default judgment is coverage was in effect?
Wiki User
∙ 11y ago
yes
Wiki User
∙ 11y ago
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Can a younger spouse of a retired person get medicare or insurance coverage?
To find out if your eligible for Medicare, you can use the Medicare Eligibility Tool at the link below: http://www.medicare.gov/MedicareEligibility/home.asp?version=default&browser=IE%7C6%7CWinXP&language=English If you're not eligible for Medicare, you can check with the different insurance companies to find out about individual coverage.
Can a repo order be sent if the loan is not in default but you have no comprehensive and collision insurance?
Unfortunately, yes. It was one of the agreements you made with them when you purchased the car. They check with the insurance companies from time to time- probably every couple of weeks to make sure you have coverage. If you are involved in an accident, then they lose.
Can you buy liability insurance on a car that you are financing or does it have to be full coverage?
Auto Finance companies typically require the buyer to purchase "Full Coverage" insurance to protect their property until you have paid it off. Just review the finance contract you signed when you made the agreement. It will detail your coverage requirements to avoid default on the finance note. If you fail to comply with your agreement, the lender generally has the option of purchasing the coverage at an insurer of their choice and bill you for the additional cost (with interest) of acquiring the coverage for you.
In the state of Texas what happens after a default judgment?
A default judgment is nothing more than a judgment obtained because defendant did not show up for court. In Texas, when a default judgment is entered, the petitioner gets all that they have asked for.
What is forced mortgage insurance?
Force Placed Insurance is coverage obtained by the lien holder to cover their interest in the financed property when the buyer fails to meet the required coverage conditions of the finance note. No coverage is provided to the buyer at all, only the lien holder. Basically if the finance company has obtained force placed insurance coverage then the buyer is already in default on the terms of the finance contract. The cost of the coverage is added to your bill or finance note without benefit of coverage to the buyer.
What is the difference between a summary judgment and a default judgment?
Basically, a default judgment is something you did NOT argue about in court by filing answers to the Summons and Complaint, and the Summary Judgment is something you did argue about IN COURT.
How does forced placed insurance work?
Force Placed Insurance is coverage obtained by the lien holder to cover their interest in the financed property when the buyer fails to meet the required coverage conditions of the finance note. No coverage is provided to the buyer at all, only the lien holder. Basically if the finance company has obtained force placed insurance coverage then the buyer is already in default on the terms of the finance contract. The cost of the coverage is added to your bill or finance note without benefit of coverage to the buyer.
Can a loan company in California have your car repossessed if you haven't been able to carry car insurance?
YES, if you are in DEFAULT of the contract (NO ins. coverage) they can repo.
MY car was reposessed due to laps in your car insurance payment is there a difference in the length of time it stays on your record?
Repossession does not occur for lapses in insurance payments. The auto loan transaction and insurance transaction are completely separate. If you live in a no fault state, the lender may add insurance coverage to protect their interest in the vehicle, and this will be translated to you the borrower.Now, that being said, no, there is no difference in the amount of time a debt remains on your credit report aside from whether it is seven years from last payment on a regular default (no judgment) or ten years for a defaulted account with a judgment securing it.
Is homeowners insurance mandatory in New York State?
Mandated by Law, No, not in any U.S. stateMandated by your mortgage contract on penalty of default and foreclosure, Yes. All mortgage companies require that the buyer maintain adequate coverage until such time as the note is paid off.
Can a car be repossessed due to cancelled insurance in South Carolina?
You would have to read the specifics of your financing contract. Generally you are required to maintain liability and comprehensive insurance coverage, and if you fail to do so then you are in default on the contract. Sometimes the contract allows the lender to immediately force you to buy their insurance at an outrageous price. Once you are in default, the lender may repo the car.
How do you fight a default judgment in small claims court?
It is nearly impossible to overturn a default judgment unless you can prove that you were not served properly.
