Yes because payments are still owed. There is a law that applies to Native Americans living on official reservations that prohibits repossession of a vehicle if a specified amount has already been paid. In addition, repossessing a vehicle from a Native American reservation requires an order from a federal court and the permission of the tribal council.
You still owe the balance after the insurance money is paid, if there is a balance. You can only get rid of it, along with your other unsecured debts, by filing bankruptcy.
You can be sued and your car repossessed.
Some do, most do not.
Was the lender demanding the BALANCE DUE when you paid only the overdue amount? IF so, your recourse is to pay the balance due. IF not, contact a local attorney for state/case specific advice. None, just because you paid the overdue balance don't mean nuthin to the lender.
You will also be liable for any deficiency balance
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.
Start by reading your contract. Then CALL the lender who sold it to get the balance due.
The car was repossessed one week before being off, now the creitor wants to charge me repossesses fees.
Call the lender, and make some kind of arrangements. Do not let your car get repossessed. You will be responsible for the balance on the loan. no
IF the lender obtained a judgment for the balance due, YES.
The difference between the sale price & loan balance is what they will bill you for.
NOT unless the contract stipulates that it will be. Otherwise, it is a contract in DEFAULT with the collateral in the lenders possession.
If your car was repossessed, they will sue you for the difference in what the car sells for and the balance on the loan, plus repossession fees.
they get paid 1 dollar
Yes. Pay the repair bill off, ASAP.
Yes. If you have not paid for it then it is not yours.
Yes, it can be repossessed. If you owe money on a vehicle and do not have a clear title of the car - In reality, this car is not yours until the debt is paid. The car is collateral until your pay the loan off. If the car was repossessed, the personal contents like the car seat must be given back to you.
Yes and no it depends on the circumstances. For instance is it to a car or home. Anything can be repossessed if not paid for. Also if not repossessed it will have to be paid for if you're in the wrong and the person or company takes the matter to court.
You are unless it's a TITLE LOAN, they usually write it off.
As soon as they sell the car so they will know what the balance due is.
no, they will sue you for the balance owed after the sale