Goes on your credit as a repossession.
The car isn't damaged, the debtor's credit rating is. There is no permanent record of the car as a repossessed vehicle like there is for a salvaged title.
The short answer is yes, if you want to keep the car. Otherwise the loan will go into default and it will be repossessed. If you did not sign for the loan, it will not affect your credit.
contact the lending institution and offer to make partial payment in exchange for the title.
Yes, your car can be repossessed if the title loan is in collections. Actually, this is one of the most common ways for a defaulted title loan to be settled.
Is his name on the title also?
IF the lender reports it to the CRA, it will. FWIW, title pawn lenders USUALLY dont report it. Too much work and paperwwork for them. LOL
NO, the truck probably has been sold already and the lender got a repossessed title to sell it with. Of course they do make mistakes. LOL
They are sent to an auction and sold.
The title is only released when the debt or loan is paid in full. If you want the lender to pick up the car, I'm guessing that you can't or don't want to make the payments. The lender can refuse to pick up the car, but, if the debt remains unpaid, they will probably have the car repossessed which will negatively affect your credit rating.
The vehicle can be repossessed.
Yes. If, for example, you do not pay your assessments, and a lien is placed on your title, the filing is reported to the credit bureaus, and will show up on your credit report. Your score could suffer.
Well, if the title lists no lienholders, it cannot be repossessed. If it lists one, it would be best to surrender it or don't keep anything in it of value. Yes. Even if the lien is not recorded on the title, it hass probably still been filed with the state.
Yes, a lien on your title, which clouds it, becomes public record and can affect your credit rating.
Any type of monetary loan agreement you enter into makes you liable to the terms you signed on for. The car being repossessed is not a good thing. More than likely they will report you to the 3 top credit agencies and a mark will be on there in a number depiction to indicate how many times, months and amount defaulted on. You will likely have problems getting decent credit in the future with low rates and dont be surprised if your turned down for any credit, either. Well, this is my advice, create a budget for your finances, stick to it, live within your means, pay for items cash so you dont create more credit and see if there are any seminars in your area for financial planning or how to live moderately.
Report it stolen.
You can in some US states. You have to look up the state you are in.
If you have a clear title, you car can't be repossessed. Either the title isn't clear or the leinholder believes monies are still owed on the car. If the title is clear, show it to the company authorizing the repossession. If you truly had clear title and there were no leins or other encumberances and a judge didn't declare that the car was to be sold to satisfy OTHER debts, you can sue for damages. If you didn't owe money to the people who had the car repossessed, you should be able to sue them for LOTSA BUCKS, and you definitely should.
Within the United States there is no particular title for one who has completed an MBA, such as one who has completed a doctorate (being called doctor).
The CARD act doesn't affect title loans at all, so it shouldn't make a difference.
YES! Including any interest.
If the title is in your name only, then the new buyer will not be able to put the title in his name. If it was repossessed, then the lienholder was able to sell it and the sale is valid.