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2006-11-21 16:41:57
2006-11-21 16:41:57

Yes. Once the original contract is in default the lender can begin repossession proceedings under the UCC laws. In the majority of US states the lender does not need to notify the borrower or obtain a replevin order from the court.

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Yes, late fees indicate that payments were not made on time, which renders the original agreement invalid and allows the lender to repossess the vehicle if they so choose.


IF your name is on the TITLE as buyer or cobuyer, you have the right to POSSESSION. Do you know where the car is? Do you have a key?


It allows for the mortgage to be changed after the fact. The modification can be of use to those facing foreclosure who want to continue making payments but can't satisfy the original agreement.



A revolving credit agreement is a legal contract between a lender and a borrower whereby the lender agrees to lend up to a certain amount to the borrower for some period of time. The borrower agrees to make minimum periodic payments during the time that the revolving credit agreement is in force and pay off any balance due at the end of the contract period. Many revolving credit agreements automatically renew after the agreed period (unless the credit circumstances for the borrower have radically changed). An example of a revolving credit agreement is the credit card. A credit card has a credit limit ("up to a certain amount" or "maximum"), an expiration date ("some period of time") and minimum payment requirements ("minimum periodic payments"). Most credit card agreements are renewed before the original agreement (the card) expires.


As soon as you are out of compliance with the original contract, the bank is allowed to protect their interest in accordance with the original agreement. If that means repo and sell the car and that's in accordance with the original agreement, they are no doubt obeying the law. Many banks will work with you, but nothing requires that they do so. In a few US states an letter of "Right To Cure" must be sent to the borrower before repossession can occur, in the majority of states a vehicle can be repossessed under UCC laws. Wisconsin is the only state that requires a replevin order.


The Schengen Agreement is named after the village of Schengen in Luxembourg, on the border with both France and Germany. This is where the original agreement was signed. Schengen is a village in Luxembourg, on the border with both France and Germany. The original Schengen Agreement was signed there, and named after the village.


The Schengen Agreement is named after the village of Schengen in Luxembourg, on the border with both France and Germany. This is where the original agreement was signed. Schengen is a village in Luxembourg, on the border with both France and Germany. The original Schengen Agreement was signed there, and named after the village.


A written document serving as evidence of a transfer of a loan obligation from the original borrower to a third party.


With your good credit you sign a contract to pay off the loan if the original borrower defaults.


Not really because to get restructuring I am sure you have had to communicate with your mortgage lender to get your debt restructured and this doesn't necessarily have to be a consensual foreclosure.The lender can negotiate an agreement "workout" with a borrower to modify the original credit terms you have rather than start foreclosure.


If you are challenging the signature as valid - tell them to produce the ORIGINAL document that contains your ORIGINAL signature. If they cannot, or will not, you will be able to walk away. Reproduced signatures are not legal for enforcing contracts or agreements. The holder of the the original paper MUST be able to produce the original agreement and original signatures.


No. The Schengen Agreement is named after the village of Schengen in Luxembourg, on the border with both France and Germany. This is where the original agreement was signed.


The Schengen Agreement is named after the village of Schengen in Luxembourg, on the border with both France and Germany. This is where the original agreement was signed.


Any time a loan is paid, the borrower and lender should sign a loan agreement. The loan agreement, which is also commonly referred to as a promissory note, makes the agreement between the parties and the exchange of funds official. By having a loan agreement, there may be legal recourse in the event the borrower does not repay the loan as agreed in the contract. Even when money is being loan to a family member or longtime friend, the loan agreement is important to validate the exchange of monies. Having a sample loan agreement will serve to protect the borrower as well as outline the terms of the contract. The agreement should also include the amount borrowed as well as the interest rate that is being charged on the loan. Having the contract written and signed by all parties prevents the borrower or the lender from changing the terms of the original agreement. To be included in the sample loan agreement is a simple statement that a loan is being made. Although this seems elementary it is important this is included so there is a distinction made between money being borrowed and monies being given with no repayment obligation. The understanding with the agreement is that under the terms of the agreement the funds are to be lent for specific period of time. Included in the sample loan agreement should be the date the monies are being exchanged. Although less important, but still to be included in a loan agreement is the city and state where the loan is being made and disbursed. Whether a loan is being made for business or personal financing, all parties should be named in the agreement. In the case of an individual, the individual's full name should be included in the agreement. If there is a co-borrower on the loan, his or her name should be included as well. In the case of a business, either the guarantor or corporation name should be listed on the contract. It is key to understand the business designation and structure of the business; a sole proprietor will need to be named while the owners of a corporation may not be named because of certain limited liability provisions. Within the loan agreement there should be language to include how and when the funds borrowed will be repaid. If there is any distinction that needs to be made about how the loan should be repaid, such as by check, credit or money order this should be outlined. The date the funds will be repaid should also be clearly stated and agreed to by all parties involved. The key to the loan agreement is to protect the interests of all parties involved and by clearly stating the terms of the loan and obtaining signatures, the chances of default and misunderstanding will be minimized.


An opting out agreement is an agreement between the parties of a contract. It is designed to notate how a person can get out of a certain contract legally. An opting out agreement still has to be approved by all parties involved in signing the original contract.


Yes. If the original borrower defaults, and the cosigner is unable to take over the debt.


The Schengen Agreement is named after the village of Schengen in Luxembourg, on the border with both France and Germany. This is where the original agreement was signed.


If that issue was not addressed in the original easement agreement then no one is responsible. The parties need to draft a supplemental agreement.


No. The Schengen Agreement is named after the village of Schengen in Luxembourg, on the border with both France and Germany. This is where the original agreement was signed.


a written agreement ratified in 1781 by the thirteen original states



If the borrower formally assumes the note, another words the bank gives the ok to the new borrower, the bank can notify credit bureaus to delete that entry in credit report. If new buyer takes title "subject to" without the banks permission the original borrower will still show up in their credit report. because as far as the bank is concerned you are still responsible, no matter who pays the note.


A borrower can make any request they like to their lender. The lender does not need to respond beyond acknowledging the request if that. Based on the question there is already a temporary forbearance agreement in place and the borrower is seeking to change the agreement. If that is accurate the borrower has already failed to live up to the original terms they agreed to when they took out the loan. They then agreed to new terms with the lender when the temporary forbearance was agreed. A third time around is going to send a message to the lender that the borrower is not in control of their situation or that they just cannot be trusted to perform as agreed. With that backdrop I would carefully think through why yet another deal needs to be struck. Maybe there really is a good reason. That information will need to be shared with the lender. Understand that the lender hears stories every day and some are lies or a con. If you want help you need to be very open with the lender as to what is going on and be prepared to convince the lender that you really can handle the payments if an adjustment is made one more time. While the lender is better off with a loan that is performing even on restructured terms at some point the lender needs to assume that some loans are really not going to get paid. At that point legal proceedings will begin.


Maybe, the answer lies in the original agreement made with the OC. Some creditors have a stipulation in the contract which in essence says the debtor/borrower agrees if the account is assigned to a collection agency the agency has the same rights as was granted the OC. The OC had the right to access the consumer's report before allowing him/her credit, therefore the collector acting as the OC's agent can do the same. OC = Original Creditor



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