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In some cases yes. If the vehicle was purchased using the same lender against whom you have defaulted with a different loan, and there is a remaining balance after the repossession of that property, then the court can order a Conversion of Collateral, and the paid off vehicle can be repossessed by that lender.
Additionally, if the court chooses, real property can be ordered liquidated to pay a bad debt.
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∙ 12y ago
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You paid off your car debt and the collection agency still has not sent your title?
Sue them for wilful noncompliance and harassment.
If i don't pay credit card debt can they take my car that is paid off?
If Your creditor get a judgment against you they can sell what property you have to pay the debt. So the answer is Yes.
Why has your credit score not changed if you have paid off all delinquent debt and have made all mortgage and car payments on time for 4 years?
it might not have changed because of your debt ratio.. meaning, you have paid off your old debts, but you have created new ones.
What can happen to your debt after your car is repossessed?
Your debt is then written off as the car covers the cost of the debt.
What happens when your son dies leaving an outstanding car loan?
My sympathies to you and your family. If you, your husband or anyone else in the family didn't cosign for a loan for the car then the debt ends. If there was a cosigner then the cosigner is responsible for the debt. If your son was not a minor and took the loan out himself and he has left a Will or has anything of value this debt will be paid off or written off.
Can a car loan agent sue me for a debt that has been written off?
No, if it is written off that means the company has accepted the debt as paid.
If a car paid off 5 yearsand in two separate names can it be repossess to settle a debt in one the partys name?
If there are two names on the title it cannot be seized for the debts of one owner. You should consult with an attorney.
Can a dealer repo a vehicle that wrecked and not paid off?
Yup ... until the debt is paid, the dealer owns the car outright - they have the title afterall which prevents the car from being sold.
You paid off your car debt and the collection agency still has not sent your title?
Sue them for wilful noncompliance and harassment.
If i don't pay credit card debt can they take my car that is paid off?
If Your creditor get a judgment against you they can sell what property you have to pay the debt. So the answer is Yes.
Will my daughter lose her car that her dad gave her 2yrs ago He passed away with a lot of debt The car is in his name The car is paid off.?
It is possible that the car will be made a part of the estate. The executor will have a duty to pull it back in to pay off the debt. Consult an attorney in your area for specifics.
Can a parents personal items and car be auctioned off to pay debt after death?
Yes and no. Items that are in the deceased persons name can be held in probate. If the car has an outstanding lien, it will just be repossessed if it is not paid off, but if there is a will and the car is left to a person, that person will be responsible for the balance of the loan. If the car is paid off, it can and will be held in probate until the deceased persons estate is cleared of debt. If the person is renting a property and not the owner of the property and has outstanding debt, the items of value can be held in probate and auctioned off. If the will leaves the items to others, it will go to them, but if there is no will, everything listed in the dead persons name will become property of the state until probate is lifted and debt is paid off.
Why has your credit score not changed if you have paid off all delinquent debt and have made all mortgage and car payments on time for 4 years?
it might not have changed because of your debt ratio.. meaning, you have paid off your old debts, but you have created new ones.
What can happen to your debt after your car is repossessed?
Your debt is then written off as the car covers the cost of the debt.
Can an insurance company allow you to put liability only on a car that hasn't been paid off?
Your lender has to approve any changes in insurance on your car until it is paid off. You may also opt to have them cover the remaining amount owed so that if the car is totalled, your debt is cleared.
What happens when your son dies leaving an outstanding car loan?
My sympathies to you and your family. If you, your husband or anyone else in the family didn't cosign for a loan for the car then the debt ends. If there was a cosigner then the cosigner is responsible for the debt. If your son was not a minor and took the loan out himself and he has left a Will or has anything of value this debt will be paid off or written off.
If you have bad credit but the debt is paid off can you get a loan?
Yes
