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Yes it can and will effect your credit

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โˆ™ 2015-07-14 16:09:12
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Q: Can a car be repossessed if the title work has not yet been completed and whose credit would the repo affect?
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Related Questions

If your car has your mothers and your name on the title but she is deceased how does this affect you if it is repossessed?

Goes on your credit as a repossession.


After you buy a repossessed car does it stay marked as repossessed as long as it is driven even though it is paid off?

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.


If there are two owners on a auto title and only one signs for a auto title loan and dies is the other person responsible for paying balance of loan?

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.


How do you get the title to a car you've had 5 years is on your credit as a repossession but the company never physically repossessed?

contact the lending institution and offer to make partial payment in exchange for the title.


Can a car be repossessed with title and no lien on it?

no


Can your car be repossessed if there is no lien holder on title?

no


Can your car be repossessed on a title loan after gone into collections?

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.


If you break up with your boyfriend can you have his motorcycle repossessed if your name is one the title?

Is his name on the title also?


If you pawn a vehicle and it gets repossessed will this hurt your credit?

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


Does having the title to a repossessed truck give you any legal rights?

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


Can a car be repossessed if there is a lien holder on title but there is no actual loan?

hi


What happens to title loan cars when they are repossessed?

They are sent to an auction and sold.


Can lender refuse to pick up car and still refuse to release title?

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.


What can happen if you don't pay a title loan and you still have the car?

The vehicle can be repossessed.


Can a property owners association affect credit score?

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.


If you hold the title and its in your name can your vehicle still be repossessed?

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.


My condo community has decided to put new siding on your homes and if I don't pay 5500 they will put a lien on my home. Will that affect my credit rating?

Yes, a lien on your title, which clouds it, becomes public record and can affect your credit rating.


What are the repercussions if you have a title loan out with a company and your car gets repossessed and can this affect your credit?

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.


Can a person who holds title to a vehicle have it repossessed from someone driving it as a loaner?

Report it stolen.


How do you get a title on a repossessed mobile home?

You can in some US states. You have to look up the state you are in.


What can you do if you have a clear title and your car gets repossessed?

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.


What is the title of a teacher with an MBA?

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).


Will new legislation regarding affecting credit card limits make it easier to get a title loan?

The CARD act doesn't affect title loans at all, so it shouldn't make a difference.


Do you still owe title loan after vehicle is not working and repossessed?

YES! Including any interest.


How can I get my car back if the title is in your name but someone bought it?

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.